Denbury Resources Inc. announced that it has commenced cash tender offers to purchase any and all of the outstanding: 9.75% senior subordinated notes due March 2016 of the company, and 9.5% senior subordinated notes due May 2016 of the company, as successor to Encore Acquisition Company. As of January 22, 2013, approximately $426.4 million of 9 ¾% Notes and approximately $224.9 million of 9 ½% notes were outstanding. In conjunction with the offers, and on the terms and subject to the conditions set in the offer documents, the company is soliciting, with respect to each series of notes, consents of holders of those notes to, among other things, eliminate most of the restrictive covenants and certain events of default
contained in the applicable indenture.