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2021 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 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 5851 Legacy Circle, Suite 1200, 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, 2019
Employee Contractor Total
Employment Group by Gender:
Male 639 157 796
Female 167 11 178
Total 806 168 974
Employment Group by Region:
Gulf Coast (TX, LA, MS, AL) 307 92 399
Rockies (WY, MT, ND) 144 36 180
Headquarters (Plano, TX) 355 40 395
Total 806 168 974
YEAR ENDED DECEMBER 31, 2019
Male Female Total
Employment Type by Gender:
Full-time Employees 639 167 806
Part-time Employees 0 0 0
Total 639 167 806
Region & Gender:
Gulf Coast (TX, LA, MS, AL) 294 13 307
Rockies (WY, MT, ND) 133 11 144
Headquarters (Plano, TX) 212 143 355
Total 639 167 806
YEAR ENDED DECEMBER 31, 2020
Employee Contractor Total
Employment Group by Gender:
Male 519 169 688
Female 138 22 160
Total 657 191 848
Employment Group by Region:
Gulf Coast (TX, LA, MS, AL) 247 100 347
Rockies (WY, MT, ND) 118 27 145
Headquarters (Plano, TX) 292 64 356
Total 657 191 848
YEAR ENDED DECEMBER 31, 2020
Male Female Total
Employment Type by Gender:
Full-time Employees 519 137 656
Part-time Employees 0 1 1
Total 519 138 657
Employment Group by Region:
Gulf Coast (TX, LA, MS, AL) 236 11 247
Rockies (WY, MT, ND) 108 10 118
Headquarters (Plano, TX) 175 117 292
Total 519 138 657

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 2019 and 2020, Denbury spent approximately $361 million and $188 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.

Rudy Carreon, Pipeline Project Manager
• Board of Directors for the Texas Pipeline Association

Jenny Cochran, Senior Vice President – Business Services
• Board of Directors for the Energy Diversity & Inclusion Council

Dan Cole, Vice President – Commercial Development and Governmental Relations
• Chairman of the Board for Southeast Oil & Gas Association
• Board of Directors for the Texas Oil & Gas Association
• Member of the Energy Advance Center

Matthew Dahan, Senior Vice President – Business Development & Technology
• Board of Directors for the North Dakota Petroleum Council

Nicol Faught, Senior HR Business Partner
• Board of Directors for the Women’s Energy Network

Donna Lawrence, Tax Manager
• Board of Directors for the Wyoming Energy Authority
• Board of Directors for the Wyoming Taxpayers Association

Kate Ryan, Vice President – Gulf Coast Business Unit
• Member of the Advisory Board for the Plains CO2 Reduction Partnership

Greg Schnacke, Executive Director, Governmental Relations
• Board of Directors for the Domestic Energy Producers Alliance
• 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

Barbara Veltri, Employee Relations Manager
• Member of the Society for Human Resource Management

