GRI 101: FOUNDATION |
101-1 |
Reporting Principles |
Our Report—Report Content and Report Framework |
GRI 102: GENERAL DISCLOSURES |
Organizational Profile |
102-1 |
Name of the organization |
Denbury Resources Inc. |
102-2 |
Activities, brands, products, and services |
Annual Report on Form 10-K: Item 1. Business and Properties-General |
102-3 |
Location of headquarters |
5320 Legacy Drive, Plano, Texas, 75024 |
102-4 |
Location of operations |
1 country; United States of America
See also, “Our Company—What We Do & Our CO2 Story” for our operational map |
102-5 |
Ownership and legal form |
Delaware corporation |
102-6 |
Markets served |
Annual Report on Form 10-K: Item 1.
Business and Properties |
102-7 |
Scale of the organization |
Annual Report on Form 10-K:
- Item 1. Business and Properties
- Consolidated Financial Statements |
102-8 |
Information on employees and other workers |
See charts below |
YEAR ENDED DECEMBER 31, 2017
|
Employee |
Contractor |
Total |
Employment Group by Gender: |
|
|
|
Male |
713 |
113 |
826 |
Female |
166 |
16 |
182 |
Total |
879 |
129 |
1,008 |
Employment Group by Region: |
|
|
|
Gulf Coast (TX, LA, MS, AL) |
381 |
55 |
436 |
Rockies (WY, MT, ND) |
149 |
31 |
180 |
Headquarters (Plano, TX) |
349 |
43 |
392 |
Total |
879 |
129 |
1,008 |
YEAR ENDED DECEMBER 31, 2017
|
Male |
Female |
Total |
Employment Type by Gender: |
|
|
|
Full-time Employees |
711 |
166 |
877 |
Part-time Employees |
2 |
0 |
2 |
Total |
713 |
166 |
879 |
Region & Gender: |
|
|
|
Gulf Coast (TX, LA, MS, AL) |
365 |
16 |
381 |
Rockies (WY, MT, ND) |
137 |
12 |
149 |
Headquarters (Plano, TX) |
211 |
138 |
349 |
Total |
713 |
166 |
879 |
YEAR ENDED DECEMBER 31, 2018
|
Employee |
Contractor |
Total |
Employment Group by Gender: |
|
|
|
Male |
677 |
146 |
823 |
Female |
170 |
14 |
184 |
Total |
847 |
160 |
1,007 |
Employment Group by Region: |
|
|
|
Gulf Coast (TX, LA, MS, AL) |
339 |
79 |
418 |
Rockies (WY, MT, ND) |
145 |
36 |
181 |
Headquarters (Plano, TX) |
363 |
45 |
408 |
Total |
847 |
160 |
1,007 |
YEAR ENDED DECEMBER 31, 2018
|
Male |
Female |
Total |
Employment Type by Gender: |
|
|
|
Full-time Employees |
676 |
170 |
846 |
Part-time Employees |
1 |
0 |
1 |
Total |
677 |
170 |
847 |
Region & Gender: |
|
|
|
Gulf Coast (TX, LA, MS, AL) |
323 |
16 |
339 |
Rockies (WY, MT, ND) |
134 |
11 |
145 |
Headquarters (Plano, TX) |
220 |
143 |
363 |
Total |
677 |
170 |
847 |
A Significant portion of Denbury’s activities are completed by Denbury’s contractors and suppliers. A majority of these contractors and suppliers work in our fields in the Gulf Coast and Rocky Mountain regions.
|
102-9 |
Supply chain |
Denbury’s supply chain is comprised of thousands of suppliers and independent contractors, ranging from multinational corporations to local businesses, who provide Denbury with products, materials and services integral to our business. Our supply chain department consists of procurement professionals who seek an ethical, diverse and highly distributed supply chain to reduce costs and procure high quality products and services. In 2017 and 2018, Denbury spent approximately $368 million and $417 million, respectively, in procurement costs company-wide. |
102-10 |
Significant changes to the organization and its supply chain |
Annual Report on Form 10-K:
- Item 1. Business and Properties
- Item 7. Management’s Discussion and Analysis of
Financial
Condition and Results of Operations |
102-11 |
Precautionary principle or approach |
Not addressed by the organization |
102-12 |
External initiatives |
None |
102-13 |
Membership of associations |
We are members and hold governance positions in a few
organizations and institutions in the oil and gas
sector or related to professional fields. See below
for a selection of current positions.
