Energen closes common stock offering

Energen Corp. (NYSE: EGN) has closed its upsized underwritten public offering of 15,800,000 shares of its common stock and that the underwriter exercised in full its option to purchase an additional 2,370,000 shares, thereby bringing the total shares purchased to 18,170,000.

Total net proceeds (including estimated expenses) were $381.1 million. Energen intends to use the net proceeds from the offering to repay borrowings under its credit facility, to fund drilling and development activities, and/or for other general corporate purposes.

Credit Suisse Securities (USA) LLC acted as sole book-running manager for the offering.

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