Energen (EGN) 8-K ENERGEN REPORTS 26% RISE IN 3rd QUARTER EPS

Exhibit 99.2

CONSOLIDATED STATEMENTSOF INCOME (UNAUDITED)

For the 3 months ending September 30, 2008 and 2007

	3rd Quarter
(in thousands, except per share data)	2008			2007			Change
Operating Revenues
Oil and gas operations	$	247,753		$	208,423		$	39,330
Natural gas distribution		82,452			67,599			14,853
Total operating revenues		330,205			276,022			54,183
Operating Expenses
Cost of gas		35,901			31,088			4,813
Operations and maintenance		88,168			84,857			3,311
Depreciation, depletion and amortization		47,111			41,457			5,654
Taxes, other than income taxes		27,266			18,988			8,278
Accretion expense		1,081			1,000			81
Total operating expenses		199,527			177,390			22,137
Operating Income		130,678			98,632			32,046
Other Income (Expense)
Interest expense		(10,319	)		(11,418	)		1,099
Other income		725			885			(160	)
Other expense		(2,009	)		(244	)		(1,765	)
Total other expense		(11,603	)		(10,777	)		(826	)
Income from Continuing Operations Before Income Taxes		119,075			87,855			31,220
Income tax expense		46,011			29,841			16,170
Income from Continuing Operations		73,064			58,014			15,050
Discontinued Operations, Net of Taxes
Income from discontinued operations		—			2			(2	)
Gain on disposal of discontinued operations		—			18			(18	)
Income from Discontinued Operations		—			20			(20	)
Net Income	$	73,064		$	58,034		$	15,030
Diluted Earnings Per Average Common Share
Continuing operations	$	1.01		$	0.80		$	0.21
Discontinued operations		—			—			—
Net Income	$	1.01		$	0.80		$	0.21
Basic Earnings Per Average Common Share
Continuing operations	$	1.02		$	0.81		$	0.21
Discontinued operations		—			—			—
Net Income	$	1.02		$	0.81		$	0.21
Diluted Avg. Common Shares Outstanding		72,116			72,275			(159	)
Basic Avg. Common Shares Outstanding		71,590			71,623			(33	)
Dividends Per Common Share	$	0.12		$	0.115		$	0.005

CONSOLIDATED STATEMENTSOF INCOME (UNAUDITED)

For the 9 months ending September 30, 2008 and 2007

	Year-to-date
(in thousands, except per share data)	2008			2007			Change
Operating Revenues
Oil and gas operations	$	704,428		$	605,812		$	98,616
Natural gas distribution		488,689			477,793			10,896
Total operating revenues		1,193,117			1,083,605			109,512
Operating Expenses
Cost of gas		253,159			252,584			575
Operations and maintenance		268,147			251,011			17,136
Depreciation, depletion and amortization		133,641			118,184			15,457
Taxes, other than income taxes		92,039			71,170			20,869
Accretion expense		3,181			2,921			260
Total operating expenses		750,167			695,870			54,297
Operating Income		442,950			387,735			55,215
Other Income (Expense)
Interest expense		(31,699	)		(35,655	)		3,956
Other income		1,455			2,396			(941	)
Other expense		(3,057	)		(626	)		(2,431	)
Total other expense		(33,301	)		(33,885	)		584
Income from Continuing Operations Before Income Taxes		409,649			353,850			55,799
Income tax expense		153,019			124,052			28,967
Income from Continuing Operations		256,630			229,798			26,832
Discontinued Operations, Net of Taxes
Income from discontinued operations		—			3			(3	)
Gain on disposal of discontinued operations		—			18			(18	)
Income from Discontinued Operations		—			21			(21	)
Net Income	$	256,630		$	229,819		$	26,811
Diluted Earnings Per Average Common Share
Continuing operations	$	3.56		$	3.18		$	0.38
Discontinued operations		—			—			—
Net Income	$	3.56		$	3.18		$	0.38
Basic Earnings Per Average Common Share
Continuing operations	$	3.58		$	3.21		$	0.37
Discontinued operations		—			—			—
Net Income	$	3.58		$	3.21		$	0.37
Diluted Avg. Common Shares Outstanding		72,129			72,173			(44	)
Basic Avg. Common Shares Outstanding		71,604			71,566			38
Dividends Per Common Share	$	0.36		$	0.345		$	0.015

CONSOLIDATED STATEMENTSOF INCOME (UNAUDITED)