Dan Cole , Vice President – Commercial Development
and Governmental Relations:
• Board of Directors for the Texas Oil & Gas
Association
• Member of the Energy Advance Center
Greg Schnacke , Executive Director, Governmental
Relations:
• Board of Directors for the Louisiana Oil & Gas
Association
• Board of Directors for the Montana Petroleum
Association
• Board of Directors for the Wyoming Petroleum
Association
• Member of the Energy Advance Center
|
Strategy |
102-14 |
Statement from senior decision-maker |
CEO Message |
102-15 |
Key impacts, risks, and opportunities |
CEO Message |
Ethics and integrity |
102-16 |
Values, principles, standards, and norms of behavior |
See Details  |
102-17 |
Mechanisms for advice and concerns about ethics |
Denbury has a Compliance Hotline that is managed by an independent, third-party provider and is available 24 hours a day/7 days a week via phone (1-844-DOING-RT (364-6478)) or online (doingright.denbury.com). All reports submitted to the Compliance Hotline will be appropriately investigated and, as applicable, reported to the Audit Committee of the Denbury Board of Directors.
Internally, employees are expected to first bring matters of concern to their manager. If there are reasons one is uncomfortable doing so or thinks the issue needs attention from a different perspective, employees may turn to any of the following: (1) a manager or the vice president of the employee’s department or region, (2) a human resource employee relations representative, or (3) Denbury’s Compliance team or Legal department.
|
Governance |
102-18 |
Governance structure |
Our Company—Sustainability Governance
Proxy Statement:
- Governance of the Company
- Board Meetings, Attendance and Committees |
102-19 |
Delegating authority |
The business, properties, and affairs of the
organization are managed by the Chief Executive Officer
under the direction of the Board of Directors. The
Board of Directors has responsibility for establishing
broad corporate policies and for the overall
performance and direction of the Company, which
includes economic, environmental, and social topics. |
102-20 |
Executive-level responsibility for economic,
environmental, and social topics |
Our senior management team is responsible for
overseeing economic, environmental, and social topics
that impact our business and our stakeholders. While
senior management reports to our CEO, our senior
management team also has direct interaction with our
Board of Directors on these matters. |
102-21 |
Consulting stakeholders on economic, environmental, and
social topics |
The Board of Directors has approved a process by which
stakeholders may contact the members of the Board of
Directors regarding economic, environmental, and social
topics of concern. Please write to Denbury Resources
Inc., Attention Corporate Secretary, 5320 Legacy Drive,
Plano, Texas 75024. In addition, stakeholders may email
the Corporate Secretary and Board members at:
secretary@denbury.com. |
102-22 |
Composition of the highest governance body and its
committees |
Proxy Statement:
- Proposal One: Election of Directors
- Governance of the Company—Director Independence |
102-23 |
Chair of the highest governance body |
Denbury’s Chairman of the Board is not an executive
officer. See also, “Our Company—Sustainability Governance”
Proxy Statement:
- Governance of the Company—Board Leadership Structure |
102-24 |
Nominating and selecting the highest governance body |
Proxy Statement:
- Governance of the Company—Identification of
Director Candidates
- Stockholder Proposals for Our 2020 Annual Meeting of Stockholders |
102-25 |
Conflicts of interest |
Related party transactions are monitored and approved
by our Nominating/Corporate Governance Committee
pursuant to Denbury’s Related Party Transactions
Policy. The Company discloses such transactions as
required pursuant to the Securities and Exchange
Commission’s rules and regulations. Additionally,
Denbury’s Code of Conduct and Ethics governs conflicts
of interest. Waivers to the Code of Conduct and Ethics
are disclosed to the extent and in the manner required
by applicable laws, rules (including any rule of any
applicable stock exchange), or regulations. |
102-26 |
Role of highest governance body in setting purpose,
values, and strategy |
The business, properties and affairs of the
organization are managed by the Chief Executive Officer
under the direction of the Board of Directors. The
Board of Directors has responsibility for establishing
broad corporate policies and for the overall
performance and direction of the Company, which
includes economic, environmental and social topics. |
102-30 |
Effectiveness of risk management processes |
The Board of Directors has an oversight role with
respect to the risk management processes for many
economic, environmental and social topics. In certain
instances the Board has delegated this duty to an
appropriate Board Committee. For example, Denbury’s
Reserves and Health, Safety and Environmental Committee
has an oversight role with respect to the risk
management process for environmental matters; the
Compensation Committee has an oversight role with
respect to the risk management process for
compensation-related matters; and the Risk Committee
has an oversight role with respect to the Company's
principal business, financial and operational risks. |
102-31 |
Review of economic, environmental, and social topics |
As necessary throughout the year |
102-32 |
Highest governance body’s role in sustainability
reporting |
Reserves and Health, Safety, and Environmental
Committee of the Board of Directors |
102-33 |
Communicating critical concerns |
All stakeholders wishing to communicate with the Board
are encouraged to email the corporate secretary and
Board members or address letters to the following
address: Denbury Resources Inc., Attn: Corporate
Secretary, 5320 Legacy Drive, Plano, TX 75024. You may
also send an email to: secretary@denbury.com.