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. The Sustainability Committee of the Board of Directors oversees the Company’s health and safety, climate change, environmental, social and community policies, practices and procedures.
102-20 Executive-level responsibility for economic, environmental, and social topics Our senior management team, including the Denbury Carbon Solutions 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, including our Sustainability Committee, on these matters. See also, “Our Environment—Denbury Carbon Solutions”
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 Inc., Attention Corporate Secretary, 5851 Legacy Circle, Suite 1200, 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
- Board Meetings, Attendance and Committees
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 2022 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. The Sustainability Committee of the Board of Directors oversees the Company’s health and safety, climate change, environmental, social and community policies, practices and procedures.
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 Sustainability Committee has an oversight role with respect to the risk management process for health, safety, environmental, social and community matters; the Compensation Committee has an oversight role with respect to the risk management process for compensation-related matters; and the Audit Committee has an oversight role with respect to the Company’s principal business, financial, cybersecurity, 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 The Sustainability Committee of the Board of Directors oversees the Company’s health and safety, climate change, environmental, social and community policies, practices and procedures. Some of the Sustainability Committee’s duties and responsibilities include identifying risk areas and sustainability strategies related to health, safety, environmental, social and community issues; the Company’s compliance with applicable health, safety and environmental laws, rules and regulations; and monitoring the broader community, climate change and sustainability concerns and issues relevant to the Company’s business, positioning and prospects.
See also, “Our Company—Sustainability Governance.”
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 Inc., Attn: Corporate Secretary, 5851 Legacy Circle, Suite 1200, 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 Non-Employee 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.
See also, GRI 102-42 and “Our Report—Report Framework” for more information.
Proxy Statement:
- Executive Compensation -- 2020 Say-on-Pay Results
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 -- 2020 Say-on-Pay Results
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 The reporting period is 2019 and 2020. 2021 data is included in sections where relevant and helpful
102-51 Date of most recent previous report Our 2019 report was released in March of 2020
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 the underground storage of CO2 while making our nation more energy secure.
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 employees being represented and heard.
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, 305-1, 305-2, 305-3, 305-4, 306-3, 401-1, 401-2, 403-1, 403-2, 404-3, 405-1, and G4-OG1.
103-3 Evaluation of the management approach See GRI 201-1, 203-2, 305-1, 305-2, 305-3, 305-4, 306-3, 401-1, 401-2, 403-1, 403-2, 404-3, 405-1, 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, 2019		 In thousands ($)
Direct Economic Value Generated (1) Revenues Combined total of oil, natural gas, and related product sales; CO2 sales and transportation fees; oil marketing revenues; and other income 1,274,883
Economic Value Distributed (1) Operating Costs (2) Combined total of lease operating expenses; transportation and marketing expenses; CO2 operating and discovery expenses; oil marketing expenses; and general and administrative expenses 619,105
Capital Investment Capitalized expenditures (excluding acquisitions), which includes, but is not limited to, capitalized employee wages and benefits 236,921
Payments to Providers of Capital Combined total of cash interest expense; gain on early extinguishment of debt; and settlements of commodity derivatives 11,850
Payments to Government Combined total of taxes other than income and current income taxes 97,633
Economic Value Retained (Distributed) 309,374
Year Ended
December 31, 2020		 In thousands ($)
Direct Economic Value Generated (1) Revenues Combined total of oil, natural gas, and related product sales; CO2 sales and transportation fees; oil marketing revenues; and other income 750,712
Economic Value Distributed (1) Operating Costs (2) Combined total of lease operating expenses; transportation and marketing expenses; CO2 operating and discovery expenses; oil marketing expenses; and general and administrative expenses 475,541
Capital Investment Capitalized expenditures (excluding acquisitions), which includes, but is not limited to, capitalized employee wages and benefits 95,168
Payments to Providers of Capital Combined total of cash interest expense; gain on early extinguishment of debt; and settlements of commodity derivatives (10,378)
Payments to Government Combined total of taxes other than income and current income taxes 52,885
Economic Value Retained (Distributed) 137,496

(1)Amounts represent the combined results for the predecessor and successor periods, but exclude amounts associated with the Company’s restructuring.
(2)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, 2020

As of December 31, 2020, Denbury’s total proved oil and natural gas reserves were approximately 143 million barrels of oil equivalent (“MMBOE”), consisting of 140 million barrels of crude oil, condensate and natural gas liquids (together, “liquids”), and 16 billion cubic feet (3 million BOE) of natural gas. Reserves were 98% liquids and 97% proved developed, with 57% of total proved reserves attributable to Denbury’s CO2 EOR operations. Total tertiary reserves at December 31, 2020 were 82 MMBOE and total non-tertiary reserves were 61 MMBOE.

