Attached files
file | filename |
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EX-1.1 - EX-1.1 - ENERGEN CORP | d127242dex11.htm |
EX-5.1 - EX-5.1 - ENERGEN CORP | d127242dex51.htm |
EX-99.2 - EX-99.2 - ENERGEN CORP | d127242dex992.htm |
EX-99.3 - EX-99.3 - ENERGEN CORP | d127242dex993.htm |
EX-99.1 - EX-99.1 - ENERGEN CORP | d127242dex991.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report February 17, 2016
Commission File Number | Registrant | State of Incorporation | IRS Employer Identification Number | |||
1-7810 | Energen Corporation | Alabama | 63-0757759 |
605 Richard Arrington Jr. Boulevard North | ||
Birmingham, Alabama | 35203 | |
(Address of principal executive offices) | (Zip Code) |
(205) 326-2700
(Registrants telephone number including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 23 0.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 1 Registrants Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
On February 17, 2016, Energen Corporation (Energen) entered into an Underwriting Agreement (the Underwriting Agreement) with Credit Suisse Securities (USA) LLC (the Underwriter). The Underwriting Agreement relates to a public offering and sale by Energen (the Firm Share Offering) of 15,800,000 shares of its common stock, par value $0.01 per share (the Common Stock), at a price to the Underwriter of $20.99 per share (the Purchase Price). Pursuant to the Underwriting Agreement, Energen granted the Underwriter a 30-day option to purchase up to an additional 2,370,000 shares of Common Stock on the same terms (the Optional Share Offering and, together with the Firm Share Offering, the Offering), which option was exercised in full on February 17, 2016.
The Offering closed on February 22, 2016. Energen received net proceeds of approximately $381.1 million (after deducting estimated offering expenses) from the Offering. Energen intends to use the net proceeds from the Offering to repay borrowings under its credit facility, to fund drilling and development activities, and/or for other general corporate purposes.
The Underwriting Agreement contains customary representations, warranties and agreements by Energen and customary conditions to closing, obligations of the parties and termination provisions. Energen has agreed to indemnify the Underwriter against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the Securities Act), and the Securities Exchange Act of 1934, as amended (the Exchange Act), or to contribute to payments the Underwriter may be required to make because of any of those liabilities.
The Offering was made pursuant to Energens effective automatic shelf registration statement on Form S-3 (File No. 333-203914), filed with the Securities and Exchange Commission (the Commission) on May 6, 2015 (the Registration Statement), and a prospectus, which consists of a base prospectus, filed with the Commission on May 6, 2015, a preliminary prospectus supplement, filed with the Commission on February 17, 2016, and a final prospectus supplement, filed with the Commission on February 19, 2016 (collectively, the Prospectus).
In the ordinary course of its business, the Underwriter (directly or through affiliates) has engaged, and may in the future engage, in commercial banking, investment banking, financial advisory or other services to Energen and its affiliates for which it has in the past and may in the future receive customary compensation and expense reimbursement.
The preceding summary of the material terms of the Underwriting Agreement is qualified in its entirety by the full text of such agreement, which is filed herewith as Exhibit 1.1. In the event of any discrepancy between the preceding summary and the text of the Underwriting Agreement, the text of the Underwriting Agreement shall control.
Section 7 Regulation FD
Item 7.01 Regulation FD Disclosure.
On February 17, 2016, Energen announced that it had commenced the Offering described in Item 1.01 of this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
On February 17, 2016, Energen announced that it had priced the Offering described in Item 1.01 of this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
On February 22, 2016, Energen announced that (a) the Underwriter had exercised its option to purchase the additional 2,370,000 shares of Common Stock pursuant to the Optional Share Offering and (b) Energen had closed the Offering and received net proceeds of $381.1 million (after deducting estimated offering expenses), in each case as described in Item 1.01 of this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.3 to this Current Report on Form 8-K.
The information furnished in this Item 7.01 shall not be deemed to be filed for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall such information be deemed to be incorporated by reference into any of Energens filings under the Securities Act or the Exchange Act.
Section 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) | Exhibits. |
EXHIBIT |
DESCRIPTION | |
1.1 | Underwriting Agreement, dated February 17, 2016, by and between Energen Corporation and Credit Suisse Securities (USA) LLC. | |
5.1 | Opinion of Bradley Arant Boult Cummings LLP. | |
23.1 | Consent of Bradley Arant Boult Cummings LLP (included in Exhibit 5.1). | |
99.1 | Press release of Energen Corporation dated February 17, 2016. | |
99.2 | Press release of Energen Corporation dated February 17, 2016. | |
99.3 | Press release of Energen Corporation dated February 22, 2016. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
ENERGEN CORPORATION | ||||||
February 22, 2016 |
By | /S/ CHARLES W. PORTER, JR. | ||||
Charles W. Porter, Jr. | ||||||
Vice President, Chief Financial Officer and Treasurer of Energen Corporation |
EXHIBIT INDEX
EXHIBIT |
DESCRIPTION | |
1.1 | Underwriting Agreement, dated February 17, 2016, by and between Energen Corporation and Credit Suisse Securities (USA) LLC. | |
5.1 | Opinion of Bradley Arant Boult Cummings LLP. | |
23.1 | Consent of Bradley Arant Boult Cummings LLP (included in Exhibit 5.1). | |
99.1 | Press release of Energen Corporation dated February 17, 2016. | |
99.2 | Press release of Energen Corporation dated February 17, 2016. | |
99.3 | Press release of Energen Corporation dated February 22, 2016. |