UPDATE: Denbury Posts Lower Q4 Earnings

Denbury Resources DNR reported a 22% drop in its fourth-quarter earnings. Denbury's quarterly earnings declined to $90 million, or $0.25 per share, versus $114.7 million, or $0.30 per share, in the year-ago period. Excluding special items, its adjusted earnings came in at $0.27 per share. Its total revenue slipped 1.7% to $599.1 million. However, analysts were estimating earnings of $0.31 per share on revenue of $617 million. Denbury shares fell 2.72% to $15.75 in pre-market trading.