Tertiary Properties Oil (MBbls) Natural Gas (MMcf) TOTAL MBOEs
Gulf Coast Region 70,577 – 70,577
Rocky Mountain Region 11,618 – 11,618
Total Tertiary 82,195 – 82,195
Non-Tertiary Properties
Gulf Coast Region 11,726 13,474 13,972
Rocky Mountain Region 46,578 2,130 46,933
Total Non-Tertiary 58,304 15,604 60,905
Total 140,499 15,604 143,100

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 2020. These prices were $39.57 per Bbl for crude oil and $1.99 per MMBtu for natural gas.

Production Data Year Ended December 31, 2020

Denbury’s 2020 production totaled 49,828 barrels of oil per day (“Bbls/d”) and 7,938 thousand cubic feet (“Mcf”) of natural gas per day. Oil production included 34,135 Bbls/d from tertiary properties and 15,693 Bbls/d from non-tertiary properties.

Tertiary Properties Oil (Bbls/day) Natural Gas (Mcf/day)
Gulf Coast Region 26,675 –
Rocky Mountain Region 7,460 –
Total Tertiary 34,135 –
Non-Tertiary Properties
Gulf Coast Region 3,267 4,404
Rocky Mountain Region 12,426 3,534
Total Non-Tertiary 15,693 7,938
Total 49,828 7,938

A complete report of our estimated proved reserves, production, our report methodology and definitions is included in our Annual Report on Form 10-K.
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 2019 and 2020 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, 2019
Region CO2 (tonnes) CH4 (tonnes) N2O (tonnes) CO2e (tonnes)
Rocky Mountain 225,790 2,538 0.39 289,355
Gulf Coast 376,177 5,462 0.64 512,927
Total 601,967 8,000 1.03 802,282
YEAR ENDED DECEMBER 31, 2020
Region CO2 (tonnes) CH4 (tonnes) N2O (tonnes) CO2e (tonnes)
Rocky Mountain 210,484 2,238 0.33 266,524
Gulf Coast 423,121 3,560 0.78 512,342
Total 633,605 5,798 1.11 778,866

Scope 1 – Vehicle Fuel Consumption emissions:

YEAR ENDED DECEMBER 31, 2019
Region Gasoline (gal) Diesel (gal) CO2e (tonnes)
Rocky Mountain 182,541 5,196 1,675
Gulf Coast 263,436 6,058 2,403
Headquarters - - -
Total 445,977 11,254 4,078
YEAR ENDED DECEMBER 31, 2020
Region Gasoline (gal) Diesel (gal) CO2e (tonnes)
Rocky Mountain 162,729 2,685 1,474
Gulf Coast 184,175 3,295 1,670
Headquarters - - -
Total 346,904 5,980 3,144

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 2019 and 2020 were used to calculate CO2e.
305-2 Energy indirect (Scope 2) GHG emissions See Details
See information and charts below

The following are Denbury’s Scope 21 emissions for 2019 and 2020 presented in metric tons (tonnes) and electricity usage presented in megawatt hours (MwH).2

YEAR ENDED DECEMBER 31, 2019
Region MWH CO2 (tonnes) CH4 (tonnes) N2O (tonnes) CO2e (tonnes)
Rocky Mountain 606,071 342,056 36.69 5.33 344,542
Gulf Coast 1,377,636 589,595 42.63 6.20 592,491
Headquarters 8,890 3,758 0.27 0.04 3,776
Total 1,992,597 935,409 79.59 11.57 940,809
YEAR ENDED DECEMBER 31, 2020
Region MWH CO2 (tonnes) CH4 (tonnes) N2O (tonnes) CO2e (tonnes)
Rocky Mountain 595,324 336,503 36.06 5.24 338,947
Gulf Coast 1,300,896 548,644 39.03 5.66 551,293
Headquarters 5,162 2,182 0.15 0.02 2,193
Total 1,901,382 887,329 75.24 10.92 892,433

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.

