Past year: ▲ 28%(52.23 – 86.17 USD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Oct 2015material agreement▼ Bad
Effective October 20, 2015, Energen amended its credit agreement again, lowering the borrowing base and commitments from $1.6 billion to $1.4 billion. The deadline to issue certain senior notes without a borrowing base reduction was pushed to the April 2016 redetermination. This is the second cut after the April 2015 reduction from $2.1 billion; the filing gives no reason.
7 Aug 2015quarterly activities report▼ Bad
ENERGEN CORP reported a quarterly net loss of $227.9 million for the period ended 2015-09-30.
7 Aug 2015quarterly activities report▼ Bad
ENERGEN CORP reported a quarterly net loss of $227.9 million for the period ended 2015-09-30.
22 June 2015material agreement● NeutralMajor
Energen sold 5,700,000 new shares of common stock through Credit Suisse at $70 per share to the underwriter, closing June 22, 2015, for net proceeds of about $399.0 million. It plans to fund a slight increase in second-half 2015 drilling and a multi-year acceleration starting in 2016 with capital investment of $1 billion or more (subject to market conditions), and to repay credit facility borrowings in the meantime. The underwriter also has a 30-day option on up to 855,000 more shares. For existing shareholders this means more shares outstanding, which dilutes their percentage ownership.
19 June 2015securities registration● Neutral
ENERGEN CORP filed a prospectus supplement for an offering off its existing shelf.
17 June 2015securities registration● Neutral
ENERGEN CORP filed a prospectus supplement for an offering off its existing shelf.
8 May 2015quarterly activities report▼ Bad
ENERGEN CORP reported a quarterly net loss of $111.6 million for the period ended 2015-06-30.
7 May 2015quarterly activities report▼ Bad
ENERGEN CORP reported a quarterly net loss of $111.6 million for the period ended 2015-06-30.
6 May 2015securities registration● Neutral
ENERGEN CORP filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
1 May 2015agm notice● Neutral
ENERGEN CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
20 Apr 2015material agreement● Neutral
Effective April 16, 2015, Energen amended its credit agreement, cutting the borrowing base from $2.1 billion to $1.6 billion and the commitments from $2.0 billion to $1.6 billion, as part of the scheduled April redetermination. It also raised the amount of senior notes it can issue without a borrowing base cut from $300 million to $400 million and extended the deadline to around October 2015. Separately, a press release said Energen expects further Permian Basin well-cost savings of 15% to 25% over the last nine months of 2015, on top of 10% already in its roughly $1.0 billion 2015 capital budget. It said it would discuss any plan changes with its quarterly results on May 6.
6 Apr 2015asset acquisition disposition▲ GoodMajor
On March 31, 2015, Energen completed the sale of most of its San Juan Basin natural gas assets (New Mexico and Colorado) to Southland Royalty Company for $395 million. After about $11 million of adjustments it received roughly $384 million before about $2.8 million of costs, and used the proceeds to reduce long-term debt. The price can still be adjusted after closing. This follows the earlier Alabama Gas sale in moving Energen further toward Permian Basin focus (inference); the filing itself does not state a strategic reason.
20 Mar 2015agm notice● Neutral
ENERGEN CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
13 Feb 2015quarterly activities report▼ Bad
ENERGEN CORP reported a quarterly net loss of $15.4 million for the period ended 2015-03-31.
12 Feb 2015substantial holder notice● Neutral
Wellington Management Group LLP reported a ENERGEN CORP shareholding of 8,276,329 shares (11.31% of votes) in a periodic institutional filing.
11 Feb 2015substantial holder notice● Neutral
The Vanguard Group reported a ENERGEN CORP shareholding of 5,100,994 shares (6.96% of votes) in a periodic institutional filing.
29 Jan 2015substantial holder notice● Neutral
BlackRock, Inc reported a ENERGEN CORP shareholding of 4,978,588 shares (6.80% of votes) in a periodic institutional filing.
18 Nov 2014debt financing● Neutral
Energen used the expansion feature of its September 2014 Wells Fargo credit facility to raise total lending commitments by $500 million, from $1.5 billion to $2 billion. All other terms stay the same. This builds on the secured facility set up after the Alabama Gas sale; the filing gives no reason for the increase and no amount drawn.
7 Nov 2014quarterly activities report● Neutral
ENERGEN CORP reported a quarterly net income of $65.4 million for the period ended 2014-12-31.
31 Oct 2014quarterly activities report● Neutral
ENERGEN CORP reported a quarterly net income of $457.3 million for the period ended 2014-09-30.
5 Sept 2014asset acquisition disposition▲ GoodMajor
Energen reported completing the Alabama Gas sale to Laclede on September 2, 2014 for $1.6 billion less about $267 million of assumed debt (the April estimate was about $320 million), giving net pre-tax proceeds of about $1.317 billion. The price is still subject to working capital adjustments. Pro forma statements attached show proceeds used to repay $570 million of term loans and $669 million of revolver borrowings, with about $244 million to be drawn on the new facility to pay taxes from the sale.
2 Sept 2014debt financing● NeutralMajor
Energen closed the sale of Alabama Gas to Laclede (effective August 31, 2014) and, as a result, paid off its December 2013 term loan and its October 2012 revolving facility in full. It replaced them with a new secured $1.5 billion revolving credit facility (Wells Fargo as agent, $2.1 billion initial borrowing base, maturing August 30, 2019) secured by mortgages on its oil and gas properties. This completes the utility sale announced in April 2014 and moves its debt from unsecured to secured.
11 Aug 2014quarterly activities report● Neutral
ENERGEN CORP reported a quarterly net income of $457.3 million for the period ended 2014-09-30.
31 July 2014quarterly activities report▼ Bad
ENERGEN CORP reported a quarterly net loss of $8.0 million for the period ended 2014-06-30.
10 July 2014substantial holder notice● Neutral
Wellington Management Company, LLP disclosed a new substantial ENERGEN CORP shareholding (10.27% of votes).
9 May 2014quarterly activities report▼ Bad
ENERGEN CORP reported a quarterly net loss of $8.0 million for the period ended 2014-06-30.
1 May 2014quarterly activities report▼ Bad
ENERGEN CORP reported a quarterly net loss of $8.0 million for the period ended 2014-06-30.
25 Apr 2014agm notice● Neutral
ENERGEN CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
7 Apr 2014material agreement▲ GoodMajor
Energen agreed on April 5, 2014 to sell its gas utility Alabama Gas to The Laclede Group for $1.6 billion, which includes about $320 million of debt Laclede would assume. The press release states it would leave Energen as a pure exploration and production company, with cash proceeds planned to pay down short-term debt and possibly speed up Permian Basin drilling in 2015 and beyond. Closing needs Alabama Public Service Commission approval and antitrust waiting period expiry, and was expected in 2014.
25 Mar 2014agm notice● Neutral
ENERGEN CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
