Energen Corporation (NYSE:EGN) Files An 8-K Other EventsItem 8.01 Other Events.
On November 4, 2015, Energen Resources Corporation (Energen Resources), a wholly owned subsidiary of Energen Corporation, filed a quiet title action against Endeavor Energy Resources, L.P. (Endeavor) in the District Court of Howard County, Texas, to remove a cloud on the title to approximately 10,000 acres leased by Energen Resources in that county. Energen Resources believes the cloud on title arises from a prior unreleased but partially terminated oil and gas lease covering the leased lands. The trial judge ruled with respect to the acreage not held by production that Endeavor’s lease terminated prior to the date Energen Resources entered into its lease. In November 2016, the trial judge entered a final judgment to that effect. In April 2017, Endeavor appealed the trial court’s final judgement to the Texas Eleventh Court of Appeals. On October 25, 2018, the Eleventh Court of Appeals entered a judgment affirming the trial court’s final judgment in favor of Energen Resources. The judgment by the Texas Eleventh Court of Appeals is subject to rehearing before that Court and appeal to the Supreme Court of Texas.
About Energen Corporation (NYSE:EGN)
Energen Corporation (Energen) is an oil and natural gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas properties and natural gas in the Permian Basin in west Texas and the San Juan Basin in New Mexico. It is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin. All of its reserves are located in the Permian Basin in west Texas, and the San Juan Basin in New Mexico. Its development activities have added over 300 million barrels of oil equivalent of reserves from the drilling of approximately 880 gross development, exploratory and service wells (including over one sidetrack well), and over 150 well recompletions and pay-adds. The Company’s operations are conducted through its subsidiary, Energen Resources Corporation (Energen Resources).
