Denbury Resources +3% After Ruling In Wyoming Helium Supply Contract Case

  • Denbury Resources +2.9% pre-market after disclosing a generally favorable trial court ruling in the Riley Ridge helium supply contract case.
  • The court said DNR’s performance was excused by the force majeure provisions of the contract for a 35-day period in 2014, but that the company should pay liquidated damages and interest as provided in the contract, which DNR estimates will total $39.8M plus $3.5M in interest.
  • DNR says it continues to believe its contractual obligations have been and continue to be excused by events that fall within the force majeure provisions in the helium supply contract.

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