Denbury Announces Pricing and Upsizing of Its Senior Subordinated Notes Offering

Denbury Announces Pricing and Upsizing of Its Senior Subordinated Notes

PLANO, Texas, April 16, 2014 (GLOBE NEWSWIRE) -- Denbury Resources Inc.
(NYSE:DNR) ("Denbury" or the "Company") today announced that it has priced its
public offering of senior subordinated notes due May 2022 and increased the
size of the offering from $1.1 billion to $1.25 billion aggregate principal
amount of notes. The notes will bear interest at a rate of 5.5% and are being
sold at 100% of the principal amount. Denbury expects the issuance and
delivery of the senior subordinated notes to occur on April 30, 2014, subject
to customary closing conditions.

The net proceeds from the offering will be used primarily to fund the
repurchase of all $996.3 million aggregate outstanding principal amount of
Denbury's 8¼% Senior Subordinated Notes due 2020 ("2020 Notes"), for which a
tender offer and consent solicitation was announced earlier today ("Tender
Offer"). To the extent the Company purchases less than all of the outstanding
2020 Notes in the Tender Offer or the Tender Offer is not consummated for any
reason, pursuant to the make-whole provision in the indenture governing the
2020 Notes in connection with a satisfaction and discharge of such indenture,
the Company intends to use the net proceeds from the offering to redeem the
2020 Notes not purchased in the Tender Offer. The remaining net proceeds from
the offering will be used by Denbury to reduce borrowings under its bank
credit facility and for general corporate purposes.

Wells Fargo Securities, BofA Merrill Lynch, Credit Suisse Securities, J.P.
Morgan, 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 Alternatively, the underwriters will arrange
to send you the prospectus upon request to: Wells Fargo Securities at 550
South Tryon St., 7th Floor, Charlotte, NC 28202, Attn: Client Support or by
email at or by calling (800) 326-5897; BofA
Merrill Lynch at 222 Broadway, 11th Floor, New York, NY 10038, Attn:
Prospectus Department or by email at; Credit
Suisse Securities at One Madison Avenue, New York, NY 10010, Attn: Prospectus
Department or by calling (800) 221-1037 or by email at; or J.P. Morgan c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (866)

This news 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. The Tender Offer announced today is being made
pursuant to an Offer to Purchase and Consent Solicitation Statement, dated
April 16, 2014, and related Letter of Transmittal and Consent. Under no
circumstances shall this press release constitute an offer to buy or the
solicitation of an offer to sell the 2020 Notes.

Denbury is a growing, dividend-paying, domestic oil and natural gas company.
The Company's primary focus is on enhanced oil recovery utilizing carbon
dioxide, and its operations are focused in two key operating areas: the Gulf
Coast and Rocky Mountain 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 the most significant emphasis
relating to tertiary recovery operations.

This news release, other than historical financial information, contains
forward-looking statements that involve risks and uncertainties including
risks and uncertainties detailed in the prospectus contained in the
registration statement referred to above and in Denbury's filings with the
Securities and Exchange Commission, including Denbury's most recent report on
Form 10-K. These risks and uncertainties are incorporated by this reference as
though fully set forth herein. These statements are based on engineering,
geological, financial and operating assumptions that management believes are
reasonable based on currently available information; however, management's
assumptions and Denbury's future performance are both subject to a wide range
of business risks, and there is no assurance that Denbury's goals and
performance objectives can or will be realized. Actual results may vary
materially. In addition, any forward-looking statements represent Denbury's
estimates only as of today and should not be relied upon as representing its
estimates as of any future date. Denbury assumes no obligation to update its
forward-looking statements.

         Phil Rykhoek, President and CEO, 972.673.2000
         Mark Allen, Senior Vice President and CFO, 972.673.2000
         Jack Collins, Executive Director, Finance and Investor
         Relations, 972.673.2028

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