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Energen (EGN -6.9%) slides on wide Q3 miss late yesterday. Net earnings plunged 98% as the...
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Thursday, October 25, 2012, 12:11 PM ETEnergen (EGN -6.9%) slides on wide Q3 miss late yesterday. Net earnings plunged 98% as the company saw a 27% drop in operating revenue for oil and gas operations and a 30% plunge in natural-gas prices. The company says it plans to cut investment in natural-gas production this year due to the low prices, and turn its attention instead to its oil-and liquids-rich Permian Basin operations in Texas.
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