PRESS RELEASE
                                                Contact: Ross A. Benavides
                                                         Chief Financial Officer
                                                         (713) 860-2528


      GENESIS ENERGY, L.P. COMMENCES CO2 WHOLESALE MARKETING BUSINESS WITH
 PURCHASE OF CO2 ASSETS FROM DENBURY WITH PROCEEDS FROM SALE OF ITS TEXAS GULF
                                COAST OPERATIONS

         October 15, 2003 - Genesis Energy, L.P. (AMEX:GEL) announced today that
it has entered into a non-binding letter of intent to acquire an interest in
167.5 Bcf of CO2 under a volumetric production payment, plus certain marketing
rights, from Denbury Resources, Inc. (Denbury) for $24.9 million, enabling
Genesis to commence a wholesale CO2 marketing business. Genesis believes that it
has reached an agreement in principle on all of the substantial terms of the
transaction. Simultaneously with this CO2 transaction, Denbury will purchase
$4.9 million of Genesis common units. The transaction is expected to close
during the fourth quarter. A Denbury subsidiary is the general partner of
Genesis.

         Genesis also announced today that it has signed a purchase and sale
agreement with Teppco Crude Pipeline, L.P. (Teppco) to sell parts of its Texas
crude oil pipeline system and associated gathering and marketing operations (the
Texas Gulf Coast Operation) to Teppco for approximately $21 million. The
transaction is also expected to close in the fourth quarter.

         Mark J. Gorman, President and CEO of Genesis said, "We are extremely
pleased to announce these transactions. The sale of the Texas Gulf Coast
Operation to Teppco will benefit both parties immediately. Teppco expects to
realize significant benefits from integrating these assets into their South
Texas Pipeline System. We expect to benefit from redeploying the proceeds of
this sale to acquire the CO2 assets from Denbury, advancing our plan to develop
strategic opportunities with Denbury that will create high quality, stable
sources of cash flow for our Unitholders."

         Genesis is purchasing the CO2 assets from Denbury for $24.9 million in
cash. Denbury will assign to Genesis an interest in 167.5 Bcf. of CO2 under a
volumetric production payment and Denbury's existing long-term CO2 supply
agreements with three of its industrial customers. The terms of the industrial
sales contracts include minimum take-or pay volumes and maximum delivery
volumes. Denbury will also provide processing and transportation services for a
fee. The transaction is subject to approvals required from Denbury's lenders
under their credit agreements and other normal closing conditions. For the next
five years, based upon current conditions, Genesis projects that approximately
$5 million per year in operating income will be generated from this CO2
acquisition.

         Genesis is selling the Texas Gulf Coast Operation to Teppco for $21
million. The Texas Gulf Coast Operation being sold is comprised of three
segments of the Texas Pipeline System and related gathering and marketing
operations in a 40 county area in southeast Texas. The three segments sold
represent approximately 20 percent of the pipeline mileage of Genesis' Texas
pipeline system.

            In its previous guidance in August 2003, Genesis indicated that it
expected to make regular quarterly distributions of $0.05 per unit for 2003 and
2004 and did not expect to restore its regular quarterly distribution to $0.20
per unit until 2005. As a result of these transactions, Genesis currently
expects to be able to sustain a regular quarterly distribution of $0.15 per unit
starting with the distribution that will be paid for the fourth quarter of 2003
in February of 2004. Genesis continues to expect to restore the targeted minimum
quarterly distribution of $0.20 per unit in 2005. However, as we gain experience
with the new asset base, as cost savings initiatives are implemented, and as
opportunities to make accretive acquisitions are developed, Genesis may be able
to restore the targeted minimum quarterly distribution of $0.20 per unit during
2004.

         For important information about the tax impact to unitholders of the
sale of the Texas Operation to Teppco, please visit our website at
www.genesiscrudeoil.com or call Investor Relations at (713) 860-2500. Assuming
these transactions close as scheduled, Genesis expects to provide more
information about these transactions at its scheduled third quarter earnings
conference call on November 11, 2003.

         Genesis Energy, L.P. operations include crude oil common carrier
pipelines, independent gathering and marketing of crude oil, with operations
concentrated in Texas, Louisiana, Alabama, Florida, and Mississippi.

         This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Although Genesis believes that its expectations
are based upon reasonable assumptions, it can give no assurance that its goals
will be achieved. Important factors that could cause actual results to differ
materially from those in the forward looking statements herein include the
timing and extent of changes in commodity prices for oil, ability to obtain
adequate credit facilities, environmental risks, government regulation, the
ability of the Partnership to meet its stated business goals and other risks
noted from time to time in the Partnership's Securities and Exchange Commission
filings.



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