Jennifer Warren
Research analyst, commodities, macro, natural resources

Small Cap Permian Player Energen Running With Peers

Executive Summary:

  • Energen will focus more in the oil-rich Midland Basin in 2014.
  • While their stock price rose nearly 58% in 2013 by early December, there is a measured, hearty pace to their growth potential.
  • Interestingly, their contingent resources rose 172% in 2013, creating a big inventory for a smaller E&P firm.


Small-cap exploration and production firm Energen (NYSE:EGN) is working its dual Permian basin locations consisting of the Delaware and Midland Basins. The oil-rich Midland Basin will be a target for Energen in 2014. They will spend nearly half of their planned $1.05 billion of capital to drill 55 net Wolfcamp shale wells and 2 net Cline wells, running six rigs. In 2014, overall production is...

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