This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Energen Earns $0.65 per Diluted Share in Third Quarter 2009 2009-10-28 12:19 ET - News Release Earnings Guidance: 2009 Range Increased to $3.45-$3.65/Diluted Share;
2010 Range Initiated at $4.00-$4.40/Diluted Share
BIRMINGHAM, Ala. -- (Business Wire)
Energen Corporation (NYSE: EGN) reported today that consolidated net
income in the third quarter of 2009 totaled $47.1 million, or $0.65 per
diluted share, as compared with $73.1 million, or $1.01 per diluted
share, in the third quarter of 2008. Included in current-year third
quarter results is a one-time gain of $3.1 million, or $0.04 per diluted
share, generated by the sale of a small, non-operated Permian Basin
property by Energen Resources Corporation, the company’s oil and gas
exploration and production subsidiary.
3Q09 vs 3Q08: Energen Resources’ substantial hedge position, 12
percent increase in production and 25 percent decrease in per-unit lease
operating expense (LOE) helped offset the negative impact of
significantly lower oil and gas prices, higher depreciation, depletion
and amortization (DD&A) expense and a greater net earnings loss at
Alagasco, the company’s natural gas utility.
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