Additionally, see GRI 102-17 |
102-35 |
Remuneration policies |
Proxy Statement:
- Executive Compensation
- Compensation of Directors |
102-36 |
Process for determining remuneration |
Proxy Statement:
- Executive Compensation—Roles in Setting Executive
Officer Compensation |
102-37 |
Stakeholders’ involvement in remuneration |
Proxy Statement:
- Executive Compensation—Proposal Two: Advisory Vote to
Approve Named Executive Officer Compensation |
Stakeholder engagement |
102-40 |
List of stakeholder groups |
The primary stakeholders with whom we engaged are: Denbury employees, Denbury’s senior management, Denbury’s Board of Directors, investors, prospective investors, business partners, and local community organizations |
102-41 |
Collective bargaining agreements |
None |
102-42 |
Identifying and selecting stakeholders |
The organization encourages an open dialogue with all
stakeholders. We consider stakeholder engagement a
necessary part of good business and corporate
governance practices. Management uses its judgment to
determine the stakeholder groups with whom to engage.
We respond diligently to all stakeholders that contact
us and believe that engagement with our employees is
always necessary. |
102-43 |
Approach to stakeholder engagement |
The organization’s approach to stakeholder engagement is an on-going and constant process. In 2017 and 2018, Denbury engaged with many of its institutional investors as part of a robust investor engagement campaign. The Chairwoman of the Compensation Committee at the time was available to attend each meeting in the investor engagement process.
See also, GRI 102-42 and “Our Report—Report Framework”
for more information.
Proxy Statement:
- Executive Compensation—2018 Say-on-Pay Results and
Stockholder Engagement |
102-44 |
Key topics and concerns raised |
The key topics and concerns that have been raised
through stakeholder engagement are the material topics
identified in this Report. Our stakeholders were
relatively consistent in the identification of key
topics and concerns.
See also, “Our Report—Report Content"
Proxy Statement:
- Executive Compensation—2018 Say-on-Pay Results and
Stockholder Engagement |
Reporting practice |
102-45 |
Entities included in the consolidated financial
statements |
Annual Report on Form 10-K: Exhibit 21 contains a list
of our significant subsidiaries. Data in this Report
includes all of our subsidiaries unless otherwise noted |
102-46 |
Defining report content and topic boundaries |
Our Report—Report Content and Report Framework |
102-47 |
List of material topics |
Our Report—Report Content |
102-48 |
Restatements of information |
Not applicable |
102-49 |
Changes in reporting |
None |
102-50 |
Reporting period |
2017 and 2018. 2019 data is included in sections where relevant and helpful |
102-51 |
Date of most recent previous report |
Our 2018 report was released in January of 2019 |
102-52 |
Reporting cycle |
At least biennially |
102-53 |
Contact point for questions regarding the report |
Please send an email to Denbury’s Corporate
Responsibility Team at responsibility@denbury.com |
102-54 |
Claims of reporting in accordance with the GRI
Standards |
This report has been prepared in accordance with the
GRI Standards: Core option |
102-55 |
GRI content index |
GRI Index |
102-56 |
External assurance |
Our report has not been externally assured |
GRI 103: MANAGEMENT APPROACH |
103-1 |
Explanation of the material topic and its Boundary |
See chart below |
Denbury Material Topic |
GRI
Category |
GRI
Material Topic |
Material Within
Denbury |
Material Outside
Denbury |
Relevance |
Economic Investments & Impacts |
Economic |
Economic Performance (GRI 201-1) |
✓ |
✓ |
The economic value we generate and distribute
impacts not only our financials but also
state and local governments, our capital
providers, our employees, and our
communities. |
Economic |
Indirect Economic Impacts (GRI 203-2) |
|
✓ |
Our operations reinvigorate local labor
markets, businesses, and the economies of our
communities while generating millions of
positive dollars of tax revenue and other
economic activities. |
Reserves |
Economic |
Reserves (GRI G4 OG1) |
✓ |
|
Our CO2 EOR operations provide an
economically and technically feasible method
of utilizing CO2 to recover otherwise
stranded reserves of oil from
depleted reservoirs, which results in
incidental underground CO2 storage and
reduces our nation’s dependence on foreign
oil. |
Employee Well-being |
Social |
Employment (GRI 401-1 & 401-2) |
✓ |
|
Our employees are key to Denbury’s success
and we strive to make Denbury a great place
to work by providing a safe work environment,
excellent work culture, and competitive
compensation to all our employees. |
Employee Health & Safety |
Social |
Occupational Health & Safety (GRI 403-1 & 403-2) |
✓ |
|
Providing and integrating a sound health and
safety program is key to our success which is
why we have a long-standing commitment to the
highest standards for health and safety of
our employees and contractors that is built
into our management structure. |
Employee Training & Development |
Social |
Training & Education (GRI 404-3) |
✓ |
✓ |
