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Chattanooga Well Frac Set for Late July

  //business-finance.news-articles.net/content/201 .. /28/chattanooga-well-frac-set-for-late-july.html
  Published in Business and Finance on Monday, June 28th 2010 at 13:40 GMT by Market Wire
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BIRMINGHAM, Ala.--([ BUSINESS WIRE ])--Energen Corporation (NYSE: EGN) said today that the 3,000 foot horizontal length of its Chattanooga shale test well, the Westervelt 19-2 #1, has been drilled and set and is scheduled to be hydraulically fractured in late July. A minor delay while drilling the horizontal leg caused the company to have to reschedule its planned, multi-stage nitrogen frac. Energen also plans to frac in late July an uphole interval in the Marchant 22-16 #1.

Energen had hoped to have well results to disclose in June; a determination of the two shalesa™ economic viability may not be known now until late summer/early fall.

Energen Corporation is a diversified energy holding company with headquarters in Birmingham, AL. Its two lines of business are the acquisition, development and exploration of domestic, onshore natural gas, oil and NGL reserves and natural gas distribution in central and north Alabama. Energen Resources has approximately 3.5 trillion cubic feet equivalent of proved, probable, and possible reserves in the San Juan, Permian, and Black Warrior basins. Alabama Gas Corporation is the largest distributor of natural gas in Alabama. More information is available at [ http://www.energen.com ].

This release contains statements expressing expectations of future plans, objectives and performance that constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. Except as otherwise disclosed, the Company's forward-looking statements do not reflect the impact of possible or pending acquisitions, divestitures or restructurings. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise. All statements based on future expectations rather than on historical facts are forward-looking statements that are dependent on certain events, risks and uncertainties that could cause actual results to differ materially from those anticipated. In addition, the Company cannot guarantee the absence of errors in input data, calculations and formulas used in its estimates, assumptions and forecasts. A more complete discussion of risks and uncertainties that could affect future results of Energen and its subsidiaries is included in the Company's periodic reports filed with the Securities and Exchange Commission.