Denbury Resources -2.7% on Q4 earnings miss, lower production guidance

Denbury Resources (DNR) -2.7% premarket as Q4 earnings fell 22% and came in below analyst estimates, as lower oil prices and higher operating costs combined to lower bottom line results.

Q4 production rose ~2% Y/Y to nearly 71.5K boe/day, while DNR's average realized oil price, excluding derivative contracts, fell 4.7% to $93.

Says weather issues, a delay in its Greencore Pipeline project and planned shutdowns would cause 2014 production to be in lower half of its 76.5K-78.5K boe/day estimate.

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