Training and developing employees not only
contributes to Denbury’s long-term success
but also the success and quality of the
current and future global workplace. |
Employee Diversity & Inclusion |
Social |
Diversity & Equal Opportunity (GRI 405-1) |
✓ |
|
We are committed to maintaining a diverse and
inclusive environment for all employees and
applicants because we recognize the benefits
we all share as a result of a diverse
culture. |
Managing our Carbon Footprint |
Environmental |
Emissions (GRI 305-1, 305-2, 305-3, & 305-4) |
✓ |
✓ |
Carbon emissions reduction is an important issue to Denbury and many Denbury stakeholders and this material topic is relevant in all our areas of operations, as part of our commitment to environmental stewardship. |
Spill Prevention |
Environmental |
Effluents & Waste (GRI 306-3) |
✓ |
✓ |
Spills have the potential to adversely affect
the communities in which they occur and the
environment; therefore, we continue to strive
to eliminate all environmental incidents. |
|
103-2 |
The management approach and its components |
See GRI 201-1, 203-2, 401-1, 401-2, 403-1, 403-2, 404-3, 405-1, 305-1, 305-2, 305-3, 305-4, 306-3, and G4-OG1. |
103-3 |
Evaluation of the management approach |
See GRI 201-1, 203-2, 401-1, 401-2, 403-1, 403-2, 404-3, 405-1, 305-1, 305-2, 305-3, 305-4, 306-3, and G4-OG1. |
GRI 200: ECONOMIC |
Economic Performance |
201-1 |
Direct economic value generated and distributed |
See Details 
See charts below |
Year Ended December 31, 2017 |
In thousands ($) |
Direct Economic Value Generated |
Revenues |
Combined total of oil, natural gas, and related product sales; CO2 sales and transportation fees; and other income |
1,129,786 |
Economic Value Distributed |
Operating Costs (1) |
Combined total of lease operating expenses; marketing expenses; CO2 discovery and operating expenses; and general and administrative expenses |
604,524 |
Capital Investment |
Capitalized expenditures (excluding acquisitions), which includes, but is not limited to, capitalized employee wages and benefits |
240,826 |
Payments to Providers of Capital |
Combined total of cash interest expense and settlements of commodity derivatives |
224,377 |
Payments to Government |
Combined total of taxes other than income and current income taxes |
66,334 |
Year Ended December 31, 2018 |
In thousands ($) |
Direct Economic Value Generated |
Revenues |
Combined total of oil, natural gas, and related product sales; CO2 sales and transportation fees; and other income |
1,473,625 |
Economic Value Distributed |
Operating Costs (1) |
Combined total of lease operating expenses; marketing expenses; CO2 discovery and operating expenses; and general and administrative expenses |
614,033 |
Capital Investment |
Capitalized expenditures (excluding acquisitions), which includes, but is not limited to, capitalized employee wages and benefits |
322,670 |
Payments to Providers of Capital |
Combined total of cash interest expense and settlements of commodity derivatives |
361,980 |
Payments to Government |
Combined total of taxes other than income and current income taxes |
88,669 |
(1)Operating costs includes employee wages and benefits, net of (i) operator recovery charges and (ii) capitalized exploration and development costs, which are presented within capital investment.
|
Indirect Economic Impacts |
203-2 |
Significant indirect economic impacts |
See Details  |
GRI G4 OGSS: RESERVES |
GRI G4-OG1 |
Volume and type of estimated proved reserves and production |
See Details 
See information and charts below |
Proved Reserves Data Year Ended December 31, 2018
As of December 31, 2018, Denbury’s proved reserves were approximately 262 million barrels of oil equivalent (“MMBOE”), consisting of 255 million barrels of crude oil, condensate and natural gas liquids (together, “liquids”), and 7 MMBOE (or 43 Bcf) of natural gas. Reserves were 97% liquids and 88% proved developed, and 58% of such reserves were attributable to Denbury’s CO2 EOR operations. Total tertiary reserves at December 31, 2018 were 151 MMBOE and total non-tertiary reserves were 111 MMBOE.
Tertiary Properties |
Oil (MBbls) |
Natural Gas (MMcf) |
TOTAL MBOEs |
Gulf Coast Region |
126,744 |
– |
126,744 |
Rocky Mountain Region |
24,005 |
– |
24,005 |
Total Tertiary |
150,749 |
– |
150,749 |
Non-Tertiary Properties |
|
|
|
Gulf Coast Region |
20,705 |
17,356 |
23,598 |
Rocky Mountain Region |
83,588 |
25,652 |
87,863 |
Total Non-Tertiary |
104,293 |
43,008 |
111,461 |
Total |
255,042 |
43,008 |
262,210 |
The reserve estimates were prepared in accordance with Financial Accounting Standards Board Codification Topic 932, Extractive Industries – Oil and Gas, using the arithmetic averages of the first-day-of-the-month NYMEX commodity price for each month during 2018. These prices were $65.56 per Bbl for crude oil and $3.10 per MMBtu for natural gas.
Production Data Year Ended December 31, 2018
Denbury’s 2018 production totaled 58,532 barrels of oil per day (“Bbls/d”) and 10,854 thousand cubic feet ("Mcf") of natural gas per day. Oil production included 38,134 Bbls/d from tertiary properties and 20,398 Bbls/d from non-tertiary properties.