For the 12 months ending September 30, 2008 and 2007

	Trailing 12 Months
(in thousands, except per share data)	2008			2007			Change
Operating Revenues
Oil and gas operations	$	924,208		$	826,141		$	98,067
Natural gas distribution		620,364			638,223			(17,859	)
Total operating revenues		1,544,572			1,464,364			80,208
Operating Expenses
Cost of gas		319,004			341,489			(22,485	)
Operations and maintenance		350,579			321,448			29,131
Depreciation, depletion and amortization		176,834			155,798			21,036
Taxes, other than income taxes		116,700			93,447			23,253
Accretion expense		4,208			3,849			359
Total operating expenses		967,325			916,031			51,294
Operating Income		577,247			548,333			28,914
Other Income (Expense)
Interest expense		(43,144	)		(46,497	)		3,353
Other income		1,727			1,859			(132	)
Other expense		(3,390	)		(886	)		(2,504	)
Total other expense		(44,807	)		(45,524	)		717
Income from Continuing Operations Before Income Taxes		532,440			502,809			29,631
Income tax expense		196,396			177,888			18,508
Income from Continuing Operations		336,044			324,921			11,123
Discontinued Operations, Net of Taxes
Income from discontinued operations		—			3			(3	)
Gain on disposal of discontinued operations		—			18			(18	)
Income from Discontinued Operations		—			21			(21	)
Net Income	$	336,044		$	324,942		$	11,102
Diluted Earnings Per Average Common Share
Continuing operations	$	4.66		$	4.50		$	0.16
Discontinued operations		—			—			—
Net Income	$	4.66		$	4.50		$	0.16
Basic Earnings Per Average Common Share
Continuing operations	$	4.69		$	4.54		$	0.15
Discontinued operations		—			—
Net Income	$	4.69		$	4.54		$	0.15
Diluted Avg. Common Shares Outstanding		72,141			72,170			(29	)
Basic Avg. Common Shares Outstanding		71,626			71,598			28
Dividends Per Common Share	$	0.475		$	0.455		$	0.02

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 3 months ending September 30, 2008 and 2007

	3rd Quarter
(in thousands, except sales price data)	2008			2007			Change
Oil and Gas Operations
Operating revenues
Natural gas	$	145,283		$	123,499		$	21,784
Oil		82,375			66,689			15,686
Natural gas liquids		18,404			17,486			918
Other		1,691			749			942
Total	$	247,753		$	208,423		$	39,330
Production volumes from continuing operations
Natural gas (MMcf)		17,258			16,495			763
Oil (MBbl)		1,055			1,025			30
Natural gas liquids (MMgal)		17.8			19.6			(1.8	)
Production volumes from continuing ops. (MMcfe)		26,134			25,445			689
Total production volumes (MMcfe)		26,134			25,445			689
Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	8.42		$	7.49		$	0.93
Oil (barrel)	$	78.08		$	65.06		$	13.02
Natural gas liquids (gallon)	$	1.03		$	0.89		$	0.14
Other data from continuing operations
Lease operating expense (LOE)
LOE and other	$	43,890		$	38,706		$	5,184
Production taxes		20,610			12,968			7,642
Total	$	64,500		$	51,674		$	12,826
Depreciation, depletion and amortization	$	34,849		$	29,610		$	5,239
General and administrative expense	$	10,228		$	12,844		$	(2,616	)
Capital expenditures	$	122,597		$	94,274		$	28,323
Exploration expenditures	$	906		$	1,396		$	(490	)
Operating income	$	137,270		$	112,899		$	24,371
Natural Gas Distribution
Operating revenues
Residential	$	38,347		$	35,685		$	2,662
Commercial and industrial		24,121			21,384			2,737
Transportation		10,816			10,575			241
Other		9,168			(45	)		9,213
Total	$	82,452		$	67,599		$	14,853
Gas delivery volumes (MMcf)
Residential		1,505			1,537			(32	)
Commercial and industrial		1,390			1,520			(130	)
Transportation		10,706			12,779			(2,073	)
Total		13,601			15,836			(2,235	)
Other data
Depreciation and amortization	$	12,262		$	11,847		$	415
Capital expenditures	$	15,959		$	14,023		$	1,936
Operating loss	$	(5,891	)	$	(13,673	)	$	7,782

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 9 months ending September 30, 2008 and 2007

