0001193125-12-182610.txt : 20120426 0001193125-12-182610.hdr.sgml : 20120426 20120425180118 ACCESSION NUMBER: 0001193125-12-182610 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120425 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120426 DATE AS OF CHANGE: 20120425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALABAMA GAS CORP CENTRAL INDEX KEY: 0000003146 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 630022000 STATE OF INCORPORATION: AL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 002-38960 FILM NUMBER: 12780946 BUSINESS ADDRESS: STREET 1: 605 RICHARD ARRINGTON JR BLVD NORTH CITY: BIRMINGHAM STATE: AL ZIP: 35203 BUSINESS PHONE: 2053262742 MAIL ADDRESS: STREET 1: 605 RICHARD ARRINGTON JR BLVD NORTH CITY: BIRMINGHAM STATE: AL ZIP: 35203 8-K/A 1 d341001d8ka.htm FORM 8-K/A Form 8-K/A

 

 

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

(Registrant’s 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
Number:

      

99.2

    Amended Supplemental Financial Information

 

2

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

 

3

EXHIBIT INDEX

 

EXHIBIT
NUMBER

   

DESCRIPTION

99.2

    * Amended Supplemental Financial Information

 

* This exhibit is furnished to, but not filed with, the Commission by inclusion herein.

 

4

EX-99.2 2 d341001dex992.htm EX-99.2 EX-99.2

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

        

Operating revenues

        

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 ) 
  

 

 

     

 

 

    

 

 

  

Total

    $ 223,957       $ 216,792      $ 7,165   
  

 

 

     

 

 

    

 

 

  

Production volumes

        

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

        

Lease operating expense (LOE)

        

LOE and other

    $ 56,612       $ 46,945      $ 9,667   

Production taxes

      14,162         12,283        1,879   
  

 

 

     

 

 

    

 

 

  

Total

    $ 70,774       $ 59,228      $ 11,546   
  

 

 

     

 

 

    

 

 

  

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 ) 
  

 

 

     

 

 

    

 

 

  

Natural Gas Distribution

        

Operating revenues

        

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   
  

 

 

     

 

 

    

 

 

  

Total

    $ 194,487       $ 269,572      $ (75,085 ) 
  

 

 

     

 

 

    

 

 

  

Gas delivery volumes (MMcf)

        

Residential

      8,238         12,591        (4,353 ) 

Commercial and industrial

      3,442         5,000        (1,558 ) 

Transportation

      12,036         12,970        (934 ) 
  

 

 

     

 

 

    

 

 

  

Total

      23,716         30,561        (6,845 ) 
  

 

 

     

 

 

    

 

 

  

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   
  

 

 

     

 

 

    

 

 

  
* Amended revenue per unit of production excluding effects of all derivative instruments.