$EGN (Energen Corp.)

$EGN {{ '2016-05-06T16:09:16+0000' | timeago}} • Webcast

$EGN said that the company has continued to increase its 2016 oil hedge position. In Nov. 2015, the company filed a case in the District Court of Howard County to determine the status of lease title for the leasing of approximately 10,000 acres. $EGN said that in last week, the trial judge ruled that the company's lease is valid.

$EGN {{ '2017-07-21T16:04:01+0000' | timeago}} • Announcement

$EGN appointed Lori Lancaster to its BoD effective July 21, 2017. Lancaster is a former Managing Director of the Global Energy Group at $UBS Securities and the Global Natural Resources groups at Nomura Securities International and $GS. She fills the vacancy created in May 2017 by the retirement of Michael Goodrich.

$EGN {{ '2017-06-19T21:04:02+0000' | timeago}} • Announcement

$EGN raised its total 2017 production estimate to 70.2 mboepd, or 5.9% higher than prior guidance, on the continued strength of results from wells completed. This brings the company’s YoY production growth to an estimated 29%. Energen’s 2017 drilling and development capex guidance remains unchanged at $850-900MM.

$EGN {{ '2017-05-05T10:49:11+0000' | timeago}} • Announcement

$EGN expects 2017 production of 66.3 mboepd that reflects a 1% increase over prior guidance as a result of 1Q17 actual results. Production guidance for the remainder of the year is unchanged and reflects estimated production with Generation 2 fracs. Oil is expected to comprise 65% of total production mix in 2017.

$EGN {{ '2017-05-05T10:46:49+0000' | timeago}} • Announcement

$EGN's production for 1Q17 totaled 52.8 thousand barrels of oil equivalents per day (mboepd) and exceeded guidance of 50.2 mboepd by 5.2% mainly due to the impact of new wells completed with Generation 3 fracs. Total oil production was up 6% over guidance largely due to stronger-than-expected oil volumes in the Delaware Basin.

$EGN {{ '2017-02-10T17:29:30+0000' | timeago}} • Webcast

For 2017, $EGN said that the first quarter production will be slightly down, off from the fourth quarter. The company added that lot of its production will come from its second, third and fourth quarters.

$EGN {{ '2017-02-10T16:56:10+0000' | timeago}} • Webcast

For 2017, $EGN expects to implement 6-7 rig drilling programs, drilling 50 net horizontal wells in the Permian Basin. The company reaffirmed production of 65.7mboe per day and plans to grow the production to 100mboe per day in 2019.

$EGN {{ '2017-02-10T15:15:39+0000' | timeago}} • Announcement

$EGN expects most of its per-unit expenses to generally decline in 2017 as production increases. Per unit lease operating expenses are expected to be essentially flat, however, largely due to increased water handling as activity levels increase significantly in the Delaware Basin and as additional zones are completed in the northern Midland Basin.

$EGN {{ '2017-02-10T15:13:48+0000' | timeago}} • Announcement

$EGN's BoD approved a 2017 capital budget (excluding lease renewals and acquisitions) of $790MM. About 84% of the capital is for drilling and completion activities, with about 14% for saltwater disposal wells and other facilities and 2% for non-operated and other activities.

$EGN {{ '2017-02-10T15:12:16+0000' | timeago}} • Announcement

$EGN reported a narrower 4Q16 loss driven by lower non-cash mark-to-market losses and a decline in asset impairments charges. Net loss narrowed to $54.47MM or $0.56 per share from $590.81MM or $7.50 per share last year. Revenue plunged to $532.9MM from $878.6MM. Adjusted loss per share was $0.27 compared to EPS of $0.36 a year ago.

$EGN {{ '2016-08-09T18:42:28+0000' | timeago}} • Webcast

Chris Dendrinos, KLR Group asks about the difference in costs at today's dollars between the Gen 1, 2 or 3. $EGN said that Gen 2 is baked into everything that the company has got. In the Midland Basin, Gen 3, if no savings is picked up elsewhere, Gen 3 is going to cost a little bit more.

