Energen boosts production view, ends strategic review

Published 06/20/2017, 03:58 PM
© Reuters.  Energen boosts production view, ends strategic review
EGN
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  • Energen (EGN -4.1%) is lower despite raising its FY 2017 production outlook and ending its strategic review.
  • Citing the strength of results from wells completed with its Generation 3 frac design, EGN raises its total 2017 production estimate to 70.2K boe/day, or 5.9% higher than prior guidance, which would bring its Y/Y production growth to 29% vs. a prior outlook for a 21% gain.
  • Drilling and development capital spending guidance for the full year remains unchanged at $850M-$900M.
  • Citing the strong performance, EGN's board says continuing to execute its current business plan is the best path to enhancing shareholder value.
  • Now read: Energen (EGN) Presents At Raymond James Spring Investors Conference - Slideshow


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