UPDATE 2-Energen tops expectations, ups annual output forecast [Reuters]
ENERGEN (EGN)
Last energen earnings: 11/6 04:15 pm
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Source: Reuters
Energen profit more than triples on higher oil prices | Reuters Reuters Staff 1 Min Read (Reuters) - Oil and gas company Energen Corp ( EGN.N ) on Tuesday reported a first-quarter profit that more than tripled, helped by a surge in production and higher average prices for its oil. The company sold oil at $57.65 per barrel, up from an average of $46.95 per barrel in the same period a year ago. The company was largely helped by a resurgence in U.S. oil prices CLc1, which rose to highs of $66.66 during the quarter, after hitting lows of $26.05 in 2016 due to a global crude glut. Energen also ramped up production by 76 percent to 92,900 barrels of oil equivalent per day (boe/d). The company’s net income rose to $118.9 million, or $1.22 per share, in the three months ended March 31 from $33.4 million, or 34 cents per share, a year earlier. Reporting by Anirban Paul in Bengaluru; Editing by Anil D'Silva All quotes delayed a minimum of 15 minutes. See here for a complete list of exchang
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