1Q23 Earnings and Operations Update
World-class Cedar Creek Anticline EOR Development
Largest CO2 Flood in DEN History
• Estimated total recoverable resource of >400 MMBbls
Est. 5 Billion Bbls OOIP
~175,000 net acres
..................
NORTH DAKOTA
ΜΟΝΤΑΝΑ
6,750'
7,000'
Phase 2 target
Phase 1 target
9,000'
CCA Formations
Charles B.
Mission Canyon
Lodgepole
Interlake
Stony Mountain
Red River
East
Lookout
Butte
Drives Total Company Production Growth in 2024
Peak production from Phase 1 of 7.5 - 12.5 MBbl/d
Lowers Operating Costs over Life of Field
•
Anticipate $10 - 15 LOE/BOE after full field ramp
100% Carbon-negative Development
• Net negative Scope 1/2/3 emissions (1)
Phase 2 EOR
~100 MMBbl oil
CCA CO2 Pipeline
(1) Scope 3 refers to Scope 3 Category 11 (Use of Sold Products)
Denbury Inc.
Phase 1 EOR
~30 MMBbl oil
CHSU lateral
Cedar Hills
South
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