First Midland Basin Wells with Gen 3 Completions Show Substantial, Early Production Uplift

BIRMINGHAM, Ala.--(BUSINESS WIRE)--For the 3 months ended December 31, 2016, Energen Corporation (NYSE: EGN) reported a GAAP net loss from all operations of $(54.5) million, or $(0.56) per diluted share. Excluding mark-to-market derivatives losses and a loss associated with prior-period property sales, Energen’s adjusted loss in 4Q16 totaled $(26.6) million, or $(0.27) per diluted share. This compares with adjusted income in 4Q15 of $28.4 million, or $0.36 per diluted share. [See “Non-GAAP Financial Measures” beginning on pp 12 for more information and reconciliation.]