DALLAS, March 29 /CNW/ - Denbury Resources Inc. (NYSE: DNR) announced
today that it has filed a registration statement with the Securities and
Exchange Commission relating to the public offering of $125 million of Senior
Subordinated Notes Due 2015. This offering of notes is to be an additional
issuance under the instrument governing Denbury's December 2005 sale of $150
million of Senior Subordinated Notes due 2015, with both sets of notes to
trade as a single class. Denbury expects to complete the offering next week.
Denbury plans to use the estimated net proceeds from the offering to
repay a portion of the current borrowings under the Company's bank credit
facility, under which approximately $180 million was outstanding as of March
J.P. Morgan Securities Inc. and Johnson Rice & Company LLC are acting as
underwriters for the notes offering with J.P. Morgan Securities Inc. acting as
sole book-running manager. A copy of the prospectus for the offering may be
obtained on the SEC website at www.sec.gov. Alternatively, the underwriter
will arrange to send you the prospectus if you request it by contacting J.P.
Morgan Securities Inc. at 270 Park Avenue, 8th Floor, New York, New York
10017, attention Syndicate Desk.
This press release does not constitute an offer to sell or a solicitation
of an offer to buy Denbury Senior Subordinated Notes. Such an offer can only
be made by delivery of a prospectus that has been filed with the Securities
and Exchange Commission.
Denbury Resources Inc. (www.denbury.com) is a growing independent oil and
gas company. The Company is the largest oil and natural gas operator in
Mississippi, owns the largest reserves of CO2 used for tertiary oil recovery
east of the Mississippi River, and holds key operating acreage in the onshore
Louisiana and Texas Barnett Shale areas. The Company increases the value of
acquired properties in its core areas through a combination of exploitation
drilling and proven engineering extraction practices.
For further information:
For further information: Denbury Resources Inc. Gareth Roberts,
President and CEO, 972-673-2000 or Phil Rykhoek, Chief Financial Officer,