Denbury Prices Senior Notes Offering at $400MM

Denbury has priced its offering of $400 million principal amount of Senior Subordinated Notes due August 15, 2021. The notes will carry a coupon rate of 6⅜% and are being sold at 100% of par. The Company expects to close the sale of the notes on February 17, 2011.

The net proceeds from the offering will be used to partially fund tender offers, which have commenced, for the Company’s $225 million principal amount of 7½% Senior Subordinated Notes due 2013 and the Company’s $300 million principal amount of 7½% Senior Subordinated Notes due 2015.

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