UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
April 25, 2012
Commission File Number |
Registrant |
State of Incorporation |
IRS Employer Identification Number | |||
1-7810 | Energen Corporation | Alabama | 63-0757759 | |||
2-38960 | Alabama Gas Corporation | Alabama | 63-0022000 |
605 Richard Arrington Jr. Boulevard North Birmingham, Alabama |
35203 | |||
(Address of principal executive offices) | (Zip Code) |
(205) 326-2700
(Registrants telephone number including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 2.02 | Results of Operations and Financial Condition |
On April 25, 2012, Energen Corporation and Alabama Gas Corporation issued a press release and supplemental financial information. The supplemental financial information has been revised to correct the 1st Quarter 2012 revenue per unit of production excluding the effects of all derivative instruments. The amended supplemental financial information is attached hereto as Exhibit 99.2.
ITEM 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
The following Exhibits are furnished as part of this Current Report on Form 8-K/A.
Exhibit |
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99.2 |
Amended Supplemental Financial Information |
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SIGNATURES
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 ALABAMA GAS CORPORATION | ||||
April 25, 2012 | By | /s/ Charles W. Porter, Jr. | ||
Charles W. Porter, Jr. Vice President, Chief Financial Officer and Treasurer of Energen Corporation and Alabama Gas Corporation |
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EXHIBIT INDEX
EXHIBIT |
DESCRIPTION | |
99.2 |
* Amended Supplemental Financial Information |
* | This exhibit is furnished to, but not filed with, the Commission by inclusion herein. |
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Exhibit 99.2
SELECTED BUSINESS SEGMENT DATA (UNAUDITED)
For the 3 months ending March 31, 2012 and 2011
1st Quarter | ||||||||||||
(in thousands, except sales price data) |
2012 | 2011 | Change | |||||||||
Oil and Gas Operations |
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Operating revenues |
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Natural gas |
$ | 75,580 | $ | 95,599 | $ | (20,019 | ) | |||||
Oil |
124,314 | 103,256 | 21,058 | |||||||||
Natural gas liquids |
23,712 | 17,533 | 6,179 | |||||||||
Other |
351 | 404 | (53 | ) | ||||||||
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|
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Total |
$ | 223,957 | $ | 216,792 | $ | 7,165 | ||||||
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Production volumes |
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Natural gas (MMcf) |
19,092 | 17,334 | 1,758 | |||||||||
Oil (MBbl) |
1,953 | 1,364 | 589 | |||||||||
Natural gas liquids (MMgal) |
26.0 | 19.7 | 6.3 | |||||||||
Total production volumes (MMcfe) |
34,530 | 28,338 | 6,192 | |||||||||
Total production volumes (MBOE) |
5,755 | 4,723 | 1,032 | |||||||||
Revenue per unit of production including effects of all derivative instruments |
||||||||||||
Natural gas (Mcf) |
$ | 3.96 | $ | 5.52 | $ | (1.56 | ) | |||||
Oil (barrel) |
$ | 63.65 | $ | 75.70 | $ | (12.05 | ) | |||||
Natural gas liquids (gallon) |
$ | 0.91 | $ | 0.89 | $ | 0.02 | ||||||
Revenue per unit of production including effects of qualifying cash flow hedges |
||||||||||||
Natural gas (Mcf) |
$ | 3.94 | $ | 5.52 | $ | (1.58 | ) | |||||
Oil (barrel) |
$ | 85.12 | $ | 75.70 | $ | 9.42 | ||||||
Natural gas liquids (gallon) |
$ | 0.87 | $ | 0.89 | $ | (0.02 | ) | |||||
Revenue per unit of production excluding effects of all derivative instruments* |
||||||||||||
Natural gas (Mcf) |
$ | 2.67 | $ | 4.01 | $ | (1.34 | ) | |||||
Oil (barrel) |
$ | 98.58 | $ | 88.67 | $ | 9.91 | ||||||
Natural gas liquids (gallon) |
$ | 0.95 | $ | 1.01 | $ | (0.06 | ) | |||||
Other data |
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Lease operating expense (LOE) |
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LOE and other |
$ | 56,612 | $ | 46,945 | $ | 9,667 | ||||||
Production taxes |
14,162 | 12,283 | 1,879 | |||||||||
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|
|
|
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Total |
$ | 70,774 | $ | 59,228 | $ | 11,546 | ||||||
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|
|
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Depreciation, depletion and amortization |
$ | 84,088 | $ | 51,348 | $ | 32,740 | ||||||
Asset impairment |
$ | 21,545 | $ | | $ | 21,545 | ||||||
General and administrative expense |
$ | 17,943 | $ | 18,894 | $ | (951 | ) | |||||
Capital expenditures |
$ | 340,967 | $ | 140,323 | $ | 200,644 | ||||||
Exploration expenditures |
$ | 1,789 | $ | 614 | $ | 1,175 | ||||||
Operating income |
$ | 26,005 | $ | 85,059 | $ | (59,054 | ) | |||||
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Natural Gas Distribution |
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Operating revenues |
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Residential |
$ | 130,509 | $ | 187,674 | $ | (57,165 | ) | |||||
Commercial and industrial |
46,756 | 66,906 | (20,150 | ) | ||||||||
Transportation |
15,598 | 16,493 | (895 | ) | ||||||||
Other |
1,624 | (1,501 | ) | 3,125 | ||||||||
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|
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Total |
$ | 194,487 | $ | 269,572 | $ | (75,085 | ) | |||||
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Gas delivery volumes (MMcf) |
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Residential |
8,238 | 12,591 | (4,353 | ) | ||||||||
Commercial and industrial |
3,442 | 5,000 | (1,558 | ) | ||||||||
Transportation |
12,036 | 12,970 | (934 | ) | ||||||||
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Total |
23,716 | 30,561 | (6,845 | ) | ||||||||
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Other data |
||||||||||||
Depreciation and amortization |
$ | 10,446 | $ | 9,780 | $ | 666 | ||||||
Capital expenditures |
$ | 14,943 | $ | 13,540 | $ | 1,403 | ||||||
Operating income |
$ | 78,560 | $ | 75,059 | $ | 3,501 | ||||||
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* | Amended revenue per unit of production excluding effects of all derivative instruments. |