Energen Corporation, through its subsidiaries, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the continental United States. The company also engages in the purchase, distribution, and sale of natural gas in central and north Alabama. Its two principal subsidiaries are Energen Resources Corporation (Energen Resources) and Alabama Gas Corporation (Alagasco). Oil and Gas Operations The company’s oil and gas operations focus on increasing production and adding proved reserves through the acquisition and development of oil and gas properties. In addition, Energen Resources 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. Energen Resources also provides operating services in the Permian, San Juan and Black Warrior basins for its joint interest and third parties. These services include overall project management and day-to-day decision-making relative to project operations. As of December 31, 2012, Energen Resources' proved oil and gas reserves totaled 346.4 million barrels of oil equivalent. These reserves are located in the Permian Basin in west Texas, the San Juan Basin in New Mexico and Colorado, and the Black Warrior Basin in Alabama. In 2012, the company drilled 434 gross development, exploratory, and service wells (including 3 sidetrack wells); performed some 116 well recompletions and pay-adds; and conducted other operational improvements. As of December 31, 2012, the company was participating in drilling 8 gross development and 4 gross exploratory wells, with the company's interest equivalent to 6.9 wells and 3.3 wells, respectively. In addition to the development wells drilled, the company drilled 47.8 net service wells during 2012. Natural Gas Distribution 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 major 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's service territory is located in central and parts of north Alabama, and includes 186 cities and communities in 28 counties. During 2012, Alagasco served an average of 393,467 residential customers and 31,450 commercial, industrial, and transportation customers. The Alagasco distribution system includes approximately 11,298 miles of main and approximately 11,899 miles of service lines, odorization and regulation facilities, and customer meters. Alagasco's distribution system is connected to two major interstate natural gas pipeline systems, Southern Natural Gas Company and Transcontinental Gas Pipe Line Company. It is also connected to two intrastate natural gas pipeline systems and to Alagasco's two liquified natural gas facilities. Growth Strategy The company operates under a strategy to improve the oil and gas operations of Energen Resources largely through the acquisition and exploitation of proved and high-quality unproved reserves. Regulation As an Alabama utility, Alagasco is subject to regulation by the Alabama Public Service Commission, which established the Rate Stabilization and Equalization rate-setting process. Environmental Matters The existing laws and regulations include the Clean Air Act; the Clean Water Act; Oil Pollution Prevention: Spill Prevention, Control, and Countermeasure regulations; Toxic Substances Control Act; Resource Conservation and Recovery Act; and the Federal Endangered Species Act. Compliance with these and other environmental laws and regulations is undertaken as part of the company’s routine operations. History Energen Corporation was founded in 1929.
energen corp (EGN:New York)
605 Richard Arrington Jr. Boulevard North
Birmingham, AL 35203
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