- Energen (EGN) warns that severe winter weather in west Texas that began Nov. 23 has negatively affected its Permian Basin operations and could result in 2013 production falling below its guidance range of 23.4M-23.8M boe.
- While all areas in the Permian Basin were affected to some degree, EGN says its Midland Basin operations took the brunt of the ice storm's immediate impacts, including widespread power outages, limited access to production and drilling facilities, and frozen facilities.
- Pioneer Natural Resources (PXD) made a similar announcement last week.
Energen says severe weather will affect 2013 Permian results
Dec 2 2013, 18:16 ET