305-3 Energy indirect (Scope 3) GHG emissions See Details
See information and charts below

The following are Denbury’s Scope 31 emissions for 2019 and 2020.2

YEAR ENDED DECEMBER 31, 2019
Region MBBLS EPA Factor 3 CO 2e (tonnes)
Rocky Mountain 8,876 0.43 3,816,680
Gulf Coast 15,306 0.43 6,581,612
Total 24,182 0.43 10,398,292
Region MCF EPA Factor 4 CO 2e (tonnes)
Rocky Mountain 2,106,579 0.0551 116,073
Gulf Coast 2,162,587 0.0551 119,159
Total 4,269,166 0.0551 235,232
Region Industrial EOR Purchasers Other Industrial Purchasers CO 2e (tonnes)
Rocky Mountain - - -
Gulf Coast 9,637 933,625 943,262
Total 9,637 933,625 943,262
TOTAL CO2 (tonnes) CO 2e (tonnes)
Rocky Mountain 3,932,753
Gulf Coast 7,644,033
Total CO2 (tonnes) 11,576,786
YEAR ENDED DECEMBER 31, 2020
Region MBBLS EPA Factor 3 CO 2e (tonnes)
Rocky Mountain 7,932 0.43 3,410,559
Gulf Coast 13,615 0.43 5,854,324
Total 21,547 0.43 9,264,883
Region MCF EPA Factor 4 CO 2e (tonnes)
Rocky Mountain 1,651,539 0.0551 91,000
Gulf Coast 2,002,132 0.0551 110,317
Total 3,653,671 0.0551 201,317
Region Industrial EOR Purchasers Other Industrial Purchasers CO 2e (tonnes)
Rocky Mountain - - -
Gulf Coast 4,188 1,189,001 1,193,189
Total 4,188 1,189,001 1,193,189
TOTAL CO2 (tonnes) CO 2e (tonnes)
Rocky Mountain 3,501,559
Gulf Coast 7,157,830
Total CO2 (tonnes) 10,659,389

1Scope 3 emissions include all other indirect emission that occur in a company’s value chain.

2Denbury's Scope 3 emissions reported are limited to 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

420.0053 metric tons CO2/therm x 10.39 therms/Mcf = 0.0551 metric tons CO2/Mcf

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  2019  2020
Oil production (bbls) 24,182,075 21,546,240
Water production (bbls) 326,497,909 290,484,957
CO2e emissions (tonnes) 802,282 778,866
GHG intensity per barrel of oil (tonnes/bbls) 0.03318 0.03615
GHG intensity per barrel of water (tonnes/bbls) 0.00246 0.00268
GHG intensity per barrel of total fluids (tonnes/bbls) 0.00229 0.00250

1Emissions are presented in metric tons (tonnes) and coincide with emissions calculations using EPA’s GHG Subpart W reporting requirements and applicability. GWPs for 2019 and 2020 were used to calculate CO2e. Oil and water production volumes include all operational areas. All data year ended December 31, 2019 and December 31, 2020.
Effluents and Waste
306-3 Significant spills See Details
See information and charts below
YEAR ENDED DECEMBER 31, 2019
Oil Rockies Gulf Coast Total
Oil Spills (bbls)1 1,060 930 1,990
Gross Oil Production (Mbbls) 8,876 15,306 24,182
Oil Spill Volume as a % of Production 0.012% 0.006% 0.008%
Water Rockies Gulf Coast Total
Water Spills (bbls)1 6,982 10,774 17,756
Water Production (Mbbls) 123,892 202,606 326,498
Water Spill Volume as a % of Production 0.006% 0.005% 0.005%
Year Ended December 31, 2020
Oil Rockies Gulf Coast Total
Oil Spills (bbls) 1 123 343 466
Gross Oil Production (Mbbls) 7,931 13,615 21,546
Oil Spill Volume as a % of Production 0.002% 0.003% 0.002%
Water Rockies Gulf Coast Total
Water Spills (bbls) 1 8,971 17,407 26,378
Water Production (Mbbls) 118,486 171,999 290,485
Water Spill Volume as a % of Production 0.008% 0.010% 0.009%

