SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K ANNUAL REPORT
Pursuant to Section 15(d) of
the Securities Exchange Act of 1934
[$250.00 fee required Reg 240.13a(1)]
For the fiscal year ended December 31, 1994
Commission File No. 33-46641
ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN
(Full title of the plan)
ENERGEN CORPORATION
2101 Sixth Avenue North
Birmingham, Alabama 35203
Financial Statements and Exhibits. The following financial
statements and exhibits are filed as a part of this annual
report:
(a) The financial statements and schedules listed in the
accompanying Indexes to Financial Statements and Financial
Statement Schedules.
(b) Consent of Coopers & Lybrand
Pursuant to the requirements of the Securities Exchange Act of
1934, the trustees (or other persons who administer the Plan)
have duly caused this annual report to be signed by the
undersigned thereunto duly authorized.
ENERGEN CORPORATION
EMPLOYEE SAVINGS PLAN
W. D. Self
Chairman of Energen Benefits
Committee and Vice President -
Human Resources -
Energen Corporation
Date June 22, 1995
James T. McManus
Member of Energen Benefits
Committee and Vice President -
Finance and Corporate
Development
Energen Corporation
CONSENT OF CERTIFIED PUBLIC ACCOUNTANTS
We consent to the incorporation by reference in the registration statement on
Form S-8 (file No. 33-46641) of our report dated June 9, 1995 on our audits of
the financial statements and supplemental schedules of Energen Corporation
Employee Savings Plan as of December 31, 1994 and 1993, and for the years then
ended, which report is included in this Annual Report on Form 11-K.
COOPER & LYBRAND
Birmingham, Alabama
June 15, 1995
ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN
Financial Statements And Supplemental Schedules
for the years ended December 31, 1994 and 1993
<PAGE>
ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES
Page
Report Of Independent Accountants. . . . . . . . . . . . . . . .1
Financial Statements:
Statements Of Participants' Balances at December 31,
1994 and 1993. . . . . . . . . . . . . . . . . . . . . . . .2
Statements Of Changes In Participants' Balances for
the years ended December 31, 1994 and 1993 . . . . . . . . .3
Notes To Financial Statements. . . . . . . . . . . . . . . .4-7
Financial Statement Schedules:
Consolidating Statements Of Participants' Balances
at December 31, 1994 and 1993. . . . . . . . . . . . . . .8-9
Consolidating Statements Of Changes In Participants'
Balances for the years ended December 31, 1994
and 1993 . . . . . . . . . . . . . . . . . . . . . . . . 10-11
Supplemental Schedules:
*Item 27(a) Schedule of Assets Held for Investment
Purposes at December 31, 1994. . . . . . . . . . . . . . 12
*Item 27(d) Schedule of Reportable Transactions
for the Year Ended December 31, 1994 . . . . . . . . . . 13-14
*Refers to item number in Form 5500 (Annual
Return/Report Of Employees Benefit Plan) for
plan year ended December 31, 1994.
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Energen Benefits Committee
Energen Corporation Employee Savings Plan
We have audited financial statements and financial statement
schedules of the Energen Corporation Employee Savings Plan listed
in the accompanying table of contents, as of
December 31, 1994 and 1993, and for the
years then ended. These financial statements and financial
statement schedules are the responsibility of the Energen Benefits Committee.
Our responsibility is to express an opinion on these financial
statements and financial statement schedules based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of Energen
Corporation Employee Savings Plan as of December 31, 1994 and 1993,
and the changes in participants' balances for the years then ended,
in conformity with generally accepted accounting principles. In
addition, in our opinion, the financial statement schedules as of
and for the years ended December 31, 1994 and 1993 referred to above,
when considered in relation to the basic financial statements taken
as a whole, present fairly, in all material respects, the
information required to be included therein.
Our audits were made for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental
schedules listed in the index on page 1 are presented for the
purpose of additional analysis and are not a required part of the basic fi-
nancial statements but are supplementary information required by
the Department of Labor's Rules and Regulations for reporting and dis-
closure under the Employee Retirement Income Security Act of 1974.
