1Q23 Earnings and Operations Update
The Most Environmentally Friendly Oil on the Planet
Petroleum-based fuels remain a significant contributor to the global economy in all IEA scenarios
• Blue oil (negative CI score) and Electrofuels (net zero target) are direct drop-in fuels without
modifications to infrastructure
Carbon-negative
Blue oil is Scope
1, 2, 3 (¹) negative
Approximately 28%
of DEN current
production is Blue oil
Net Negative CO2 Per Barrel Produced
CO2 emissions (metric tons/thousand barrels)
+30
Scope 1
Direct development &
operations
+40
Scope 2
Indirect emissions,
utilities & electricity
+460
Scope 3
Transportation,
refining and
combustion of
petroleum products
-240
Net negative
carbon emissions
(1) Scope 3 refers to Scope 3 Category 11 (Use of Sold Products)
-770
Industrial CO2 Injected
Denbury Inc.
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