Energen increases 2007 natural gas, liquids hedge
US-based Energen Corporation, owner of gas exploration and production company Energen Resources Corporation (ERC), has increased its natural gas and gas-to-liquids hedging position for 2007, the company announced.
Energen Resources has approximately 1.7 trillion cubic feet equivalent of proved reserves in the San Juan, Permian and Black Warrior basins and in the North Louisiana/East Texas area.
On 16 November the company sold Nymex and basin-specific natural gas contracts totalling approximately 8.5 billion cubic feet (Bcf) at an average Nymex-equivalent price of $8.03 per thousand cubic feet (Mcf). Energen also hedged approximately 3 million gallons of NGL production at an average price of 80 cents per
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