Energen (EGN) 8-K ENERGEN REPORTS STRONG 3rd QUARTER RESULTS

EXHIBIT 99.2

Consolidated Statements of Income (Unaudited)
For the 3 months ending September 30, 2005 and 2004

	3rd Quarter
(in thousands, except per share data)		2005		2004		Change
Operating Revenues
Oil and gas operations	$	126,260	$	104,181	$	22,079
Natural gas distribution		64,421		62,162		2,259
Total operating revenues		190,681		166,343		24,338
Operating Expenses
Cost of gas		27,386		26,545		841
Operations & maintenance		67,818		60,780		7,038
DD&A		34,215		30,849		3,366
Taxes, other than income taxes		19,523		15,343		4,180
Accretion expense		668		613		55
Total operating expenses		149,610		134,130		15,480
Operating Income		41,071		32,213		8,858
Other Income (Expense)
Interest expense		(11,600)		(10,515)		(1,085)
Other income		822		702		120
Other expense		(104)		(225)		121
Total other expense		(10,882)		(10,038)		(844)
Income Before Income Taxes		30,189		22,175		8,014
Income tax expense		11,116		8,498		2,618
Income from Continuing Operations		19,073		13,677		5,396
Discontinued Operations, Net of Taxes
Income from discontinued operations		3		55		(52)
Gain on disposal		10		8		2
Income from Discontinued Operations		13		63		(50)
Net Income	$	19,086	$	13,740	$	5,346
Diluted Earnings Per Share
Continuing operations	$	0.26	$	0.19	$	0.07
Discontinued operations		-		-		-
Net Income	$	0.26	$	0.19	$	0.07
Basic Earnings Per Share
Continuing operations	$	0.26	$	0.19	$	0.07
Discontinued operations		-		-		-
Net Income	$	0.26	$	0.19	$	0.07
Diluted Avg. Common Shares Outstanding		73,878		73,401		477
Basic Avg. Common Shares Outstanding		73,024		72,537		487
Dividends Per Share	$	0.10	$	0.09625	$	0.00375

Consolidated Statements of Income (Unaudited)
For the 9 months ending September 30, 2005 and 2004

	Year-to-date
(in thousands, except per share data)		2005		2004		Change
Operating Revenues
Oil and gas operations	$	363,567	$	295,538	$	68,029
Natural gas distribution		429,746		410,108		19,638
Total operating revenues		793,313		705,646		87,667
Operating Expenses
Cost of gas		214,665		205,574		9,091
Operations & maintenance		195,127		170,126		25,001
DD&A		98,741		88,418		10,323
Taxes, other than income taxes		65,867		55,647		10,220
Accretion expense		1,965		1,635		330
Total operating expenses		576,365		521,400		54,965
Operating Income		216,948		184,246		32,702
Other Income (Expense)
Interest expense		(34,794)		(31,527)		(3,267)
Other income		1,694		2,197		(503)
Other expense		(638)		(1,920)		1,282
Total other expense		(33,738)		(31,250)		(2,488)
Income Before Income Taxes		183,210		152,996		30,214
Income tax expense		67,619		56,943		10,676
Income from Continuing Operations		115,591		96,053		19,538
Discontinued Operations, Net of Taxes
Income (loss) from discontinued operations		(2)		147		(149)
Gain (loss) on disposal		120		(5)		125
Income from Discontinued Operations		118		142		(24)
Net Income	$	115,709	$	96,195	$	19,514
Diluted Earnings Per Share
Continuing operations	$	1.57	$	1.31	$	0.26
Discontinued operations		-		-		-
Net Income	$	1.57	$	1.31	$	0.26
Basic Earnings Per Share
Continuing operations	$	1.58	$	1.33	$	0.25
Discontinued operations		.01		-		0.01
Net Income	$	1.59	$	1.33	$	0.26
Diluted Avg. Common Shares Outstanding		73,725		73,258		467
Basic Avg. Common Shares Outstanding		72,998		72,449		549
Dividends Per Share	$	0.30	$	0.28125	$	0.01875

 Consolidated Statements of Income (Unaudited)
For the 12 months ending September 30, 2005 and 2004

