Energen (EGN) Misses Q4 EPS by 11c

Energen (NYSE: EGN) reported Q4 EPS of $0.27, $0.11 worse than the analyst estimate of $0.38.

2016 Production Guidance

Production in 2016 is estimated to be essentially flat relative to 2015, as 25 percent production growth from horizontal drilling and development activities in the Midland Basin is offset by natural declines in the vertical Wolfberry, the 3rd Bone Spring sands in the Delaware Basin, and the Central Basin Platform.

Excluding production from the planned sales of non-core assets in the San Juan and Delaware basins, the company estimates that production in 2016 will range from 19.5-20.3 MMBOE, or 53,280-55,465 boepd. The guidance midpoint is 19.9 MMBOE, or 54,437 boepd. With DUC completions scheduled to occur in the first half of the year, 2016 production is expected to peak in 3Q16. Energen’s 4Q16 exit rate is estimated to be 51,370 boepd, or 12 percent less than the comparable 4Q15 exit rate of 58,457 boepd.

Production by Product, Pro Forma to Exclude Planned Sales of Non-Core Assets

Production by Play, Pro Forma to Exclude Planned Sales of Non-Core Assets

For earnings history and earnings-related data on Energen (EGN) click here.

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