Tertiary Properties |
Oil (Bbls/day) |
Natural Gas (Mcf/day) |
Gulf Coast Region |
31,905 |
– |
Rocky Mountain Region |
6,229 |
– |
Total Tertiary |
38,134 |
– |
Non-Tertiary Properties |
|
|
Gulf Coast Region |
5,038 |
5,405 |
Rocky Mountain Region |
15,360 |
5,449 |
Total Non-Tertiary |
20,398 |
10,854 |
Total |
58,532 |
10,854 |
A complete report of our estimated proved reserves, production, our report methodology and definitions is included in our Annual Report on Form 10-K. Specifically see pp. 3-4, 8-13, and 98-102.
|
GRI 300: ENVIRONMENTAL |
Emissions |
305-1 |
Direct (Scope 1) GHG emissions |
See Details 
See information and charts below |
We report GHG emissions in accordance with the
Environmental Protection Agency’s (“EPA”) Greenhouse Gas Reporting Program (“GHGRP”). We report
under the following subparts and in accordance with
the following criteria:
Subpart PP – Suppliers of CO2
Subpart PP was finalized by the EPA in October 2009
and has undergone subsequent revisions since it was
published. We submitted our first Subpart PP report
in September 2011 for the reporting year 2010.
Under this subpart, we are required to annually
report the amount of CO2 supplied from
our CO2 production fields and the amount
delivered to various industrial customers,
including our enhanced oil recovery ("EOR")
operations.
Subpart UU – Injection of CO2
Subpart UU of the GHGRP was finalized by the EPA in
2011 and the first reports were due in September
2012. Subpart UU requires reporting for a well or
group of wells that inject CO2 into the
subsurface. This includes Underground Injection
Control (UIC) Class II wells in which
CO2 is injected for the purposes of EOR.
This subpart does not include UIC Class VI wells
into which CO2 is injected for the
purpose of permanent geologic sequestration.
Denbury currently does not operate any Class VI
injection wells.
The amount of CO2 reported under this subpart does not include the amount of post-separation CO2 recycled at the central oil production facility and re-injected via CO2 injection wells. We reported the CO2 injection amounts under this subpart for 14 EOR fields in our Gulf Coast operating region in 2011 and 2012. Two additional fields were reported in 2013 which are located in Montana (Bell Creek) and Wyoming (Grieve).
Subpart W – Petroleum and Natural Gas
Systems
The EPA finalized Subpart W of the GHGRP in 2011.
This subpart has been through several revisions
since it was first published. The first annual
report under this subpart was due in September 2012
for the reporting year 2011. The EPA has included 8
industry segments under this subpart. Our oil
production fields fall under the “Onshore Petroleum
and Natural Gas Production” industry segment and
our Riley Ridge facility falls under the “Onshore
Natural Gas Processing” industry segment.
Under this subpart, the EPA requires operators to
report emissions under each geological basin in
which they operate. These basin boundaries have
been identified on the Geologic Provinces Code Map
published by the American Association of Petroleum
Geologists. Currently, our operations fall under
three geologic basins in the Gulf Coast region and
three basins in the Rocky Mountain region. Denbury
has been reporting under this subpart since 2011
for basins exceeding the reporting thresholds.
Under Subpart W, the EPA requires operators to
report CO2, CH4 (methane) and
N2O (nitrous oxide) emissions from
various sources and processes listed under the
subpart. These GHG emissions are converted to
CO2 equivalent ("CO2e")
emissions by using the respective Global Warming
Potentials ("GWPs") for each pollutant. The GWPs
published by the EPA in 2013 are listed in the
table below.
Greenhouse
Gases |
GWPs |
CO2 |
1 |
CH4 |
25 |
N2O |
298 |
|
The following are Denbury’s Scope 11 – GHG emissions and Vehicle Fuel Consumption emissions for 2017 and 2018 presented in metric tons (tonnes) or gallons (gal). These emissions coincide with emissions calculations using EPA’s GHG Subpart W reporting requirements and applicability as described above.2
Scope 1 – GHG emissions:
YEAR ENDED DECEMBER 31, 20173
Region |
CO2
(tonnes) |
CH4
(tonnes) |
N2O
(tonnes) |
CO2e
(tonnes) |
Rocky Mountain |
216,200 |
2,519 |
- |
279,187 |
Gulf Coast |
320,584 |
6,714 |
0.23 |
488,496 |
Total |
536,784 |
9,233 |
0.23 |
767,683 |
YEAR ENDED DECEMBER 31, 2018
Region |
CO2
(tonnes) |
CH4
(tonnes) |
N2O
(tonnes) |
CO2e
(tonnes) |
Rocky Mountain |
218,753 |
4,503 |
0.18 |
331,390 |
Gulf Coast |
393,189 |
6,290 |
0.64 |
542,160 |
Total |
611,942 |
10,793 |
0.82 |
873,550 |
Scope 1 – Vehicle Fuel Consumption emissions:
YEAR ENDED DECEMBER 31, 2017
Region |
Gasoline (gal) |
Diesel (gal) |
CO2e (tonnes) |
Rocky Mountain |
260,679 |
2,411 |
2,341 |
Gulf Coast |
317,956 |
2,822 |
2,854 |
Headquarters |
4,284 |
- |
38 |
Total |
582,919 |
5,233 |
5,233 |
YEAR ENDED DECEMBER 31, 2018
Region |
Gasoline (gal) |
Diesel (gal) |
CO2e (tonnes) |
Rocky Mountain |
291,096 |
753 |
2,595 |
Gulf Coast |
288,804 |
3,711 |
2,604 |
Headquarters |
- |
- |
- |
Total |
579,900 |
4,464 |
5,199 |
1Scope 1 emissions are direct emissions from owned or controlled sources of a company.
