Energen Boosts 2018 Total Production Outlook - Quick Facts

(RTTNews) - While reporting its first-quarter financial results, Energen Corp. (EGN) on Tuesday raised its estimated 2018 total production guidance to a range of 92.0 to 99.0 mboepd from the prior forecast range of 91.5 to 98.5 mboepd, to reflect the impact of first-quarter actual results. Annual oil production is still projected at 56.0 to 59.0 mbopd.

For the second quarter, the company projects total production of 87.5 to 94.5 mboepd and oil production of 51.5 to 54.5 mbopd.

For the first quarter, the company reported total production of 92.9 mboepd surpassing the guidance midpoint of 89.5 mboepd by 4 percent primarily due to well outperformance.

The company also reported oil production of 55.4 mbopd exceeding the top end of the guidance range and up 5 percent from midpoint of 53.0 mbopd.