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Press release from GlobeNewswire (a Nasdaq OMX company)

Denbury Announces Offering of Senior Subordinated Notes

Tuesday, January 22, 2013

Denbury Announces Offering of Senior Subordinated Notes04:32 EST Tuesday, January 22, 2013PLANO, Texas, Jan. 22, 2013 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (NYSE:DNR) ("Denbury" or the "Company") announced today that it has filed a registration statement with the Securities and Exchange Commission ("SEC") relating to the public offering of $1.0 billion of senior subordinated notes due 2023. Denbury intends to use the net proceeds from the offering to fund the repurchase of any and all of its $426.4 million aggregate principal amount of 9.75% senior subordinated notes due March 2016 and any and all of its $224.9 million aggregate principal amount of 9.5% senior subordinated notes due May 2016, for which tender offers were announced earlier today. The remaining proceeds from this offering will be used for repayment of current borrowings under its bank credit facility and then for general corporate purposes. BofA Merrill Lynch, J.P. Morgan, Credit Suisse, Wells Fargo Securities, Credit Agricole Securities, and RBC Capital Markets are acting as joint book-running managers for this senior subordinated notes offering. When available, a copy of the final prospectus for the offering may be obtained on the SEC's website at www.sec.gov. Alternatively, the underwriters will arrange to send you the prospectus if you request them by contacting BofA Merrill Lynch at 222 Broadway, 11th Floor, New York, New York 10038, Attention: Prospectus Department or email dg.prospectus_requests@baml.com. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.  Such an offer can only be made by delivery of a prospectus that has been filed with the SEC. Denbury Resources Inc. is a growing independent oil and natural gas company. The Company is the largest combined oil and natural gas operator in both Mississippi and Montana, owns the largest reserves of CO2 used for tertiary oil recovery east of the Mississippi River, and holds significant operating acreage in the Rocky Mountain and Gulf Coast regions. The Company's goal is to increase the value of acquired properties through a combination of exploitation, drilling and proven engineering extraction practices, with its most significant emphasis relating to tertiary oil recovery operations. For more information about Denbury, please visit www.denbury.com. The Denbury Resources Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11385  Certain statements in this press release may constitute "forward-looking statements" within the meaning of Federal securities laws. The events and circumstances referred to in forward-looking statements are subject to numerous risks and uncertainties that are detailed in the Company's filings with the SEC, including Denbury's most recent reports on Form 10-K and Forms 10-Q. These risks and uncertainties are incorporated by this reference as though fully set forth herein, and these events and circumstances may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. CONTACT: DENBURY CONTACTS: Phil Rykhoek, President and CEO, 972.673.2000 Mark Allen, Senior Vice President and CFO, 972.673.2000 Jack Collins, Executive Director, Investor Relations, 972.673.2028