Energen
Defunct company engaged in hydrocarbon exploration
title: "Energen" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["1979-establishments-in-alabama", "2018-mergers-and-acquisitions", "defunct-oil-companies-of-the-united-states", "energy-companies-established-in-1979", "energy-companies-disestablished-in-2018", "non-renewable-resource-companies-established-in-1979", "companies-based-in-birmingham,-alabama"] description: "Defunct company engaged in hydrocarbon exploration" topic_path: "geography/united-states" source: "https://en.wikipedia.org/wiki/Energen" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0
::summary Defunct company engaged in hydrocarbon exploration ::
::data[format=table title="Infobox company"]
| Field | Value |
|---|---|
| name | Energen Corporation |
| logo | Energen Logo.gif |
| fate | Acquired by Diamondback Energy |
| foundation | |
| defunct | |
| hq_location | Birmingham, Alabama, United States |
| key_people | James T. McManus II, CEO |
| Charles W. Porter, Jr., CFO | |
| industry | Petroleum industry |
| products | Petroleum |
| Natural gas | |
| Natural gas liquids | |
| production | 24 e3BOE/d |
| revenue | $878 million (2015) |
| operating_income | -$945 million (2015) |
| net_income | -$945 million (2015) |
| assets | $4.614 billion (2015) |
| equity | $2.896 billion (2015) |
| num_employees | 470 (2015) |
| footnotes | |
| :: |
| name = Energen Corporation | logo = Energen Logo.gif | fate = Acquired by Diamondback Energy | caption = | foundation = | defunct = | hq_location = Birmingham, Alabama, United States | key_people = James T. McManus II, CEO Charles W. Porter, Jr., CFO | industry = Petroleum industry | products = Petroleum Natural gas Natural gas liquids | production = 24 e3BOE/d | revenue = $878 million (2015) | operating_income = -$945 million (2015) | net_income = -$945 million (2015) | assets = $4.614 billion (2015) | equity = $2.896 billion (2015) | num_employees = 470 (2015) | footnotes =
Energen Corporation was a company engaged in hydrocarbon exploration. In 2018, the company was acquired by Diamondback Energy.
, the company had 444 e6BOE of proved reserves, of which 58% was petroleum, 22% was natural gas, and 20% was and natural gas liquids and all of which were in the Permian Basin.
History
The company, originally called Alabama Gas Corporation, was spun off from Southern Natural Gas (later, Sonat Inc.) in 1953 as part of an antitrust agreement.
In 1985, the company was renamed 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 (later Energen Resources).
In 2002, Energen Resources acquired properties in the Permian Basin for $120 million in cash and $70 million in stock.
In 2003, Energen Resources 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, Energen Resources acquired San Juan Basin coalbed methane properties from a private company for $273 million.
In 2009, the company acquired assets in the Permian Basin from Range Resources for $182 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.
In 2018, the company was acquired by Diamondback Energy.
References
References
- "Energen Corporation 2017 Form 10-K Annual Report". [[U.S. Securities and Exchange Commission]].
- (January 2026). "Energen Resources to Acquire Permian Basin Properties for Cash, Equity". [[PR Newswire]].
- (April 1, 2003). "Energen Unit Completes Acquisition of San Juan Properties". [[American City Business Journals]].
- (March 7, 2002). "Energen Unit to Acquire San Juan Properties for $273 MM". [[Securities and Exchange Commission]].
- (June 30, 2009). "Energen Completes Acquisition of Permian Property". [[Business Wire]].
- (September 2, 2014). "The Laclede Group Acquires Alabama Gas Corporation". [[PR Newswire]].
- (February 12, 2015). "Energen Targets Capital Investment in CY15 of $1.0 Billion". [[Business Wire]].
- (November 29, 2018). "Diamondback Energy, Inc. Completes Acquisition of Energen Corporation". [[Globe Newswire]].
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