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Energen Sheds Black Warrior Basin CBM Assets

Not Disclosed Energen Corp.
AnnouncedAug 29, 2013
TypeProperty
Announced Date
August 29,2013
Effective Date
July 01,2013
Close Date
October 09,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
160




Snapshot
Asset/Basin:
{"Black Warrior Basin"}
Proved Reserves
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Location
Country
United States

State
Alabama

Production & Reserves
Production
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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Transaction Details:  Subscribe to see

Closing Announcement - October 9, 2013

Energen Corporation has closed on the previously announced sale of its Black Warrior Basin assets for $160 million plus standard closing adjustments.

The undisclosed buyer (a limited liability corporation) also assumed Energen’s third-party operating agreements.

In the fourth quarter of 2013, Energen will reflect a non-cash gain on the transaction of approximately $33 million. Energen plans to use net proceeds of approximately $150 million to reduce short-term indebtedness.

Initial Announcement - August 29, 2013

Energen Corporation has signed a…


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United States Deal Activity In Last 12 Months


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Price History


Date Deal Headline Price$/acre
Jan-03-2012 Sinopec Partners With Devon Energy On Multiple Unconventional Plays -   1,833
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Jan-06-2010 Endeavour International Acquires Diverse Acreage -   164