Average realized NGL prices will be net oftransportation and fractionation fees. 2009 EARNINGS GUIDANCE RANGE AFFIRMEDEnergen today affirmed its 2009 earnings guidance range at $3.10 – $3.50 perdiluted share. * Average diluted shares outstanding of 71.9 million.Energen`s earnings guidance does not include potential benefits from propertyacquisitions, Alabama shales exploration or stock repurchases. Alabama Gas CorporationAlagasco generated net income in the 12 months ended March 31, 2009, of $44.0million as compared with $40.2 million in the same period a year ago.

Per-unit net G&A expense in the trailing 12 months period declined 19 percentover the same period in 2008 to 43 cents per Mcfe largely due to lower benefitsrelated to the company`s performance-based compensation plan. DD&A expense per unit in the 12 months ended March 31, 2009, increased 24percent over the same period last year to $1.41 per Mcfe, largely due to higherdevelopment costs and a price-driven, downward revision of year-end 2008 provedreserves. Average Realized Sales Prices, T12M ComparisonCommodity2009 2008 ChangeNatural Gas (per Mcf)$7.57 $7.78 (3) %Oil (per barrel) $67.27$67.11- NGL (per gallon) $0.91 $0.95 (4) %Production, T12M Comparison Commodity2009 2008 ChangeNatural Gas (Bcf)68.8 65.2 6 %Oil (MBbl) 4,260.03,897.09 %NGL (MMgal)71.5 75.1 (5) %Total (Bcfe) 104.699.3 5 % Per-unit LOE totaled $2.21 per Mcfe in the 12 months ending March 31, 2009, up2.3 percent from $2.16 per Mcfe in the same period a year ago; this increaselargely was due to increased workover expense, increased ad valorem taxes, andincreased marketing & transportation expenses, partially offset by a decline inper-unit production taxes. Energen Resources CorporationEnergen Resources` net income for the trailing 12 months totaled $257.3 millionas compared with $282.6 million in the same period a year ago. Prior-period results includeda $6.4 million, or 9 cents per diluted share, gain from the sale of a smallPermian Basin property.

TRAILING 12-MONTHS RESULTSFor the 12 months ended March 31, 2008, Energen`s net income totaled $300.8million, or $4.17 per diluted share, and compared with $322.0 million, or $4.47per diluted share, for the same period a year ago. Base LOE andmarketing and transportation expenses fell approximately 2 percent largely dueto decreased compression expense and lower field service costs, partially offsetby higher ad valorem taxes. The biggest decline in per-unit LOE came fromcommodity price-driven production taxes, which fell 57 percent on a per-unitbasis. Depreciation, depletion and amortization expense (DD&A) per unit in the firstquarter of 2009 increased 27 percent over the same period last year to $1.54 perMcfe largely due to higher development costs and lower year-end reserve prices.Per-unit net G&A expense in the first quarter of 2009 declined 13 percent overthe same period in 2008 to 46 cents per Mcfe.

TX/Other2.0 2.2 (9) % Total per-unit LOE in the first quarter of 2009 declined approximately 18percent from the prior-year first quarter to $2.01 per Mcfe. Average Realized Sales Prices, First Quarter Comparison Commodity1Q09 1Q08 ChangeNatural Gas (per Mcf)$6.55 $7.97 (18 )% Oil (per barrel) $52.97$67.90(22 )% NGL (per gallon) $0.83 $1.04 (20 )% Production, First Quarter ComparisonCommodity1Q09 1Q08ChangeNatural Gas (Bcf)17.7 16.48 %Oil (MBbl) 1,090944 15%NGL (MMgal)17.5 16.75 %Total (Bcfe) 26.7 24.59 % Production By Area (Bcfe), First Quarter Comparison Area 1Q091Q08ChangeSan Juan Basin 13.412.012% Permian Basin7.8 6.8 15% Black Warrior Basin3.5 3.5 NCN LA/E. Energen Resources CorporationEnergen Resources` net income for the first three months of 2009 totaled $47.1million and compared with $72.5 million in the same period last year. Prior-period resultsincluded a $6.4 million, or 9 cents per diluted share, gain from the sale of asmall Permian Basin property.