2Denbury monitors and reports NOx, SOx, PM and VOC emissions as required by various air emissions permits across our operations. Our operations do not generate HFCs, PFCs or SF6 emissions and, therefore, we do not report them under EPA’s GHG Subpart W. GWPs for 2017 and 2018 were used to calculate CO2e.
3Emissions reported may differ slightly from prior year’s reporting due to internal auditing and EPA’s changes to the reporting rule.
|
305-2 |
Energy indirect (Scope 2) GHG emissions |
See Details 
See information and charts below |
The following are Denbury’s Scope 21 emissions for 2017 and 2018 presented in metric tons (tonnes) and electricity usage presented in megawatt hours (MwH).2
YEAR ENDED DECEMBER 31, 2017 3
Region |
MWH |
CO2 (tonnes) |
CH4 (tonnes) |
N2O (tonnes) |
CO2e (tonnes) |
Rocky Mountain |
573,388 |
327,861 |
31 |
5 |
330,112 |
Gulf Coast |
1,374,073 |
611,422 |
44 |
6 |
614,330 |
Headquarters |
8,429 |
3,860 |
0 |
0 |
3,878 |
Total |
1,955,890 |
943,143 |
75 |
11 |
948,320 |
YEAR ENDED DECEMBER 31, 2018
Region |
MWH |
CO2 (tonnes) |
CH4 (tonnes) |
N2O (tonnes) |
CO2e (tonnes) |
Rocky Mountain |
586,747 |
336,199 |
32 |
5 |
338,505 |
Gulf Coast |
1,400,731 |
621,949 |
45 |
7 |
624,900 |
Headquarters |
7,827 |
3,584 |
0 |
0 |
3,601 |
Total |
1,995,305 |
961,732 |
77 |
12 |
967,006 |
1Scope 2 emissions are indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by a reporting company.
2Electricity usage presented in megawatt hours (MwH). Scope 2 emissions are based on actual electricity consumption and EPA’s Emissions & Generation Resource Integrated Database (eGRID) data for power grids utilized in our operations.
3Emissions reported may differ slightly from prior year’s reporting due to internal auditing and EPA’s changes to the reporting rule.
|
305-3 |
Energy indirect (Scope 3) GHG emissions |
See Details 
See information and charts below |
The following are Denbury’s Scope 31 emissions for 2017 and 2018.2
YEAR ENDED DECEMBER 31, 2017
Region |
MBBLS |
EPA Factor 3 |
CO 2e (tonnes) |
Rocky Mountain |
8,391 |
0.43 |
3,608,312 |
Gulf Coast |
17,714 |
0.43 |
7,616,922 |
Total |
26,105 |
0.43 |
11,225,234 |
Year Ended December 31, 2018
Region |
MBBLS |
EPA Factor 3 |
CO 2e (tonnes) |
Rocky Mountain |
8,667 |
0.43 |
3,726,662 |
Gulf Coast |
16,770 |
0.43 |
7,211,127 |
Total |
25,437 |
0.43 |
10,937,789 |
1Scope 3 emissions include all other indirect emissions that occur in a company’s value chain.
2Scope 3 emissions reported are limited to downstream commodities production including crude oil and natural gas. The emission totals assume combustion of both products using EPA CO2 emission factors for each.
35.80 mmbtu/barrel x 20.31 kg C/mmbtu x 44 kg CO2/12 kg C x 1 metric ton/1,000 kg = 0.43 metric tons CO2/barrel
https://www.epa.gov/energy/greenhouse-gases-equivalencies-calculator-calculations-and-references
|
305-4 |
GHG emissions intensity |
See Details 
See information and charts below |
GHG Intensity1 |
20172 |
2018 |
Oil production (bbls) |
26,105,195 |
25,436,718 |
Water production (bbls) |
327,916,547 |
326,497,909 |
CO2e emissions (tonnes) |
767,683 |
873,550 |
GHG intensity per barrel of oil (tonnes/bbls) |
0.02941 |
0.03434 |
GHG intensity per barrel of water
(tonnes/bbls) |
0.00234 |
0.00268 |
GHG intensity per barrel of total fluids
(tonnes/bbls) |
0.00217 |
0.00248 |
1Emissions are presented in metric tons (tonnes) and coincide with emissions calculations using EPA’s GHG Subpart W reporting requirements and applicability. GWPs for 2017 and 2018 were used to calculate CO2e. Oil and water production volumes include all operational areas. All data year ended December 31, 2017 and December 31, 2018.
