Energen Projects 2018 Production To Grow 25% Year-over-year At Midpoint

(RTTNews) - While reporting its fourth-quarter financial results today, Energen Corp. (EGN) forecast production in 2018 to range from 91.5 mboepd to 98.5 mboepd, reflecting a 25 percent increase from 2017 at midpoint, and annual oil production from 2018 to 2020 to grow at 3-year CAGR of more than 28 percent.

The company projects annual production will grow from 95 mboepd, at guidance midpoint, in 2018 to more than 160 mboepd in 2020 and that fourth-quarter production will increase from 107 mboepd, at guidance midpoint, in 2018 to approximately 135 mboepd in 2019 and 170 mboepd in 2020.