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Subsequent Events
12 Months Ended
Dec. 31, 2011
Subsequent Events [Abstract]  
Subsequent Events

Note 14. Subsequent Events

Equity Award Grant

In January 2012, we granted equity incentive awards to our employees under the 2004 Plan. The grant included 1,358,970 shares of restricted stock valued at $17.27 per share (the closing price of Denbury's common stock on January 6, 2012) and 775,663 SARs with an exercise price of $17.27 and a weighted average grant date fair value ranging between $9.03 and $9.15 per unit. The awards generally vest 25% per year over a four-year period.

Agreement to Sell Non-Core Gulf Coast Assets

On January 12, 2012, the Company entered into a definitive agreement with a privately held entity in which a member of our Board of Directors serves as Chairman of the Board, to sell certain non-core assets primarily located in central and southern Mississippi and in southern Louisiana for $155 million, subject to customary closing adjustments in a sale for which there was a competing bid contained in a multi-property purchase proposal.  The sale is expected to close by late February 2012, subject to customary closing conditions, and would have an effective date of December 1, 2011.

Vanguard Common Units Sale

In January 2012, the Company sold its investment in Vanguard for cash consideration of $83.5 million, net of related transaction fees. In connection with the sale, the Company realized a pre-tax loss on the sale of $3.1 million, after consideration of “other-than-temporary” impairment charges recognized for the year ended December 31, 2011.