Denbury Waves Goodbye to President, COO

Denbury announced that Tracy Evans has resigned from his position as President and Chief Operating Officer. Mr. Evans began his career with Denbury in September 1999 and became President and Chief Operating Officer in June 2009.

Phil Rykhoek, CEO of Denbury, said, "Tracy has made a significant contribution to the strategy and growth of Denbury for more than a decade and the Board and I would like to sincerely thank him for this valuable service. We wish him the best in the future and also appreciate his willingness to remain available to us as a technical consultant for the next several years."

Tracy Evans said, "In the past 12 years, I have been fortunate to work with a great group of people and together we have been successful at transforming Denbury into the world's leading CO2 enhanced oil recovery company. There are many great days ahead for Denbury; nonetheless for me, it is time to pursue other opportunities and challenges. I appreciate the opportunity to come to Denbury and the support of all the employees and Board of Directors during my tenure."

The Company does not plan to immediately name another Chief Operating Officer. The operational aspects of the Company will continue to be managed by the Company's two operations Senior Vice Presidents, Robert Cornelius, Sr. Vice President of CO2 Operations, and Craig McPherson, Sr. Vice President of Production Operations, with overall oversight responsibility to be assumed by Mr. Rykhoek, CEO of Denbury, who will also assume the title of President of the Company.


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