Denbury Inc. announced three new lease agreements with large private landowners in Louisiana, securing additional exclusive rights to develop significant carbon dioxide (CO2) sequestration projects in high quality, high-capacity reservoirs underlying deep sealing formations along the state's industrial corridor. Two of the agreements cover a contiguous area of approximately 84,000 acres located approximately thirty miles southeast of New Orleans, Louisiana. Denbury estimates this site will provide more than 500 million metric tons of potential CO2 sequestration capacity.

The Company plans to initially connect emissions from nearby industrial facilities to this site, with future plans for a pipeline connection to the Company's Green Pipeline in Donaldsonville, Louisiana. The planned pipeline route is within 10 miles of multiple industrial sources that collectively emit over 20 million metric tons of CO2 annually. The Company believes that this site will provide an economic, large-scale solution for the transportation and permanent sequestration of captured industrial emissions along the Louisiana industrial corridor between Donaldsonville and lower Plaquemines Parish.

Denbury also executed a new pore space agreement adjacent to the acreage leased under the Company's recently announced agreement near Donaldsonville, Louisiana. This new agreement expands the potential volume of CO2 that the Company estimates can be sequestered at the combined site to more than 220 million metric tons, approximately a 50% expansion to the original site. The combined 11,000-acre site is located less than 10 miles from the Company's existing CO2 pipeline infrastructure, and there are approximately 30 million metric tons of CO2 currently emitted annually within a 20-mile radius of the site.