ENERGEN CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2018 10-Q, filed Nov 8, 2018. Its latest SEC filing is a EFFECT from Jul 11, 2019.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Produces oil, natural gas liquids and natural gas for sale to energy marketing companies and other third-party buyers.

How Did They Make Money?

Sells its oil, natural gas liquids and natural gas to third parties, mainly energy marketing companies; buyers typically pay in the month after delivery.

FY2017 revenue

Who Were Their Customers?

Energen sells its production to third parties, with sales primarily to energy marketing companies.

Customers above 10% of revenue, FY2017

of revenue from two customers (56%, 13%)

Did Revenues Turn Into Profits?

Yes. It kept 32 cents of every revenue dollar as net income in FY2017, but spent more cash than it brought in: free cash flow was −$340.5M.

Operating income, FY2017

15% of revenue

▲ Now profitable vs FY2016 (−$211.2M, −40%)

Net income, FY2017

32% of revenue

▲ Now profitable vs FY2016 (−$167.5M, −31%)

Free cash flow, FY2017

−35% of revenue

▲ +124% (Loss) vs FY2016 (−$152M, −29%)

How Were They Changing?

Since the FY2017 annual report

Latest quarter: Q3 FY2018, the three months to Sep 30, 2018

Revenue: ▲ +18%; vs $191.5M in Q3 FY2017
Net income: ▲ +44% (Loss); vs −$18.5M in Q3 FY2017

Nov 30, 2018 Diamondback completed its acquisition of Energen Energen became Diamondback's wholly owned subsidiary, and its shares were delisted from the NYSE.

Shrank. Revenue fell 20% in 4 years, from $1.2B in FY2013 to $961M in FY2017, about 6% a year.

Permian-focused footprint Energen's earlier business description included both the Permian and San Juan basins; it later sold most of its San Juan natural gas assets and described operations as primarily in the Permian.

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