Energen Adds to 2009, 2011 Hedge Position.

BIRMINGHAM, Ala. -- Energen Corporation (NYSE: EGN) announced today that its oil and gas exploration and production subsidiary, Energen Resources Corporation, has hedged an additional 450,000 barrels of its July-December 2009 oil production at an average NYMEX-equivalent price of $75.19 per barrel. The U.S. driller also said it has hedged another 9.6 billion cubic feet (Bcf) of its 2011 San Juan Basin natural gas production at an average NYMEX-equivalent price of $7.40 per thousand cubic feet (Mcf) as well as an additional 600,000 barrels of 2011 sour oil production at an average NYMEX-equivalent price of $80.94 per barrel.

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Energen Corporation is a diversified energy holding company with headquarters in Birmingham, AL. Its two lines of business are the acquisition, development and exploration of domestic, onshore natural gas, oil and NGL reserves and natural gas distribution in central and north Alabama. Energen Resources has approximately 3.6 trillion cubic feet equivalent of proved, probable and possible reserves (pro forma for pending acquisition) in the San Juan, Permian and Black Warrior basins. Alabama Gas Corporation is the largest distributor of natural gas in Alabama. More information is available at http://www.energen.com.