Feb 10 (Reuters) - Energen Corp:
* To acquire proved wolfberry properties
* Deal for $65.8 million
* Is cutting about $45 million from Energen resources' planned capital
investment in the San Juan basin in 2012
* Says capital reduction is a direct result of the current outlook for low
natural gas prices.
* The bulk of the company's natural gas production comes from the San Juan
basin.
* Says estimated production in 2012 remains 24 mmboe
* Unit signed purchase and sale agreement to buy a primarily proved undeveloped
wolfberry package from a private seller
* Unit's revised capital investment plans for 2012 reflect approximately $890
million for drilling and development
* Agreement to buy a primarily proved undeveloped wolfberry package from a
private seller
* For 2012 capital investment plans reflect $855 million targeting the oil- and
liquids-rich permian basin
* Expects to cease all drilling activities in San Juan basin after June 30,
2012
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