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Denbury (DNR) Announces Closing of Senior Notes Offering
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On Aug 21, Denbury Resources Inc. announced the conclusion of senior secured notes offering. The company offered the new second lien notes to select investors.
The new notes — which are slated to mature by 2024 — have aggregate principal amount of $450 million and are likely to carry an interest rate of 7.5%. The notes were priced at par.
The company has added that the new notes will have almost the same covenants and priority like its current second lien notes. The collateral, backing the new second lien notes, is almost the same as the existing notes.
The proceeds from the offering will likely be allocated by Denbury for paying the borrowed amount under the senior secured bank credit facility. The remaining amount is expected to be allotted by the company for general corporate activities.
Headquartered in Plano, TX, Denbury is among the leading oil and natural gas explorers, with operations in key resources like the Rocky Mountain and Gulf Coast area. With proven and highly advanced extraction techniques like CO2 enhanced oil recovery, the company has significantly improved the value of its oil and gas plays.
Denbury has an excellent earnings surprise history as the stock has surpassed the Zacks Consensus Estimate in all of the prior four quarters, the average positive surprise being 162.9%. We expect the company to record earnings growth of 235.7% and 49.7% in 2018, and 2019, respectively.
The company’s earnings chart looks impressive, with the stock rallying 381.9% over the past year, outperforming 22.9% collective growth recorded by the stocks belonging to the industry.
Currently, the stock carries a Zacks Rank #2 (Buy). Other top-ranked players in the energy space are McDermott International, Inc. , Petroleo Brasileiro S.A. or Petrobras (PBR - Free Report) and Helix Energy Solutions Group, Inc. (HLX - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
McDermott’s earnings surpassed the Zacks Consensus Estimate in the last four quarters, the average positive surprise being 101.7%.
Petrobras beat the Zacks Consensus Estimate in three of the past four quarters, the average positive earnings surprise being 10.4%.
Helix Energy’s bottom line surpassed the consensus mark in three of the last four quarters, the average positive earnings surprise being 66.7%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Denbury (DNR) Announces Closing of Senior Notes Offering
On Aug 21, Denbury Resources Inc. announced the conclusion of senior secured notes offering. The company offered the new second lien notes to select investors.
The new notes — which are slated to mature by 2024 — have aggregate principal amount of $450 million and are likely to carry an interest rate of 7.5%. The notes were priced at par.
The company has added that the new notes will have almost the same covenants and priority like its current second lien notes. The collateral, backing the new second lien notes, is almost the same as the existing notes.
The proceeds from the offering will likely be allocated by Denbury for paying the borrowed amount under the senior secured bank credit facility. The remaining amount is expected to be allotted by the company for general corporate activities.
Headquartered in Plano, TX, Denbury is among the leading oil and natural gas explorers, with operations in key resources like the Rocky Mountain and Gulf Coast area. With proven and highly advanced extraction techniques like CO2 enhanced oil recovery, the company has significantly improved the value of its oil and gas plays.
Denbury has an excellent earnings surprise history as the stock has surpassed the Zacks Consensus Estimate in all of the prior four quarters, the average positive surprise being 162.9%. We expect the company to record earnings growth of 235.7% and 49.7% in 2018, and 2019, respectively.
The company’s earnings chart looks impressive, with the stock rallying 381.9% over the past year, outperforming 22.9% collective growth recorded by the stocks belonging to the industry.
Currently, the stock carries a Zacks Rank #2 (Buy). Other top-ranked players in the energy space are McDermott International, Inc. , Petroleo Brasileiro S.A. or Petrobras (PBR - Free Report) and Helix Energy Solutions Group, Inc. (HLX - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
McDermott’s earnings surpassed the Zacks Consensus Estimate in the last four quarters, the average positive surprise being 101.7%.
Petrobras beat the Zacks Consensus Estimate in three of the past four quarters, the average positive earnings surprise being 10.4%.
Helix Energy’s bottom line surpassed the consensus mark in three of the last four quarters, the average positive earnings surprise being 66.7%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>