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2019 Corporate Responsibility Report
Global Reporting Initiative (GRI) Content Index
Sustainability Accounting Standards Board's (SASB) Oil & Gas -- Exploration & Production Sustainability Accounting Standard Index
Task Force For Climate-Related Financial Disclosures (TCFD) Index

Global Reporting Initiative (GRI) Content Index

GRI STANDARD DISCLOSURE TITLE DISCLOSURE AND/OR LOCATION OF DISCLOSURE
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

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Sustainability Accounting Standards Board's (SASB) Oil & Gas -- Exploration & Production Sustainability Accounting Standard Index

SASB CODE DISCLOSURE TITLE DISCLOSURE AND/OR LOCATION OF DISCLOSURE
Activity Metric
EM-EP-000.A Oil and Natural Gas Production Annual Report on Form 10K, pp. 12-18
EM-EP-000.C Number of Terrestrial Sites Annual Report on Form 10K, pp. 12-18
Greenhouse Gas Emissions
EM-EP-110a.1 Gross Global Scope 1 Emissions See GRI 305-1
See also, “Our Environment—Managing Our Carbon Footprint”
EM-EP-110a.2 Gross Global Scope 1 Emissions by Source See GRI 305-1
See also, “Our Environment—Managing Our Carbon Footprint”
EM-EP-110a.3 Emission Reduction Plans, Targets and Performance See “Our Report—The Denbury Difference” and “Our Environment—Managing Our Carbon Footprint”
Water Management
EM-EP-140a.2 Volume of Produced Water and Flowback Generated, Discharged, Injected and Recycled See GRI 305-4 and 306-3
Biodiversity Impacts
EM-EP-160a.1 Environmental Management Policies and Practices for Active Sites See “Our Environment—Managing Our Environmental Footprint” and “Our Environment—HSE Management Systems”
EM-EP-160a.2 Number and Aggregate Volume of Hydrocarbon Spills See GRI 306-3
See also, “Our Environment—Managing Spills & Releases”
Security, Human Rights & Rights of Indigenous Peoples
EM-EP-210a.3 Engagement and Due Diligence Practices on Human Rights and Indigenous Rights See “Our People—Employee Well-being & Engagement—Human Rights”
Community Relations
EM-EP-210b.1 Process to Manage Risk and Opportunities Associated with Community Rights and Interests See “Our Communities—Investing” and “Our Communities—Communicating”
Workforce Health & Safety
EM-EP-320a.1 Safety Performance and Training See GRI 403-2
See also, “Our People—Employee & Contractor Safety” and “Our People—Employee Training & Development—HSE Training Workshops”
EM-EP-320a.2 Management Systems Used to Integrate a Culture of Safety See “Our People—Employee & Contractor Safety” and “Our People—Employee Training & Development—HSE Training Workshops”
Business Ethics & Transparency
EM-EP-510a.1 Percentage of Reserves in Countries with 20 Lowest Rankings in Transparency International’s Corruption Perception Index None
EM-EP-510a.2 Management System for Prevention of Corruption and Bribery Throughout the Value Chain See “Our Company—Core Values” and “Our Company—Sustainability Governance—Denbury’s Code of Conduct and Company Policies”
See also, Denbury’s Code of Conduct and Ethics
Critical Incident Risk Management
EM-EP-540a.1 Tier 1 Loss of Primary Containment Events See GRI 306-3 and 403-2
See also, “Our Environment—Managing Spills & Releases” and “Our People—Employee & Contractor Safety”
EM-EP-540a.2 Management Systems Used to Identify and Mitigate Catastrophic and Tail-end Risks See “Our Environment—Managing Spills & Releases—Emergency Response Plan”

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Task Force For Climate-Related Financial Disclosures (TCFD) Index

DISCLOSURE TITLE DISCLOSURE AND/OR LOCATION OF DISCLOSURE
Governance
Board’s Oversight of Climate-Related Risks and Opportunities See “Our Company—Sustainability Governance—Risk Oversight”
Management’s Role in Assessing and Managing Climate-Related Risks and Opportunities See “Our Company—Sustainability Governance—Risk Oversight”
Strategy
Climate-Related Risks and Opportunities Identified See “Our Report—The Denbury Difference”, “Our Environment—Managing Our Carbon Footprint”, “Our Environment—Managing Our Environmental Footprint” and “Our Environment—Managing Spills & Releases”
Impact of Climate-Related Risks and Opportunities on Businesses, Strategy and Financial planning See “Our Environment—Managing Our Carbon Footprint”
Risk Management
Process for Identifying and Assessing Climate-Related Risks See “Our Company—Sustainability Governance—Risk Oversight” and “Our Environment—Managing Our Carbon Footprint”
Process for Managing Climate-Related Risks See “Our Company—Sustainability Governance—Risk Oversight” and “Our Environment—Managing Our Carbon Footprint”
Process for Identifying, Assessing and Managing Climate-Related Risks in Overall Risk Management See “Our Company—Sustainability Governance—Risk Oversight” and “Our Environment—Managing Our Carbon Footprint”
Metrics and Targets
Metrics Used to Assess Climate-Related Risks and Opportunities See GRI 305-1, 305-2, and 305-3
See also, “Our Environment—Managing Our Carbon Footprint”
Greenhouse Gas Emissions (Scope 1, 2 and 3) See GRI 305-1, 305-2, and 305-3
See also, “Our Environment—Managing Our Carbon Footprint” and “Our Report—The Denbury Difference”
Targets Used to Manage Climate-Related Risks and Opportunities and Performance See “Our Environment—Managing Our Carbon Footprint” and “Our Report—The Denbury Difference”

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