Calendar of Events

Aug 04, 2014 to Aug 15, 2014 | Michigan State University, East Lansing, MI
Aug 11, 2014 to Aug 12, 2014 | New York, NY
Sep 08, 2014 to Sep 10, 2014 | Chicago, IL

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Public Utilities Reports

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Energen to Sell Its Natural Gas Utility to The Laclede Group

Energen signed a definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corporation (Alagasco), to The Laclede Group. The value of the transaction is $1.6 billion, subject to customary closing adjustments, and is comprised of $1.28 billion in cash and approximately $320 million of debt. Energen's after-tax proceeds are estimated to be $1.1 billion, after consideration of accelerated intangible drilling costs. This transaction is subject to state and federal regulatory approval and is expected to close in 2014. J.P. Morgan Chase & Co. is acting as financial advisor to Energen, and Bradley Arant Boult Cummings LLP is acting as legal counsel.

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