	Trailing 12 Months
(in thousands, except per share data)		2005		2004		Change
Operating Revenues
Oil and gas operations	$	478,146	$	382,241	$	95,905
Natural gas distribution		546,378		525,673		20,705
Total operating revenues		1,024,524		907,914		116,610
Operating Expenses
Cost of gas		268,980		260,352		8,628
Operations & maintenance		259,151		229,307		29,844
DD&A		131,100		117,754		13,346
Taxes, other than income taxes		85,153		71,357		13,796
Accretion expense		2,595		2,106		489
Total operating expenses		746,979		680,876		66,103
Operating Income		277,545		227,038		50,507
Other Income (Expense)
Interest expense		(46,010)		(42,080)		(3,930)
Other income		2,408		3,533		(1,125)
Other expense		(899)		(3,679)		2,780
Total other expense		(44,501)		(42,226)		(2,275)
Income Before Income Taxes		233,044		184,812		48,232
Income tax expense		86,201		67,752		18,449
Income from Continuing Operations		146,843		117,060		29,783
Discontinued Operations, Net of Taxes
Income from discontinued operations		14		172		(158)
Gain (loss) on disposal		120		(207)		327
Income (Loss) from Discontinued Operations		134		(35)		169
Net Income	$	146,977	$	117,025	$	29,952
Diluted Earnings Per Share
Continuing operations	$	2.00	$	1.60	$	0.4
Discontinued operations		-		-		-
Net Income	$	2.00	$	1.60	$	0.4
Basic Earnings Per Share
Continuing operations	$	2.01	$	1.62	$	0.39
Discontinued operations		0.01		-		0.01
Net Income	$	2.02	$	1.62	$	0.4
Diluted Avg. Common Shares Outstanding		73,596		73,079		517
Basic Avg. Common Shares Outstanding		72,927		72,337		590
Dividends Per Share	$	0.3963	$	0.3738	$	0.0225

Selected Business Segment Data (Unaudited)

For the 3 months ending September 30, 2005 and 2004

	3rd Quarter
(in thousands, except sales price data)		2005		2004		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	85,087	$	69,745	$	15,342
Oil		28,879		24,553		4,326
Natural gas liquids		10,721		9,065		1,656
Other		1,573		818		755
Total	$	126,260	$	104,181	$	22,079
Production volumes from continuing operations
Natural gas (MMcf)		16,013		14,632		1,381
Oil (MBbl)		813		854		(41)
Natural gas liquids (Mgal)		18,109		18,158		(49)
Production volumes from continuing ops. (MMcfe)		23,480		22,349		1,131
Total sales volume (MMcfe)		23,478		22,374		1,104
Average sales price from continuing ops.
Natural gas (Mcf)	$	5.31	$	4.77	$	0.54
Oil (barrel)	$	35.51	$	28.76	$	6.75
Natural gas liquids (gallon)	$	0.59	$	0.50	$	0.09
Other data
Lease operating expense (LOE)
LOE and other	$	27,396	$	22,068	$	5,328
Production taxes		13,477		9,565		3,912
Total	$	40,873	$	31,633	$	9,240
DD&A	$	23,547	$	20,864	$	2,683
Capital expenditures	$	44,209	$	288,585	$	(244,376)
Exploration expense	$	74	$	1,807	$	(1,733)
Operating income	$	52,368	$	42,584	$	9,784
Natural Gas Distribution
Operating revenues
Residential	$	33,795	$	33,860	$	(65)
Commercial and industrial - small		21,732		18,516		3,216
Transportation		9,378		8,838		540
Other		(484)		948		(1,432)
Total	$	64,421	$	62,162	$	2,259
Gas delivery volumes (MMcf)
Residential		1,810		1,874		(64)
Commercial		1,791		1,570		221
Transportation		11,951		12,790		(839)
Total		15,552		16,234		(682)
Other data
Depreciation and amortization	$	10,668	$	9,985	$	683
Capital expenditures	$	17,863	$	11,869	$	5,994
Operating income	$	(11,025)	$	(10,130)	$	(895)
Selected Business Segment Data (Unaudited) For the 9 months ending September 30, 2005 and 2004

