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Energen Touts Permian Progress in 2013; Goes In-Depth on 2014 Spending
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Energen Corp. has reported its results for Q4 and the full year of 2013. Additionally, the company has revealed more details on its 2014 capital budget.
2013 Earnings SummaryFor the 12 months ended December 31, 2013, Energen reported consolidated net income of $204.6 million, or $2.82 per diluted share. After adjusting for non-cash and/or non-recurring items and for discontinued operations, Energen’s adjusted income from continuing operations in 2013 totaled $216.9 million, or $2.99 per diluted share. In 2012, the comparable adjusted income from continuing operations totaled $218.0 million, or $3.01 per diluted share.
Non-cash and/or non-recurring items in 2013 included non-cash mark-to-market revenue losses, a gain on the sale of the company’s Black Warrior Basin assets partially offset…
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