Type Public company Number of employees 470 (2015) Revenue 878 million USD (2015) Total equity 2.896 billion USD (2015) | Industry Petroleum industry Founded 1979 Total assets 4.614 billion USD (2015) | |
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Traded as NYSE: EGN
S&P 400 Component Key people James T. McManus II, CEO
Charles W. Porter, Jr., CFO Products Petroleum
Natural Gas
Natural Gas Liquids Production output 24 thousand barrels of oil equivalent (150,000 GJ) per day Stock price EGN (NYSE) US$ 50.39 -0.82 (-1.60%)10 Mar, 11:06 AM GMT-5 - Disclaimer Headquarters Birmingham, Alabama, United States | ||
2012 energen corp
Energen Corporation is an oil and gas exploration and production company headquartered in Birmingham, Alabama.
Contents
Energen corporation celebrates 55th anniversary of listing rings the nyse closing bell
Current operations
As of December 31, 2015, the company had 355 million barrels of oil equivalent (2.17×109 GJ) of estimated proved reserves, of which 61% was oil and 39% was natural gas and natural gas liquids. Of these reserves, 95% were located in the Permian Basin and 5% were located in the San Juan Basin in northern New Mexico.
Of the company's 2015 production of 24 thousand barrels of oil equivalent (150,000 GJ) per day, 21 thousand barrels of oil equivalent (130,000 GJ) per day was in the Permian Basin and 3 thousand barrels of oil equivalent (18,000 GJ) per day was in the San Juan Basin in northern New Mexico.
The company's properties in the San Juan Basin are classified as being held for sale.
In 2015, an affiliate of Plains All American Pipeline accounted for 33% of the company's revenue.
History
The company was originally called Alabama Gas Corporation and was spun off from Southern Natural Gas (later, Sonat Inc.) in 1953 as part of an antitrust agreement.
In 1985, the company was renamed as Energen Corporation. Its subsidiaries included its natural gas utility division, Alagasco (Alabama Gas Corporation), which was sold in 2014, and its oil and gas exploration division, Taurus Exploration (now Energen Resources), which is the main asset of the company.
Acquisitions and dispositions
In 2002, a subsidiary of the company acquired properties in the Permian Basin for $120 million in cash and $70 million in stock.
In 2003, a subsidiary of the company acquired 93 billion cubic feet of gas equivalent of proved reserves in the San Juan Basin of New Mexico and southern Colorado for $39 million.
In 2004, a subsidiary of the company acquired San Juan Basin coalbed methane properties from a private company for $273 million.
In 2014, the company sold its natural gas utility business, Alabama Gas Corporation (Alagasco), to Laclede Group for $1.35 billion in cash and the assumption of $250 million in debt.
In 2015, the company sold the majority of its assets in the San Juan Basin for $395 million.