The supplemental schedules have been subjected to the auditing pro-
cedures applied in the audits of the basic financial statements
and, in our opinion, are fairly stated in all material respects in rela-
tion to the basic financial statements taken as a whole.
Birmingham, Alabama
June 9, 1995
<PAGE>
ENERGEN CORPORATION
EMPLOYEE SAVINGS PLAN
STATEMENTS OF PARTICIPANTS' BALANCES
December 31, 1994 and 1993
1994 1993
ASSETS
Investment in Energen Corporation
common stock (cost $21,153,073 and
$16,983,058 at December 31, 1994 and
1993, respectively) $25,918,659 $21,329,105
Other investments (cost $16,805,573 and
$14,453,875 at December 31, 1994 and
1993, respectively) 16,931,848 15,018,155
Loans to participants 3,258,657 2,885,950
Cash surrender value of life
insurance 106,733 102,908
Employer contributions receivable 529,742 471,756
Employee contributions receivable 247,591 238,770
Interest, dividends and other
receivables 19,711 17,426
$47,012,941 $40,064,070
LIABILITIES AND PARTICIPANTS' BALANCES
Participants' balances $47,012,941 $40,064,070
$47,012,941 $40,064,070
The accompanying notes are an integral part of these financial statements.
<PAGE>
ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN
STATEMENTS OF CHANGES IN PARTICIPANTS' BALANCES
for the years ended December 31, 1994 and 1993
1994 1993
Additions:
Employer contributions $ 2,818,136 $ 2,628,817
Employee contributions 3,002,067 2,887,713
Interest and dividend income 2,049,255 1,796,930
Net appreciation in the fair
value of investments 141,463 2,934,825
Increase in cash surrender value 17,785 28,944
Other receipts 14,616 4,185
8,043,322 10,281,414
Deductions:
Distributions to participants 1,080,491 1,188,372
Insurance premiums 13,960 15,267
1,094,451 1,203,639
Net increase 6,948,871 9,077,775
Participants' balances:
Beginning of year 40,064,070 30,986,295
End of year $47,012,941 $40,064,070
The accompanying notes are an integral part of these financial statements.
<PAGE>
ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1. DESCRIPTION OF PLAN
General - The Energen Corporation Employee Savings Plan is a
defined contribution plan covering substantially all employees of
Energen Corporation, Alabama Gas Corporation, Taurus Exploration,
Inc., Alagasco Pipeline Company, Taurus Exploration USA, Inc.,
EGN Services, Inc., and Basin Pipeline Corporation,
(collectively referred to as the Company).
Employees are eligible to participate in the Plan after complet-
ing six months of service as defined in the Plan. Individual
accounts are maintained for each participant in the Plan and are
adjusted for allocation of assets purchased with the
Company Employee Stock Ownership Plan (ESOP) contribution,
employee contributions, Company matching contribution,
and investment income. An administrative committee and a trustee
are appointed by the Company to administer the Plan and trust,
respectively.
Contributions - Contributions to the Plan consist of employee
elective contributions, Company matching and ESOP
contributions, and rollover contributions.
Employee elective contributions, if any, are made in an amount
equal to any whole percentage of the employee's compensation,
generally not to exceed 15% thereof and not less than 2% thereof.
Company matching contributions are presently being funded at the
end of each month. This contribution is currently 50% of each
employee's elective contribution up to 6% of the employee's com-
pensation, such contribution level being at the discretion of the
board of directors of the Company. Contributions by highly
compensated employees are subject to certain limitations as pre-
scribed by the Plan.
Company ESOP contributions are presently being funded each quar-
ter and are at the discretion of the board of directors. The
formula used to allocate the ESOP contribution is determined
annually. Current contribution levels range from 2.25% to 7% of
the employee's annual compensation, based on the employee's age.
