ENERGEN CORP
			Symbol			EGN

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Energen Increases 2010 Hedge Position to 65%

2009-11-23 10:15 ET - News Release

Adds to 2011 Oil Hedge Position

BIRMINGHAM, Ala. -- (Business Wire)

Energen Corporation (NYSE: EGN) announced today that it now has 65 percent of its 2010 estimated production of 114 billion cubic feet equivalent hedged. The company’s oil and gas exploration and production subsidiary, Energen Resources Corporation, last week hedged an additional 564,000 barrels of its 2010 oil production at a NYMEX price of $82.25 per barrel and initiated hedging of its natural gas liquids production by selling swaps for 37.9 million gallons at an average price of $0.88 per gallon.

Energen Resources also hedged an additional 462,000 barrels of its 2011 oil production at a NYMEX price of $85.80 per barrel.

2010 Hedge Position Summary

Energen Resources' hedge position for 2010 is as follows:

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