Energen Corporation (NYSE: EGN) said today that it is assessing the impact of severe winter weather on its Permian Basin operations. Adverse weather conditions began affecting the company’s operations in the Delaware and Midland basins and Central Basin Platform on December 30, 2014. The storm’s impacts include power outages, trucking curtailments, limited access to production and drilling facilities, and frozen facilities. Given the timing of the storm, the company’s fourth quarter 2014 production is expected to be minimally affected (less than 100,000 barrels of oil equivalent); additional production impacts will be felt in the first quarter of 2015 and will be reflected in the company’s 2015 guidance to be issued after the market closes on February 12.

Energen Corporation is an oil and gas exploration and production company with headquarters in Birmingham, Alabama. At year-end 2013, the company had approximately 775 million barrels of oil-equivalent proved, probable, and possible reserves and 2.5 billion BOE of contingent resources. These all-domestic reserves are located primarily in the Permian Basin of west Texas. For more information, go to http://www.energen.com.

FORWARD LOOKING STATEMENT: 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.