The amount of forfeited nonvested accounts at December 31, 1994
was approximately $8,600 and was held primarily in the Vanguard
Money Market Reserve-Prime Portfolio account. The Company plans to
use all of this amount to reduce its future contributions to the
Plan.
Vesting - Each participant has a fully vested and nonforfeitable
right in any elective and rollover contributions and earnings
thereon. A participant's matching and ESOP contribution accounts
become fully vested upon the earlier of normal retirement, dis-
ability, death, termination of the Plan, three years of service
as a plan member, or five years of service.
Individual Accounts - Each participant has an individual account
which is divided into an elective contribution account, a match-
ing contribution account, an ESOP contribution account, and a
rollover account. Purchases of stock are allocated to individual
participants' elective, matching, and ESOP accounts as set forth
in the Plan. Stock purchased with the Company matching contri-
butions is allocated based on the ratio of a participant's
compensation, as defined in the Plan, for the plan year to total
compensation of all such participants for the plan year. Stock
purchased with cash dividends or with the proceeds of other dis-
tributions from the Plan's assets and stock received in kind by
the trustee as a stock split, dividend, or other distribution of
stock so held is allocated based on the ratio of a participant's
account balance to the total account balances of all participants
as of the record dates of the dividend or distribution. Cash
dividends attributable to shares which have not yet been allo-
cated to individual participants' accounts shall be used to
purchase shares for allocation in the same manner that shares
purchased with the Company matching contributions are allocated.
Investments - As of December 31, 1994,
participants may elect one of eight options: The
Vanguard Money Market Reserves - Prime Portfolio, a money market
fund with a portfolio of high quality money market instruments
that mature in one year or less; the Vanguard/Wellington Fund,
a balanced fund which invests in bonds and common stocks; the
Vanguard Index Trust-500 Portfolio, a growth and income fund
that invests in all of the stocks included in the Standard and
Poor's 500 Index in approximately the same proportions as they are
represented in the S&P 500 Index; the Vanguard/Windsor II, a growth
and income fund which invests in common stocks; the Vanguard/Morgan Growth
Fund, a growth fund which invests in a portfolio of common stocks;
the Vanguard International Growth Portfolio, a growth fund which
invests in the common stocks of companies based outside of the
United States; the Vanguard Fixed Income Securities Fund - Long-Term
Corporate Portfolio, an income fund which invests in a diversified
portfolio of long-term investment-grade bonds; and the Energen Stock
Fund, which invests exclusively in the stock of Energen Corporation.
Beginning January 1, 1995, the following six options were also available:
the Vanguard Fixed Income Securities Fund - Intermediate-Term Corporate
Portfolio, an income fund which invests in corporate bonds, U.S.
Treasury and Government agency securities that mature in five to twelve
years; the Vanguard Index Trust - Small Capitalization Stock Portfolio,
an aggresssive growth stock fund which invests in stocks from the Russell
2000 Index and is constructed so that, in the aggregate, the Portfolio's
industry capitalization and fundamental characteristics resemble
those of the Russell 2000; the Vanguard Life Strategy Funds - Growth
Portfolio, Vanguard Life Strategy Funds - Moderate Growth Portfolio,
Vanguard Life Strategy Funds - Conservative Growth Portfolio, and Vanguard
Life Strategy Funds - The Income Portfolio, funds which invest in carefully
selected portfolios of Vanguard Mutual Funds.
Prior to December 31, 1986, there was a life insurance option available
to participants of the Plan. No new contracts may be purchased under
this option; however, participants that were enrolled in this
option may still contribute to this fund which invests in uni-
versal life insurance policies. The number of employees
participating in each option as of December 31, 1994 and 1993 is
as follows:
1994 1993
Vanguard Money Market Reserves -
Prime Portfolio 1,068 1,121
Vanguard Fixed Income Securities Fund -
Long-Term Corporate Portfolio 293 282
Vanguard/Wellington Fund 609 585
Vanguard Index Trust - 500 Portfolio 804 794
Vanguard/Windsor II 387 358
Vanguard/Morgan Growth Fund 500 512
Vanguard International Growth Portfolio 343 291
Energen Stock Fund 1,565 1,542
Life Insurance Fund 31 31
Loans - Participants may borrow from their vested individual
accounts up to amounts prescribed in the Plan. The interest
rates on these loans at December 31, 1994 ranged from 7% to
8.75%.
