-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BkFD5TZcUsCgx++aigefYnlK1ZYG1Ee32R455MGqnL5TjiLGtYLXzMTwgjk3vkRQ AyuImkwHe3xVusrfKV3zCw== 0000277595-98-000013.txt : 19981102 0000277595-98-000013.hdr.sgml : 19981102 ACCESSION NUMBER: 0000277595-98-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981030 ITEM INFORMATION: FILED AS OF DATE: 19981030 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENERGEN CORP CENTRAL INDEX KEY: 0000277595 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 630757759 STATE OF INCORPORATION: AL FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07810 FILM NUMBER: 98733834 BUSINESS ADDRESS: STREET 1: 2101 SIXTH AVE N CITY: BIRMINGHAM STATE: AL ZIP: 35203 BUSINESS PHONE: 2053262742 MAIL ADDRESS: STREET 1: 2101 SIXTH AVE N CITY: BIRNINGHAM STATE: AL ZIP: 35203 FORMER COMPANY: FORMER CONFORMED NAME: ALAGASCO INC DATE OF NAME CHANGE: 19851002 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report October 15, 1998 Energen Corporation (Exact name of registrant as specified in its charter) Alabama (State or other jurisdiction of incorporation) 1-7810 63-0757759 (Commission File No.) (IRS Employer Identification No.) 2101 Sixth Avenue North Birmingham, Alabama 35203 (Address of principal (Zip Code) executive offices) (205) 326-2700 (Registrant's telephone number including area code) Item 2. Acquisition or Disposition of Assets On October 15, 1998, Energen Resources Corporation (Energen Resources), the oil and gas exploration and production subsidiary of Energen Corporation (the Company), purchased the stock of TOTAL Minatome Corporation (TOTAL), a Houston- based unit of TOTAL American Holding Inc. Immediately upon closing the transaction, Energen Resources sold a 31 percent undivided interest in TOTAL's assets to Westport Oil and Gas Company Inc., a private Denver-based exploration, acquisition and development company. Energen Resources' net investment totaled $132.6 million, including the assumption of certain legal and financial obligations. Energen Resources will gain an estimated 200 billion cubic feet equivalent of proved domestic oil and natural gas reserves. Approximately half of the proved reserves are concentrated in north Louisiana. Other reserve locations include the San Juan Basin in New Mexico, the Permian Basin in West Texas, offshore Gulf of Mexico, southern Louisiana, and the Rockies. Approximately 75 percent of the reserves are natural gas, and approximately 60 percent are proved developed producing. Energen Resources plans to spend an estimated $70 million over the next several years to fully exploit the approximately 40 percent of behind pipe and proved undeveloped reserves. The Company used a portion of its existing short-term credit facilities to acquire the foregoing properties and expects to refinance a portion of this acquisition through the issuance of long-term debt and equity during the second half of fiscal year 1999. Item 7. Financial Statements and Exhibits (a)Financial Statements of Business Acquired It is impracticable to provide the consolidated financial information of the business acquired from TOTAL at the time of filing this report. The required financial statements will be filed as soon as practicable but not later than 60 days from October 30, 1998, the date on which this Form 8-K must be filed with the Securities and Exchange Commission (the Commission). (b)Pro Forma Financial Information It is impracticable to provide the required pro forma financial information at the time of the filing of this report. The required pro forma financial information will be filed as soon as practicable but not later than 60 days from October 30, 1998, the date on which this Form 8-K must be filed with the Commission. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ENERGEN CORPORATION DATE: October 30, 1998 By /s/ Grace B. Carr Grace B. Carr Controller of Energen Corporation -----END PRIVACY-ENHANCED MESSAGE-----