U.S energy holding company
) board of directors elected Davis E. Richards to head drilling
and completion operations at the company's oil and gas
exploration and production unit. The appointment is effective
from Oct 1, 2013. The move is in sync with Energen's current
focus on the exploration and development of its extensive oil and
natural gas liquids assets in the Permian Basin.
Energen's appointment of seasoned driller Richards to the newly
created position of Vice President of Drilling and Completions is
a prudent move. He brings to Energen extensive knowledge of
horizontal drilling, shale well completions, recompletion and
work-over programs, and cost control.
Richards has over 35 years of experience in drilling, completion,
reservoir, and production operations. Moreover, he has valuable
working experience through his association with business giants
such as the erstwhile El Paso Corp. which was later acquired by
Kinder Morgan, Inc.
Birmingham, Alabama-based Energen is an independent oil and gas
exploration and production company engaged in the acquisition,
exploration, and development of oil and gas in the U.S. The
company also purchases, distributes and sells clean-burning,
energy-efficient natural gas to the commercial and residential
customers. Energen has roughly 750 million barrels of oil
equivalent proved reserves, the majority of which is located in
the Permian and San Juan basins.
Going forward, we believe that Energen will be able to generate
sufficient cash flows for its shareholders in the coming years,
which will likely be backed by strong operating performances and
good management decisions.
Earlier, higher production for natural gas and natural gas
liquids (NGL) has positively benefited the company's second
quarter 2013 earnings.
Energen currently retains a Zacks Rank #2 (Buy). Certain other
domestic energy firms like
Matador Resources Co.
Stone Energy Corp.
) are expected to significantly outperform the equity market in
the next one to three months. All the three stocks currently hold
a Zacks Rank #1 (Strong Buy).
ENERGEN CORP (EGN): Free Stock Analysis
KINDER MORGAN (KMI): Free Stock Analysis
MATADOR RESOURC (MTDR): Free Stock Analysis
STONE ENERGY CP (SGY): Free Stock Analysis
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