Denbury Resources Inc., Dallas, (NYSE: DNR) reports its second-quarter profits nearly doubled due to higher oil prices and production levels, including a 61% increase in production from the Barnett shale.

Denbury chief executive Gareth Roberts says average production from the Barnett increased to 13,434 barrels of oil equivalent per day in the second quarter as compared with an average production of 8,368 barrels of oil equivalent per day for the same quarter of 2007.

Roberts says the company is maintaining a steady drilling program of 45 to 50 wells per year, which he adds is currently expected to maintain a relatively steady production level.

Roberts says total production for the quarter was 46,305 barrels of oil equivalent per day, a 25% increase over the second quarter of 2007 and a 4% sequential increase over the first quarter of 2008.

For the second quarter, Denbury posted a profit of $114.1 million up 82% from $62.6 million in the year-ago period. Revenue jumped 88 percent to $418 million from $222.5 million over the year-ago period. Revenue from oil sales more than doubled between the periods, to $327 million from $151.2 million, but expenses also jumped, to $234.3 million from $120 million. JAS