	Year-to-date
(in thousands, except sales price data)	2008		2007		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	411,453	$	371,436	$	40,017
Oil		221,402		181,388		40,014
Natural gas liquids		55,915		49,076		6,839
Other		15,658		3,912		11,746
Total	$	704,428	$	605,812	$	98,616
Production volumes from continuing operations
Natural gas (MMcf)		50,081		47,732		2,349
Oil (MBbl)		3,005		2,898		107
Natural gas liquids (MMgal)		52.7		57.6		(4.9	)
Production volumes from continuing ops. (MMcfe)		75,639		73,350		2,289
Total production volumes (MMcfe)		75,639		73,349		2,290
Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	8.22	$	7.78	$	0.44
Oil (barrel)	$	73.69	$	62.58	$	11.11
Natural gas liquids (gallon)	$	1.06	$	0.85	$	0.21
Other data from continuing operations
Lease operating expense (LOE)
LOE and other	$	128,627	$	113,236	$	15,391
Production taxes		58,739		38,568		20,171
Total	$	187,366	$	151,804	$	35,562
Depreciation, depletion and amortization	$	97,240	$	83,083	$	14,157
General and administrative expense	$	37,755	$	39,582	$	(1,827	)
Capital expenditures	$	295,507	$	254,795	$	40,712
Exploration expenditures	$	4,215	$	1,671	$	2,544
Operating income	$	377,852	$	329,672	$	48,180
Natural Gas Distribution
Operating revenues
Residential	$	301,633	$	306,312	$	(4,679	)
Commercial and industrial		133,004		130,279		2,725
Transportation		37,825		36,509		1,316
Other		16,227		4,693		11,534
Total	$	488,689	$	477,793	$	10,896
Gas delivery volumes (MMcf)
Residential		16,247		16,303		(56	)
Commercial and industrial		8,349		8,373		(24	)
Transportation		36,267		38,396		(2,129	)
Total		60,863		63,072		(2,209	)
Other data
Depreciation and amortization	$	36,401	$	35,101	$	1,300
Capital expenditures	$	44,955	$	45,596	$	(641	)
Operating income	$	67,125	$	59,734	$	7,391

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 12 months ending September 30, 2008 and 2007

	Trailing 12 Months
(in thousands, except sales price data)	2008		2007		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	539,423	$	477,923	$	61,500
Oil		291,511		226,701		64,810
Natural gas liquids		75,462		61,182		14,280
Other		17,812		60,335		(42,523	)
Total	$	924,208	$	826,141	$	98,067
Production volumes from continuing operations
Natural gas (MMcf)		66,649		63,500		3,149
Oil (MBbl)		3,986		3,807		179
Natural gas liquids (MMgal)		72.3		76.9		(4.6	)
Production volumes from continuing ops. (MMcfe)		100,895		97,321		3,574
Total production volumes (MMcfe)		100,895		97,320		3,575
Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	8.09	$	7.53	$	0.56
Oil (barrel)	$	73.14	$	59.55	$	13.59
Natural gas liquids (gallon)	$	1.04	$	0.80	$	0.24
Other data from continuing operations
Lease operating expense (LOE)
LOE and other	$	163,671	$	147,300	$	16,371
Production taxes		73,969		49,623		24,346
Total	$	237,640	$	196,923	$	40,717
Depreciation, depletion and amortization	$	128,398	$	109,333	$	19,065
General and administrative expense	$	52,985	$	43,640	$	9,345
Capital expenditures	$	420,191	$	357,867	$	62,324
Exploration expenditures	$	5,438	$	2,340	$	3,098
Operating income	$	499,747	$	473,905	$	25,842
Natural Gas Distribution
Operating revenues
Residential	$	383,613	$	409,743	$	(26,130	)
Commercial and industrial		167,629		172,465		(4,836	)
Transportation		50,571		49,348		1,223
Other		18,551		6,667		11,884
Total	$	620,364	$	638,223	$	(17,859	)
Gas delivery volumes (MMcf)
Residential		20,609		22,032		(1,423	)
Commercial and industrial		10,569		11,040		(471	)
Transportation		49,318		51,209		(1,891	)
Total		80,496		84,281		(3,785	)
Other data
Depreciation and amortization	$	48,436	$	46,465	$	1,971
Capital expenditures	$	58,221	$	62,806	$	(4,585	)
Operating income	$	80,133	$	76,491	$	3,642