BIRMINGHAM, Ala., Aug. 27 /PRNewswire/ -- Energen Corporation (NYSE: EGN) today announced that its natural gas utility, Alabama Gas Corporation (Alagasco), has completed the sale of $75 million of 15- and 30-year notes due September 1, 2016 and 2031, respectively. Net proceeds will be used to repay short-term debt and for general corporate purposes.

The underwriters of the offering were Edward D. Jones & Co., L.P., which handled the sale of $40 million of 15-year notes priced at par with a coupon of 6.25 percent, and A.G. Edwards & Sons, Inc., which placed $35 million of 30-year notes priced at par with a coupon of 6.75 percent.

Alagasco, a wholly owned subsidiary of Energen Corporation, is the largest natural gas distribution company in Alabama, serving approximately 470,000 customers in central and north Alabama. Energen Corporation is a diversified energy holding company engaged in natural gas distribution and the acquisition and exploitation of oil and natural gas properties in North America.

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SOURCE Energen Corporation

CONTACT: Julie S. Ryland of Energen Corporation, +1-205-326-8421/