Denbury Terminates Its Previously Announced Notes Exchange Offers
January 20 2016 - 6:00PM
Denbury Resources Inc. (NYSE:DNR) (“Denbury” or the “Company”)
today announced it has terminated its previously announced private
offers (the “Exchange Offers”) to eligible holders of its
outstanding 6⅜% Senior Subordinated Notes due 2021, 5½% Senior
Subordinated Notes due 2022, and 4⅝% Senior Subordinated Notes due
2023 (collectively, the “Old Notes”) to exchange a portion of their
Old Notes for newly issued 7½% Senior Notes due May 15, 2022.
The Exchange Offers were set to expire at 11:59
p.m., New York City time, on January 20, 2016 (the “Expiration
Time”). Prior to the Expiration Time, the Company elected to
terminate the Exchange Offers pursuant to the terms and conditions
set forth in the Company’s offering memorandum dated December 21,
2015, as amended by the supplement dated January 12, 2016. As
a result of the termination of the Exchange Offers, no Old Notes
will be accepted for exchange, and all Old Notes tendered and not
previously withdrawn pursuant to the Exchange Offers will be
promptly returned to their respective holders.
Eligible holders of the Old Notes may contact
the Information and Exchange Agent, Global Bondholder Services
Corporation, at (866) 470-4500 (U.S. Toll-free) or (212) 430-3774
(Collect), with any questions regarding the termination of the
Exchange Offers.
Denbury is an independent oil and natural gas
company with operations focused in two key operating areas: the
Gulf Coast and Rocky Mountain regions. The Company’s goal is
to increase the value of its properties through a combination of
exploitation, drilling and proven engineering extraction practices,
with the most significant emphasis relating to CO2 enhanced oil
recovery operations.
DENBURY CONTACTS:
Mark C. Allen, Senior Vice President and Chief Financial Officer, 972.673.2000
Ross M. Campbell, Manager of Investor Relations, 972.673.2825
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