Denbury Resources Inc. (NYSE:DNR) has announced the reaffirmation of its borrowing base, a redetermination of its revolving credit facility. The redetermination is performed twice a year, by syndicate banks. For Fall-2016, the banks reaffirmed DNR’s borrowing base of $1.05 billion, of which $260 million had been outstanding, as of September 30, 2016. Moreover, the terms and conditions of the borrowing base remained unchanged and the next redetermination was scheduled for May 1, 2017.

Coupled with this, the company also announced that it would hold a conference call, on November 3, 2016, to discuss its 3Q2016 financial results and provide an update on its outlook for the rest of the year. The results would then be published, possibly before the markets open on the same day. A live webcast would be available for investors on Denbury’s website, at 10 A.M. Central. It should be noted here that DNR has been attracting a lot of attention from analysts, lately, following signs of improvement in the oil market.

Analysts at Zacks have pointed out that the company has seen revision activity with solid earnings estimates, during the last month. During this period, the company has successfully lowered its net loss from $0.03 per share, to $0.02 per share, with a similar trend in FY2016 estimates. As such, the 3Q2016 financial results would be an indication of how close these estimates really are. Currently, DNR is rated a buy, by Zacks.

At the start of October, Denbury also made a change in its top management, when it promoted Christian S. Kendall to president. He is currently the COO of the company and has held that position since last year. Mr. Kendall will continue as COO, until his replacement for the position can be found. He is going to replace the CEO Phil Rykohek, as the new president. Mr. Rykohek pointed out that the promotion had been made in light of the improvements in operational efficiency, made by the COO, during his tenure at the company.

Denbury Resources Inc. (NYSE:DNR) completed the October 21 trading session, with a loss of 2.41% in terms of its share value, on a trade volume of 9.37 million, to close at $2.83 per share.