New York, January 22, 2013 -- Moody's Investors Service assigned a B1 rating to Denbury Resources Inc.'s (Denbury) proposed $1.0 billion senior subordinated notes due 2023. Denbury's Ba3 Corporate Family Rating, SGL-3 Speculative Grade Liquidity rating, and stable rating outlook remain unchanged. Proceeds from the notes offering will be used to fund tender offers on Denbury's existing two tranches of 2016 senior subordinated notes, with the remaining amount used to reduce outstandings under its revolving credit facility and general corporate purposes.

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