Energen unit to acquire Permian Basin properties for $168 million

Energen Corporation has announced that its oil and gas acquisition and development subsidiary, Energen Resources Corporation (ERC), has signed a purchase and sale agreement to buy Permian Basin oil properties from a private company for $168 million (subject to closing adjustments). The sale, expected to close by the end of the year, will have an effective date of November 1, 2005.