1Includes 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 2019 2020
Number of New Hires by Age:



> 50 years old 5 19% 5 38%
30 – 50 years old 11 42% 7 54%
< 30 years old 10 39% 1 8%
Total 26
13
New Hires by Gender:



Female 9 35% 6 46%
Male 17 65% 7 54%
Total 26
13
New Hires by Region:



Gulf Coast (TX, LA, MS, AL) 3 11% 2 15%
Rockies (WY, MT, ND) 9 35% 2 15%
Headquarters (Plano, TX) 14 54% 9 70%
Total 26
13
Rate of New Hires (calculated using the average employee number during the reporting year) 3.1% (26/835) 1.9% (13/694)
Turnover 20191 2020
Turnover by Age:



> 50 years old 43 64% 113 70%
30 – 50 years old 17 25% 43 26%
< 30 years old 7 11% 6 4%
Total 67
162
Turnover by Gender:



Female 12 18% 35 22%
Male 55 82% 127 78%
Total 67
162
Turnover by Region:



Gulf Coast (TX, LA, MS, AL) 34 51% 62 38%
Rockies (WY, MT, ND) 10 15% 28 17%
Headquarters (Plano, TX) 23 34% 72 45%
Total 67
162
Rate of Employee Turnover (calculated using the average employee number during the reporting year) 8.0% (67/835) 23.3% (162/694)
Rate of Turnover Excluding Involuntary Terminations and Retirements (calculated using the average employee number during the reporting year) 2.9% (24/835) 3.0% (21/694))

1In December 2019, we made a voluntary separation program offer to certain eligible employees as part of the Company’s ongoing efforts to reduce costs.

All data year ended December 31, 2019 and December 31, 2020.
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 CCUS, Enterprise Asset Management, Gulf Coast Business Unit, HSE, Maintenance & Repair, North Business Unit, Operations, Operations Excellence, Pipeline & 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, 2019
Region Injuries
(TRIR)1		 DART 2 Lost Time
Days		 Diseases Fatalities
Rocky Mountain Region 0.00 0.00 0 0 0
Gulf Coast Region 0.62 0.62 194 0 0
Headquarters 0.53 0.26 133 0 0
Denbury Total 0.47 0.35 327 0 0
Industry Average 0.60 0.40


Year Ended December 31, 2020
Region Injuries
(TRIR)1		 DART 2 Lost Time
Days		 Diseases Fatalities
Rocky Mountain Region 2.40 1.60 17 0 0
Gulf Coast Region 1.13 1.13 76 2 0
Headquarters 0.00 0.00 0 0 0
Denbury Total 0.84 0.70 93 2 0
Industry Average 3 - -


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.

3 The Bureau of Labor Statistics has not yet published industry averages for TRIR or DART for the year 2020.

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, 2019 and December 31, 2020.

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, participate in our performance and career development review each year.
Diversity and Equal Opportunity
405-1 Diversity of governance bodies and employees See Details
See charts below
YEAR ENDED DECEMBER 31, 2019
Category Gender Age Minorities Total
Male Female <30 Yrs. 30-50 Yrs. >50 Years
Board of Directors 6 2 0 0 8 0 8
Executives 12 2 0 5 9 1 14
Managers 134 23 0 87 70 9 157
Non-Managers 493 142 40 363 232 96 635
Total Employees1 639 167 40 455 311 106 806
YEAR ENDED DECEMBER 31, 2020
Category Gender Age Minorities Total
Male Female <30 Yrs. 30-50 Yrs. >50 Years
Board of Directors 6 1 0 0 7 1 7
Executives 12 2 0 6 8 1 14
Managers 119 18 0 85 52 10 137
Non-Managers 388 118 24 328 154 84 506
Total Employees1 519 138 24 419 214 95 657

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. 13-22
EM-EP-000.C Number of Terrestrial Sites Annual Report on Form 10K, pp. 13-22
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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