	Year-to-date
(in thousands, except sales price data)		2005		2004		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	247,087	$	200,363	$	46,724
Oil		83,683		70,262		13,421
Natural gas liquids		28,519		22,220		6,299
Other		4,278		2,693		1,585
Total	$	363,567	$	295,538	$	68,029
Production volume from continuing operations
Natural gas (MMcf)		45,871		42,063		3,808
Oil (MBbl)		2,480		2,558		(78)
Natural gas liquids (Mgal)		52,486		50,323		2,163
Production volumes from continuing ops. (MMcfe)		68,247		64,599		3,648
Total sales volume (MMcfe)		68,303		64,684		3,619
Average sales price from continuing ops.
Natural gas (Mcf)	$	5.39	$	4.76	$	0.63
Oil (barrel)	$	33.75	$	27.47	$	6.28
Natural gas liquids (gallon)	$	0.54	$	0.44	$	0.10
Other data
Lease operating expense (LOE)
LOE and other	$	75,511	$	58,298	$	17,213
Production taxes		35,550		26,255		9,295
Total	$	111,061	$	84,553	$	26,508
DD&A	$	67,017	$	58,965	$	8,052
Capital expenditures	$	132,718	$	359,993	$	(227,275)
Exploration expense	$	568	$	1,907	$	(1,339)
Operating income	$	156,713	$	128,321	$	28,392
Natural Gas Distribution
Operating revenues
Residential	$	276,728	$	267,164	$	9,564
Commercial and industrial - small		116,612		107,692		8,920
Transportation		32,652		29,316		3,336
Other		3,754		5,936		(2,182)
Total	$	429,746	$	410,108	$	19,638
Gas delivery volumes (MMcf)
Residential		18,992		20,743		(1,751)
Commercial		9,497		9,845		(348)
Transportation		37,634		40,571		(2,937)
Total		66,123		71,159		(5,036)
Other data
Depreciation and amortization	$	31,724	$	29,453	$	2,271
Capital expenditures	$	53,562	$	42,090	$	11,472
Operating income	$	61,009	$	56,459	$	4,550

Selected Business Segment Data (Unaudited) For the 12 months ending September 30, 2005 and 2004
	Trailing 12 Months
(in thousands, except sales price data)		2005		2004		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	323,206	$	257,731	$	65,475
Oil		111,830		92,339		19,491
Natural gas liquids		37,201		29,214		7,987
Other		5,909		2,957		2,952
Total	$	478,146	$	382,241	$	95,905
Production volumes from continuing operations
Natural gas (MMcf)		60,972		55,998		4,974
Oil (MBbl)		3,356		3,430		(74)
Natural gas liquids (Mgal)		70,371		67,445		2,926
Production volumes from continuing ops. (MMcfe)		91,161		86,212		4,949
Total sales volume (MMcfe)		91,225		86,328		4,897
Average sales price from continuing ops.
Natural gas (Mcf)	$	5.30	$	4.60	$	0.70
Oil (barrel)	$	33.32	$	26.92	$	6.40
Natural gas liquids (gallon)	$	0.53	$	0.43	$	0.10
Other data
Lease operating expense (LOE)
LOE and other	$	96,404	$	78,177	$	18,227
Production taxes		46,580		33,256		13,324
Total	$	142,984	$	111,433	$	31,551
DD&A	$	88,948	$	78,662	$	10,286
Capital expenditures	$	423,655	$	346,699	$	76,956
Exploration expense	$	761	$	1,980	$	(1,219)
Operating income	$	208,771	$	160,231	$	48,540
Natural Gas Distribution
Operating revenues
Residential	$	349,793	$	341,720	$	8,073
Commercial and industrial - small		147,606		136,775		10,831
Transportation		43,557		39,503		4,054
Other		5,422		7,675		(2,253)
Total	$	546,378	$	525,673	$	20,705
Gas delivery volumes (MMcf)
Residential		23,632		26,141		(2,509)
Commercial		11,975		12,411		(436)
Transportation		51,447		54,567		(3,120)
Total		87,054		93,119		(6,065)
Other data
Depreciation and amortization	$	42,152	$	39,092	$	3,060
Capital expenditures	$	69,680	$	57,835	$	11,845
Operating income	$	70,749	$	68,694	$	2,055