2Emissions reported may differ slightly from prior year’s reporting due to internal auditing and EPA’s changes to the reporting rule.
|
Effluents and Waste |
306-3 |
Significant spills |
See Details 
See information and charts below |
YEAR ENDED DECEMBER 31, 2017 1
Oil |
Rockies |
Gulf Coast |
Total |
Oil Spills (bbls)2 |
422 |
3,552 |
3,974 |
Gross Oil Production (Mbbls) |
8,391 |
17,714 |
26,105 |
Oil Spill Volume as a % of Production |
0.005% |
0.020% |
0.015% |
Water |
Rockies |
Gulf Coast |
Total |
Water Spills (bbls)2 |
9,499 |
22,413 |
31,912 |
Water Production (Mbbls) |
115,196 |
212,721 |
327,917 |
Water Spill Volume as a % of Production |
0.008% |
0.011% |
0.010% |
Year Ended December 31, 2018
Oil |
Rockies |
Gulf Coast |
Total |
Oil Spills (bbls) 2 |
306 |
511 |
817 |
Gross Oil Production (Mbbls) |
8,667 |
16,770 |
25,437 |
Oil Spill Volume as a % of Production |
0.004% |
0.003% |
0.003% |
Water |
Rockies |
Gulf Coast |
Total |
Water Spills (bbls) 2 |
7,650 |
2,880 |
10,530 |
Water Production (Mbbls) |
123,892 |
202,606 |
326,498 |
Water Spill Volume as a % of Production |
0.006% |
0.001% |
0.003% |
1Data may differ slightly from prior year’s reporting due to internal auditing.
2Includes only spills >1 bbl.
|
GRI 400: SOCIAL |
Employment |
401-1 |
New employee hires and employee turnover |
See Details 
See information and charts below |
New
Hires |
2017 |
2018 |
New Hires by Age: |
|
|
|
|
> 50 years old |
12 |
26% |
4 |
7% |
30 – 50 years old |
25 |
53% |
35 |
65% |
< 30 years old |
10 |
21% |
15 |
28% |
Total |
47 |
|
54 |
|
New Hires by Gender: |
|
|
|
|
Female |
7 |
15% |
14 |
26% |
Male |
40 |
85% |
40 |
74% |
Total |
47 |
|
54 |
|
New Hires by Region: |
|
|
|
|
Gulf Coast (TX, LA, MS, AL) |
16 |
34% |
4 |
8% |
Rockies (WY, MT, ND) |
13 |
28% |
12 |
22% |
Headquarters (Plano, TX) |
18 |
38% |
38 |
70% |
Total |
47 |
|
54 |
|
Rate of New Hires
(calculated using the average employee number during the reporting year) |
5% (47/998) |
6.2% (54/865) |
Turnover |
2017 |
2018 |
Turnover by Age: |
|
|
|
|
> 50 years old |
84 |
37% |
33 |
38% |
30 – 50 years old |
121 |
54% |
46 |
54% |
< 30 years old |
21 |
9% |
7 |
8% |
Total |
226 |
|
86 |
|
Turnover by Gender: |
|
|
|
|
Female |
70 |
31% |
10 |
12% |
Male |
156 |
69% |
76 |
88% |
Total |
226 |
|
86 |
|
Turnover by Region: |
|
|
|
|
Gulf Coast (TX, LA, MS, AL) |
54 |
24% |
43 |
50% |
Rockies (WY, MT, ND) |
22 |
10% |
16 |
19% |
Headquarters (Plano, TX) |
150 |
66% |
27 |
31% |
Total |
226 |
|
86 |
|
Rate of Employee Turnover
(calculated using the average employee number
during the reporting year) |
23% (226/998) |
9.9% (86/865) |
Rate of Turnover Excluding Involuntary Terminations and Retirements (calculated using the average employee number during the reporting year) |
7% (65/998)1 |
6.1% (53/865) |
1As part of our efforts to reduce overhead and operating costs in response to the continuing decline in oil prices in 2017, we reduced our employee headcount through an involuntary workforce reduction, which contributed to an overall headcount reduction of approximately 16% in 2017.
All data year ended December 31, 2017 and December 31, 2018.
|
|
401-2 |
Benefits provided to full-time employees that are not
provided to temporary or part-time employees |
See Details 
See chart below which contains a list of the primary
benefits offered to full and part-time employees
(employees who work less than 30 hours per week).
Denbury has historically had a very low number of
part-time employees. In the past 5 years part-time
employees made up less than 1% of our employee base.
