Energen Adds to 2010, 2011 Oil Hedge Positions.

BIRMINGHAM, Ala. -- Energen Corporation (NYSE: EGN) announced today that its oil and gas exploration and production subsidiary, Energen Resources Corporation, has hedged an additional 492,000 barrels of its 2010 oil production at a NYMEX price of $76.30 per barrel and 456,000 barrels of its 2011 oil production at a NYMEX price of $79.50 per barrel.

Energen's total hedge positions for 2010 and 2011 are as follows:

2010 Hedge Position  <                 <




                     <                 <




Commodity            <                 <  Hedge Volumes

NYMEXe Price


Natural Gas          <                 <  44.4 Bcf

$8.81/Mcf


Oil                  <                 <  3.5 MMBbl

$86.59/barrel


                     <                 <
2011 Hedge Position  <                 <




                     <                 <




Commodity            <                 <  Hedge Volumes

NYMEXe Price


Natural Gas          <                 <  37.1 Bcf

$7.19/Mcf


Oil                  <                 <  3.0 MMBbl

$76.22/barrel


                     <                 <

Energen's hedge position by commodity type for 2010 and 2011 are as follows:

[TABLE OMITTED]
[TABLE OMITTED]

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 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.