Termination Of The Plan - While the Company has not expressed any
intent to terminate the Plan or suspend contributions, it may do
so at any time and for any reason. In the event of termination,
the committee may, with the Company's approval either (1) con-
tinue the Trust Fund either through the existing trust agreement
or through successor funding media or (2) terminate the Trust
Fund, pay all expenses, and direct the payment of benefits,
either in the form of lump-sum distributions, transfer to another
qualified plan, or any form selected by the committee. Any
assets attributable to unallocated financed shares that remain
after all vested account balances under the Plan have been paid
will be returned to the employer. Distribution to a member of
his elective contribution account which is not otherwise distri-
butable on account of his separation from service, attainment of
age 59-1/2, or hardship will be made only where no successor to
the Plan is established.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis Of Financial Statements - The financial statements of the
Plan are maintained on the accrual basis and have been prepared
in conformity with generally accepted accounting principles.
Investment Valuation - The investment in common stock of Energen
Corporation is stated at quoted market value as determined by the
latest sales price thereof reported by the principal securities
exchange on which the stock is traded on the last business day of
the year. Purchases of securities are recorded on the trade
dates. The investment in money market instruments represents the
value of contributions made, adjusted for investment income,
benefit payments, and administrative expenses. Investments in
mutual funds are carried at the fair value of funds' shares,
which is based upon the market value of the underlying invest-
ments. The cost of securities sold is determined at average
cost. This method of determining gains and loses on the sales of
investments is in accordance with generally accepted accounting
principles, which differs from the current value method used in
the preparation of the Plan's Form 5500.
The Plan presents in the statement of changes in net assets the
net appreciation (depreciation) in the fair value of its invest-
ments which consists of the realized gains and losses and the
unrealized appreciation (depreciation) on those investments.
3. INCOME TAX STATUS
The Internal Revenue Service has informed the plan administrator
that the Plan is qualified under Section 401(a) of the Internal
Revenue Code (the Code) and is, therefore, exempt from federal
income taxes under the provisions of Section 501(a) of the Code.
4. INVESTMENTS
Investments at December 31, 1994 and 1993 are as follows:
1994 1993
Market Cost Market Cost
Energen Corporation
common stock $25,918,659 $21,153,073 $21,329,105 $16,983,058
Money market and
guaranteed rate
short-term
investments $6,608,562 $6,608,562 $6,511,415 $6,511,415
Mutual funds 10,323,286 10,197,011 8,506,740 7,942,460
$16,931,848 $16,805,573 $15,018,155 $14,453,875
The following is a summary of assets held in excess of 5% of the
Plan's net assets at December 31:
1994 1993
Energen Corporation common stock $25,918,659 $21,329,105
Vanguard Index Trust Fund 3,814,186 3,179,327
VMMR - Prime Portfolio 6,608,562 6,511,415
The investments of the Plan at December 31, 1994 and 1993, as
described in the accompanying Statements of Participants' Bal-
ances, are held by Vanguard Fiduciary Trust Company, under a
trust agreement dated October 1, 1991.