$EGN {{ '2016-08-09T18:36:57+0000' | timeago}} • Webcast

Dan Guffey with Stifel asks about the company's rig contract or service contract structures heading into 2017. $EGN said they're all short-term right now. They're kind of well-by-well and the company doesn't have any long-term rig contracts.

$EGN {{ '2016-08-09T18:26:14+0000' | timeago}} • Webcast

Carlos Newall from Raymond James asks about what kind of EUR uplift the company is looking for to justify Generation 3 frac design in the Midland Basin. $EGN said it has got some targets inside the company. A lot of that depends on the economics. One will have to see another 10% or 15% uplift at a minimum to justify going there.

$EGN {{ '2016-08-09T18:18:52+0000' | timeago}} • Webcast

Irene Haas with Wunderlich Securities asks about Delaware Basin and how many wells in total the company has drilled now, excluding the 2016. $EGN said the one the company drilled in 22 days was part of the 4 drilled the whole wells that $EGN was drilling in 2016. The company had continued drilling improvement and expects it to continue.

$EGN {{ '2016-08-09T18:11:56+0000' | timeago}} • Webcast

$EGN said that for FY17, the company targets projects that offer long laterals in combination with high working interests. At a minimum the company will require a pre-tax internal rate of return of 25-30% on wells drilled. $EGN is also targeting a net debt to EBITDAX from drilling and completion activities near 1.0.

$EGN {{ '2016-08-09T18:03:16+0000' | timeago}} • Webcast

$EGN said its full year production guidance increased 2% to 54 MBOE per day. The company continued to increase its 2017 oil hedge position in 2Q16 by adding 3-way Collars for 1.1MM barrels of oil production at an avg. call price of $65.67 per barrel, avg. put price of $45 per barrel and avg. short put price of $35 per barrel.

$EGN {{ '2016-08-09T17:52:32+0000' | timeago}} • Webcast

$EGN said capital efficiency improvements continued in 2Q16 with D&C costs improving. The company also achieved attractive drilling times in its two basins; Delaware and Midland. On Bolt-on acquisitions, the company acquired 4,500 net acres YTD in its core positions in the Delaware, Midland basins.

$EGN {{ '2016-08-09T17:49:20+0000' | timeago}} • Webcast

$EGN said the the company had strong production growth in 2Q16 and saw good response to its Generation 2 frac designs. The company continues to see broad based efficiency gains and completion optimization continues to evolve. $EGN added that DUC completions in 2017 are expected to use more sand fluid, tighter frac stages and clusters.

$EGN {{ '2016-08-08T21:48:14+0000' | timeago}} • Announcement

$EGN's production in 2Q16 totaled 56.0 thousand barrels of oil equivalents per day (mboepd) and exceeded the production guidance midpoint of 53.9 mboepd by 3.9%. Oil production was up almost 5% relative to the guidance midpoint. The production increase was driven primarily by outperformance of Midland Basin horizontal plays.

$EGN {{ '2016-08-08T21:46:16+0000' | timeago}} • Announcement

$EGN's adjusted 2Q16 loss was substantially better than internal expectations on significantly lower-than-expected lease operating, marketing and transportation expenses (LOE) and better-than-expected production. LOE was $7.29 per boe and benefited largely from lower costs for water disposal, gathering, and electrical power, and fewer workovers.

$EGN {{ '2016-08-08T21:42:54+0000' | timeago}} • Announcement

Oil and natural gas explorer and producer $EGN reported 2Q16 earnings of $36.76MM or $0.38 per share compared to a loss of $111.6MM or $1.52 per share last year, on lower costs and expenses. Total revenues dropped to $105.77MM from $168.33MM. Adjusted loss per share was $0.28 compared to EPS of $0.16 a year ago.

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