Over the next couple of weeks, John and David will be reviewing their real-money, 10-Bagger Portfolio. In this video, they take a closer look at Denbury Resources.
David thinks that Denbury is still worth buying today. It saw good production in the second quarter, which turned into solid cash flow. And the company continues to invest in its properties in the Rockies, which will be a future source of growth. It’s nowhere near the size of big Bakken players like EOG Resources or Continental Resources. But the properties it picked up via acquisition are valuable. Denbury is the second-largest tertiary oil producer behind Occidental Petroleum and is well-positioned to grow. We own both ExxonMobil and Denbury Resources. Both are worth buying, but Denbury is by far the more attractive of the two.
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