<PAGE>
FINANCIAL STATEMENT SCHEDULES
________
<PAGE>
<TABLE>
ENERGEN CORPORATION
EMPLOYEE SAVINGS PLAN
CONSOLIDATING STATEMENT OF PARTICIPANTS' BALANCES
December 31, 1994
<CAPTION>
Vanguard Star Vanguard Vanguard Long Term
Consolidated Elimination Energen Growth Wellington Morgan Growth Corporate
Assets Totals Entries Stock Fund Portfolio Fund Fund Bond
<S> <C> <C> <C> <C> <C> <C> <C>
Investment in Energen
Corporation common st$25,918,659 $25,918,659
Other investments 16,931,848 $1,864,198 $1,676,267 $492,053
Loans to participants 3,258,657
Cash surrender value of 106,733
life insurance
Employer contributions
receivable 529,742 529,742
Employee contributions
receivable 247,591 31,077 $923 33,260 21,284 10,900
Interest, dividends and 0
other receivables 19,711
Due from other funds 0 (99,241) 14,577 13,480 7,816 4,147
------------ -----------------------------------------------------------------------------
$47,012,941 (99,241) $26,494,055 $923 $1,910,938 $1,705,367 $507,100
Total Assets ============ =============================================================================
Liabilities and Participants' Balances
Due to Other funds $0 ($99,241)
Participants' Balances 47,012,941 $26,494,055 $923 $1,910,938 $1,705,367 $507,100
------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Liabilities and
Participants' Balances$47,012,941 ($99,241) $26,494,055 $923 $1,910,938 $1,705,367 $507,100
============ ============ ============ ============ ============ ============ ============
(CONTINUED)
Vanguard Vanguard Intermediate Internatl. Vanguard Star
Assets VMMR Prime Index 500 Index Small Term Corp. Vanguard Growth Mod. Growth
Portfolio Portfolio Cap. Port. Bond Windsor II Portfolio Portfolio
Investment in Energen
Corporation common stock
Other investments $6,608,563 $3,814,185 $1,136,715 $1,339,867
Loans to participants
Cash surrender value of
life insurance
Employer contributions
receivable
Employee contributions
receivable 59,977 49,152 $91 $15 19,783 20,736 $393
Interest, dividends and
other receivables
Due from other funds 26,606 19,177 9 6,602 6,827
------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Assets $6,695,146 $3,882,514 $100 $15 $1,163,100 $1,367,430 $393
============ ============ ============ ============ ============ ============ ============
Liabilities and Participants' Balances
Due to Other funds
Participants' Balances $6,695,146 $3,882,514 $100 $15 $1,163,100 $1,367,430 $393
------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Liabilities and
Participants' Balances $6,695,146 $3,882,514 $100 $15 $1,163,100 $1,367,430 $393
============ ============ ============ ============ ============ ============ ============
(CONTINUED)
Assets
Loan Fund Insurance
Investment in Energen
Corporation common stock
Other investments
Loans to participants $3,258,657
Cash surrender value of $106,733
life insurance
Employer contributions
receivable
Employee contributions
receivable
Interest, dividends and
other receivables 19,711
Due from other funds
------------ ------------
Total Assets $3,278,368 $106,733
============ ============
Liabilities and Participants' Balances
Due to Other funds $99,241
Participants' Balances 3,179,127 $106,733
------------ ------------
Total Liabilities and
Participants' Balances $3,278,368 $106,733
============ ============
</TABLE>
<TABLE>
ENERGEN CORPORATION
EMPLOYEE SAVINGS PLAN
CONSOLIDATING STATEMENT OF PARTICIPANTS' BALANCES
December 31, 1993
<CAPTION>
Vanguard
Vanguard Morgan Long Term
Consolidated Elimination Energen Wellington Growth Corporate VMMR Prime
Assets Totals Entries Stock Fund Fund Fund Bond Portfolio
<S> <C> <C> <C> <C> <C> <C> <C>
Investment in Energen
Corporation common st$21,329,105 $21,329,105
Other investments 15,018,155 $1,480,226 $1,525,308 $396,863 $6,511,415
Loans to participants 2,885,950
Cash surrender value of
life insurance 102,908
Employer contributions
receivable 471,756 $471,756
Employee contributions
receivable 238,770 27,036 33,779 23,324 10,389 63,237
Interest, dividends and
other receivables 17,426
Due from other funds (86,405) 9,844 13,106 7,333 3,778 25,746
------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Assets $40,064,070 $21,242,700 $508,636 $1,527,111 $1,555,965 $411,030 $6,600,398
============ ============ ============ ============ ============ ============ ============
Liabilities and Participants' Balances
Due to Other funds $0 ($86,405)
Participants' Balances 40,064,070 $21,837,741 $1,527,111 $1,555,965 $411,030 $6,600,398
------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Liabilities and
Participants' Balances$40,064,070 ($86,405) $21,837,741 $1,527,111 $1,555,965 $411,030 $6,600,398
============ ============ ============ ============ ============ ============ ============
(CONTINUED)
Vanguard Internatl.
