<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>5
<FILENAME>denbury200310kex21.txt
<DESCRIPTION>EXHIBIT 21
<TEXT>
                                                    EXHIBIT 21

<TABLE>
<CAPTION>
                                                LIST OF SUBSIDIARIES


                                          JURISDICTION OF
NAME OF SUBSIDIARY                         INCORPORATION                                     STATUS
------------------                        ---------------                                    ------

<S>                                          <C>                          <C>    <C>    <C>    <C>    <C>
Denbury Offshore, Inc.                       Delaware                     Wholly owned subsidiary of Denbury Resources
                                                                          Inc. - offshore oil and gas properties

Denbury Gathering & Marketing, Inc.          Delaware                     Wholly owned subsidiary of Denbury Resources
                                                                          Inc. - parent company of Genesis Energy, Inc.

Genesis Energy, Inc.                         Delaware                     Wholly owned subsidiary of Denbury Gathering
                                                                          & Marketing, Inc. - holds 9.25% general
                                                                          partner interest of Genesis Energy LP and
                                                                          .01% general partner interest of Genesis
                                                                          Crude Oil LP

Denbury Operating Company                    Delaware                     Wholly owned subsidiary of Denbury Resources
                                                                          Inc. - operating holding company of limited
                                                                          liability companies

Denbury Onshore, L.L.C.                      Delaware                     Wholly owned subsidiary of Denbury Operating
                                                                          Company - onshore oil and gas properties

Denbury Marine, L.L.C.                       Louisiana                    Wholly owned subsidiary of Denbury Operating
                                                                          Company - marine company

Tuscaloosa Royalty Fund L.L.C.               Delaware                     Wholly Owned Subsidiary of Denbury Operating
                                                                          Company
</TABLE>


</TEXT>
</DOCUMENT>