See GRI 102-8. Employees in all of Denbury’s regions
have access to the benefits provided below. |
Benefits |
Full-Time
Employees |
Part-Time
Employees |
Medical Coverage |
X |
|
Dental Coverage |
X |
|
Vision Coverage |
X |
|
Life Insurance |
X |
|
Whole Life Insurance |
X |
|
Critical Illness Coverage |
X |
|
Disability Insurance (Short- and Long-Term) |
X |
|
Flexible Spending and Health Savings Accounts |
X |
|
Teladoc |
X |
|
Employee Assistance Program |
X |
X |
Travel Assistance Program |
X |
X |
Adoption Assistance Program |
X |
|
Wellness Program |
X |
|
Holidays (10) |
X |
|
Vacation and Sick Time |
X |
X1 |
Long-Term Incentives |
X2 |
|
401(k) |
X |
X |
1Employees who work less than 40 hours
but more than 20 hours a week will have their
vacation and sick time pro-rated accordingly.
Employees who work less than 20 hours/week are not
eligible for vacation or sick time.
2Eligible employees only.
|
Occupational Health and Safety |
403-1 |
Occupational health and safety management system |
See Details 
Denbury’s HSE Committee has employee representatives from our CO2 Business Unit, Enterprise Asset Management, Gulf Coast Business Unit, HSE & Regulatory, Maintenance & Repair, North Business Unit, Operations, Operations Efficiency, Operations Excellence, Operations Services, Project Management, and Well Completions & Workover departments. 100% of our operational employees are represented by the HSE Committee, which is approximately 70% of all Denbury employees. |
403-2 |
Hazard identification, risk assessment, and incident
investigation |
See Details 
See charts below |
Year Ended December 31, 2017
Non-Tertiary Properties |
Injuries
(TRIR)1 |
DART2 |
Lost Time
Days3 |
Diseases |
Fatalities |
Rocky Mountain Region |
0.58 |
0.58 |
11 |
0 |
0 |
Gulf Coast Region |
0.66 |
0.44 |
90 |
0 |
0 |
Headquarters |
0.00 |
0.00 |
0 |
0 |
0 |
Denbury Total |
0.36 |
0.27 |
101 |
0 |
0 |
Industry Average |
1.00 |
0.60 |
|
|
|
Year Ended December 31, 2018
Non-Tertiary Properties |
Injuries
(TRIR)1 |
DART2 |
Lost Time
Days |
Diseases |
Fatalities |
Rocky Mountain Region |
0.65 |
0.00 |
0 |
0 |
0 |
Gulf Coast Region |
0.00 |
0.00 |
0 |
0 |
0 |
Headquarters |
0.00 |
0.00 |
0 |
0 |
0 |
Denbury Total |
0.11 |
0.00 |
0 |
0 |
0 |
Industry Average |
0.80 |
0.40 |
|
|
|
1 Total Recordable Incident Rate (TRIR) is the number of Occupational Safety and Health Administration (OSHA) recordable incidents for every 200,000 hours worked.
2 Days Away/Restricted or Transfer Rate (DART) is the number of days away from work, work restriction or job transfer resulting from OSHA recordable incidents and illnesses for every 200,000 hours worked.
3Lost Time Days may differ slightly from prior year’s reporting due to internal auditing.
The information above relates to Denbury’s employees only. It does not include data for contractors working for Denbury, and we do not record information based on gender. All data year ended December 31, 2017 and December 31, 2018.
|
Training and Education |
404-3 |
Percentage of employees receiving regular performance and career development reviews |
See Details 
100% of our employees (male and female), in every job category, are eligible and encouraged to participate in our performance and career development review each year. In 2017, 92% of our employees participated and in 2018, 89% of our employees participated. |
Diversity and Equal Opportunity |
405-1 |
Diversity of governance bodies and employees |
See Details 
See charts below |
YEAR ENDED DECEMBER 31, 2017
Category |
Gender |
Age |
Minorities |
Total |
Male |
Female |
<30 Yrs. |
30-50 Yrs. |
>50 Years |
Board of Directors |
7 |
1 |
0 |
0 |
8 |
0 |
8 |
Executives |
12 |
2 |
0 |
8 |
6 |
1 |
14 |
Managers |
136 |
24 |
0 |
88 |
72 |
9 |
160 |
Non-Managers |
565 |
140 |
50 |
401 |
254 |
93 |
705 |
Total Employees1 |
713 |
166 |
50 |
497 |
332 |
103 |
879 |
YEAR ENDED DECEMBER 31, 2018
Category |
Gender |
Age |
Minorities |
Total |
Male |
Female |
<30 Yrs. |
30-50 Yrs. |
>50 Years |
Board of Directors |
7 |
1 |
0 |
0 |
8 |
0 |
8 |
Executives |
12 |
2 |
0 |
7 |
7 |
1 |
14 |
Managers |
137 |
24 |
0 |
87 |
74 |
10 |
161 |
Non-Managers |
528 |
144 |
48 |
383 |
241 |
98 |
672 |
Total Employees1 |
677 |
170 |
48 |
477 |
322 |
109 |
847 |
1Excludes Board of Directors
|