- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
-
- IPO Date
- Jun 1, 1972
- Business
- Energen Corporation (NYSE: EGN), a subsidiary of Diamondback Energy, Inc. following its $9.2 billion all-stock acquisition completed in November 2018, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas primarily in the Permian Basin of west Texas and New Mexico, including the Midland Basin, Delaware Basin, and Central Basin Platform areas; through its subsidiary Energen Resources Corporation, the company focuses on onshore drilling and resource extraction from proved reserves exceeding 444 million barrels of oil equivalent as of late 2017, targeting multiple zones in the northern Midland Basin with significant undeveloped potential of over 2 billion barrels of oil equivalent across thousands of net drilling locations. Energen offers core products such as various grades of crude oil processed into gasoline, diesel, and jet fuel; natural gas and liquefied natural gas (LNG) for domestic and industrial applications; and natural gas liquids (NGLs) including ethane, propane, and butane for petrochemical feedstocks and consumer heating; its services encompass drilling from site preparation to well execution using advanced technologies, completion operations like hydraulic fracturing and casing, production optimization via enhanced recovery techniques and monitoring, environmental compliance for waste management and regulatory adherence, and consulting on asset evaluation and energy investments. Headquartered in Birmingham, Alabama, with key operations in Midland, Texas, and founded in 1978 with historical roots tracing to 1852 via predecessor entities, Energen maintains all-domestic U.S. operations serving energy markets while integrating into Diamondback's portfolio for enhanced capital efficiency and Permian growth synergies post-acquisition, with no major subsequent acquisitions, partnerships, funding rounds, or strategic shifts reported as of late 2025.