This article was originally published by TheStreet on November 18, 2014.
By Sarfaraz A. Khan
NEW YORK (TheStreet) -- Denbury Resources (DNR) is the latest oil producer to cut its spending plans for next year in the face of deteriorating crude oil prices, and this could bring an end to the company's production and earnings growth.
On Friday, the Plano, Texas-based company, which generates a majority of oil and gas from theGulf Coast region of Mississippi, Texas, Louisiana and Alabama, said it will cut its capital spending next year by 50% to $550 million. Further, Denbury said its production will largely be flat in 2015 as compared to 2014, at around 74,500 barrels of oil equivalents a day.
