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Stock Market & Financial Investment News

News Breaks
April 7, 2014
07:03 EDTLG, EGNEnergen to sell natural gas utility to Laclede Group for $1.6B
Energen Corporation (EGN) announced that it has signed a definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corporation, to The Laclede Group (LG). The value of the transaction is $1.6B, subject to customary closing adjustments, and is comprised of $1.28B in cash and approximately $320M of debt. Energenís after-tax proceeds are estimated to be $1.1B, after consideration of accelerated intangible drilling costs. Energen plans to use cash proceeds from the transaction to immediately reduce short-term indebtedness, thereby enhancing its financial capacity to potentially accelerate the pace of drilling and development of its Permian Basin assets in 2015 and beyond.
News For EGN;LG From The Last 14 Days
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April 20, 2015
07:22 EDTEGNIndependent Petroleum Association of America to hold a conference
IPAA-OGIS New York is being held in New York on April 20-22.
April 16, 2015
12:21 EDTEGNEnergen management to meet with SunTrust
Group dinner to be held in New York on April 21 hosted by SunTrust.
April 15, 2015
17:27 EDTEGNEnergen expects to realize additional well-cost savings of 15%-25% by year-end
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