Energen
 | |
| Company type | Public company |
|---|---|
| NYSE: EGN S&P 400 Component | |
| Industry | Oil and gas |
| Founded | 1979 |
| Headquarters | Birmingham, Alabama |
Key people | James T. McManus II, CEO Charles W. Porter, Jr., CFO[1] |
| Products | Petroleum Natural gas Natural gas liquids |
Production output | 24 thousand barrels of oil equivalent per day (1,700 MW)[1] |
| Revenue |  US$878 million (2015)[1] |
| -US$945 million (2015)[1] | |
| -US$945 million (2015)[1] | |
| Total assets | US$4.614 billion (2015)[1] |
| Total equity | US$2.896 billion (2015)[1] |
Number of employees | 470 (2015)[1] |
| Website | http://www.energen.com/ |
Energen Corporation is an oil and gas exploration and production company headquartered in Birmingham, Alabama.
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.
In 2002, a subsidiary of the company acquired properties in the Permian Basin for $120 million in cash and $70 million in stock.[2]
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.[3]
In 2004, a subsidiary of the company acquired San Juan Basin coalbed methane properties from a private company for $273 million.[4]
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.[5]
In 2015, the company sold the majority of its assets in the San Juan Basin for $395 million.[6]
Operations
As of 31 December 2015[update], 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.[1]
Of the company's 2015 production of 24 thousand barrels of oil equivalent per day (1,700 MW), 21 thousand barrels of oil equivalent per day (1,500 MW) was in the Permian Basin and 3 thousand barrels of oil equivalent per day (210 MW) was in the San Juan Basin in northern New Mexico.[1]
The company's properties in the San Juan Basin are classified as being held for sale.[1]
In 2015, an affiliate of Plains All American Pipeline accounted for 33% of the company's revenue.[1]
External links
References
- ^ a b c d e f g h i j k l Energen Corporation 2015 Form 10-K Annual Report
- ^ "Energen Resources to Acquire Permian Basin Properties for Cash, Equity". PRNewswire. March 7, 2002.
- ^ "Energen Unit Completes Acquisition of San Juan Properties". April 1, 2003.
- ^ "Energen Unit to Acquire San Juan Properties for $273 MM". Securities and Exchange Commission. March 7, 2002.
- ^ "The Laclede Group Acquires Alabama Gas Corporation". PRNewswire. September 2, 2014.
- ^ "Energen Targets Capital Investment in CY15 of $1.0 Billion". Business Wire. February 12, 2015.
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- Oil companies of the United States
- Natural gas companies of the United States
- Companies based in Birmingham, Alabama
- Energy companies established in 1979
- Non-renewable resource companies established in 1979
- 1979 establishments in Alabama
- Companies listed on the New York Stock Exchange
- Petroleum company stubs