Energen Adds 14.5 Bcf to 2009 Hedge Position

Energen Corporation announced that its oil and gas exploration and production subsidiary, Energen Resources Corporation, has hedged an additional 14.5 billion cubic feet of its 2009 natural gas production. This brings the company’s total 2009 hedge position to 52 percent of its estimated 2009 production of approximately 108 billion cubic feet (Bcf) equivalent.

Energen Resources recently sold contracts for an additional 3.7 Bcf of San Juan Basin-specific natural gas at an average NYMEX-equivalent price of $8.51 per thousand cubic feet (Mcf) and hedged another 10.8 Bcf of natural gas at an average NYMEX price of $8.55 per Mcf.