Profile: Energen Corp (EGN.N)
Energen Corporation is an oil- and natural gas liquids-focused exploration and production company. The Company has operations in the Permian and San Juan basins.
The Company’s two principal subsidiaries are Energen Resources Corporation and Alabama Gas Corporation (Alagasco). The Company is engaged in two business segments: the development, exploration and production of oil and gas in the continental United States (oil and gas operations) and the purchase, distribution and sale of natural gas in central and north Alabama (natural gas distribution). The areas of operations include the Permian Basin, the San Juan Basin and North Louisiana/East Texas.
Oil and Gas Operations
The Company’s oil and gas operations focus on increasing production and adding proved reserves through the development of oil and gas properties. In addition, it explores for and develops new reservoirs, primarily in areas in which it has an operating presence. All oil, gas and natural gas liquids production is sold to third parties. It also provides operating services in the Permian and San Juan basins for its joint interest and third parties. As of December 31, 2013, the Company’s proved oil and gas reserves totaled 347.8 million barrels of oil equivalent.
Natural Gas Distribution
Alabama Gas Corporation (Alagasco) is the Company’s utility subsidiary. Alagasco is a natural gas distribution utility in the state of Alabama. Alagasco purchases natural gas through interstate and intrastate suppliers and distributes the purchased gas through its distribution facilities for sale to residential, commercial and industrial customers and other end-users of natural gas. Alagasco also provides transportation services to large industrial and commercial customers located on its distribution system. These transportation customers, using Alagasco as their agent or acting on their own, purchase gas directly from marketers or suppliers and arrange for delivery of the gas into the Alagasco distribution system. Alagasco charges a fee to transport such customer-owned gas through its distribution system to the customers’ facilities. As of December 31, 2013, Alagasco served an average of 391,093 residential customers and 31,174 commercial, industrial and transportation customers.
The Alagasco distribution system includes approximately 11,229 miles of main and more than 12,015 miles of service lines, odorization and regulation facilities, and customer meters. The Alagasco’s distribution system is connected to two interstate natural gas pipeline systems, Southern Natural Gas Company (Southern) and Transcontinental Gas Pipe Line Company (Transco). It is also connected to two intrastate natural gas pipeline systems and to Alagasco’s two liquefied natural gas (LNG) facilities. Alagasco purchases natural gas from various natural gas producers and marketers.
605 Richard Arrington Jr.
BIRMINGHAM AL 35203-2707