Energen Announces First Quarter Results

Energen Corporation EGN reported today that earnings in the first quarter of 2011 totaled $94.3 million, or $1.30 per diluted share. As expected, earnings declined from $116.7 million, or $1.62 per diluted share, in the same period last year primarily due to lower realized natural gas prices. The energy company also announced that the estimated probable and possible reserves of its exploration and production unit, Energen Resources Corporation, increased 24 percent to a record 388 million barrels of oil equivalents (MMBOE), or 2.3 trillion cubic feet equivalent (Tcfe).