Energen Corporation announced unaudited consolidated earnings and operating results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company's total revenues were USD 271,796,000 against USD 114,520,000 a year ago. Operating income was USD 46,817,000 against operating loss of USD 68,596,000 a year ago. Income before income taxes was USD 36,621,000 against loss of USD 77,239,000 a year ago. Net income was USD 262,430,000 against net loss of USD 54,470,000 a year ago. Diluted earnings per average common share were USD 2.68 against basic and diluted loss per share of USD 0.56 a year ago. Adjusted income from continuing operations (non-GAAP) was USD 61.3 million or USD 0.63 per diluted share against loss of USD 26.6 million or USD 0.27 loss per diluted share a year ago. Energen adjusted EBITDAX from continuing operations (non-GAAP) were USD 241.0 million against USD 82.1 million a year ago. Capital expenditures (including acquisitions) were USD 217,475,000 against USD 154,455,000 a year ago.

For the year, the company's total revenues were USD 961,045,000 against USD 532,889,000 a year ago. Operating income was USD 145,136,000 against operating loss of USD 211,230,000 a year ago. Income before income taxes was USD 107,387,000 against loss of USD 247,151,000 a year ago. Net income was USD 306,828,000 against net loss of USD 167,513,000 a year ago. Diluted earnings per average common share were USD 3.14 against basic and diluted loss per share of USD 1.77 a year ago. Adjusted income from continuing operations (non-GAAP) was USD 73.6 million or USD 0.75 per diluted share against loss of USD 128.8 million or USD 1.36 loss per diluted share a year ago. Energen adjusted EBITDAX from continuing operations (non-GAAP) were USD 653.0 million against USD 293.2 million a year ago. Capital expenditures (including acquisitions) were USD 1,189,342,000 against USD 582,898,000 a year ago.

For the quarter, the company's oil production volumes were 5,343 MBbl against 2,944 MBbl a year ago. Natural gas liquids production volumes were 74.8 MMgal against 37.5 MMgal a year ago. Natural gas production volumes were 11,028 MMcf against 6,504 MMcf a year ago. Total production volumes were 8,961 MBOE against 4,920 MBOE a year ago. Total average daily production volumes were 97.4 MBOE/d against 53.5 MBOE/d a year ago.

For the year, the company's oil production volumes were 16,951 MBbl against 13,213 MBbl a year ago. Natural gas liquids production volumes were 220.7 MMgal against 163.5 MMgal a year ago. Natural gas production volumes were 33,528 MMcf against 27,204 MMcf a year ago. Total production volumes were 27,794 MBOE against 21,639 MBOE a year ago. Total average daily production volumes were 76.1 MBOE/d against 59.1 MBOE/d a year ago.

For the quarter, the company's asset impairment was USD 82,000 against USD 40,000 a year ago.

For the year 2018, the company's production in 2018 is estimated to range from 91.5 mboepd - 98.5 mboepd, reflecting a 25% increase from 2017 at midpoint. The company expects interest expense in the range of USD 46.5 million to USD 51.5 million. Effective tax rate expected to be in the range of 22% to 24%. DD&A expense expects of USD 14.00 to USD 14.50 per boe. The company plans to invest USD 1.1 billion to USD 1.3 billion of capital for drilling and development activities in 2018 (approximately USD 550 to USD 650 million in each of the Delaware and Midland basins).

For the first quarter of 2018, the company expects DD&A (depreciation, depletion and amortization) expense of USD 14.70 to USD 15.20 per boe and effective tax rate of 22% to 24%.

For the second quarter of 2018, the company expects DD&A (depreciation, depletion and amortization) expense of USD 14.45 to USD 14.95 per boe and effective tax rate of 22% to 24%.

For the third quarter of 2018, the company expects DD&A (depreciation, depletion and amortization) expense of USD 13.85 to USD 14.35 per boe and effective tax rate of 22% to 24%.

For the fourth quarter of 2018, the company expects DD&A (depreciation, depletion and amortization) expense of USD 13.15 to USD 13.65 per boe and effective tax rate of 22% to 24%.