Index 500 Vanguard Growth
Assets Portfolio Windsor II Portfolio Loan Fund Insurance
Investment in Energen
Corporation common stock
Other investments $3,179,327 $932,049 $992,967
Loans to participants $2,885,950
Cash surrender value of
life insurance $102,908
Employer contributions
receivable
Employee contributions
receivable 45,885 20,360 14,760
Interest, dividends and
other receivables 17,426
Due from other funds 16,138 6,206 4,254
------------ ------------ ------------ ------------ ------------
Total Assets $3,241,350 $958,615 $1,011,981 $2,903,376 $102,908
============ ============ ============ ============ ============
Liabilities and Participants' Balances
Due to Other funds $86,405
Participants' Balances $3,241,350 $958,615 $1,011,981 2,816,971 $102,908
------------ ------------ ------------ ------------ ------------
Total Liabilities and
Participants' Balances $3,241,350 $958,615 $1,011,981 $2,903,376 $102,908
============ ============ ============ ============ ============
</TABLE>
<TABLE>
ENERGEN CORPORATION
EMPLOYEE SAVINGS PLAN
CONSOLIDATING STATEMENT OF CHANGES IN PARTICIPANTS' BALANCES
for the year ended December 31, 1994
<CAPTION>
Vanguard Sta Vanguard Vanguard Long Term
ConsolidatedElimination Energen Growth Wellington Morgan Growt Corporate
ADDITIONS Totals Entries Stock Fund Portfolio Fund Fund Bond
<S> <C> <C> <C> <C> <C> <C> <C>
Employer Contributions $2,818,136 $2,835,736
Employee Contributions 3,002,067 359,904 $923 $418,341 $278,924 $130,576
Interest and Dividend
income 2,049,255 1,195,465 79,445 63,252 35,025
Net appreciation (depreciation)
in the fair value of inves 141,463 537,466 (88,081) (88,383) (56,521)
Increase in cash surrender va 17,785
Other Receipts 14,616 4,196 3,802 1,658
Transfers from other funds 0 (4,207,262) 385,495 302,203 170,588 68,804
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total additions 8,043,322 (4,207,262) 5,318,262 923 715,710 424,381 179,542
DEDUCTIONS
Distributions to Participants 1,080,491 411,014 49,841 43,215 3,271
Insurance Premiums 13,960
Fees and other Distributions 0
Transfers to other funds 0 (4,207,262) 250,934 282,042 231,764 80,201
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total deductions 1,094,451 (4,207,262) 661,948 0 331,883 274,979 83,472
Net increase (decrease) 6,948,871 0 4,656,314 923 383,827 149,402 96,070
Participants' Balances:
Beginning of year 40,064,070 0 21,837,741 0 1,527,111 1,555,965 411,030
End of year 47,012,941 $0 26,494,055 $923 $1,910,938 $1,705,367 $507,100
=========== =========== =========== =========== =========== =========== ===========
(CONTINUED)
Vanguard Vanguard Intermediate Internatl. Vanguard Star
VMMR Prime Index 500 Index Small Term. Corp. Vanguard Growth Mod. Growth
ADDITIONS Portfolio Portfolio Cap. Port. Bond Windsor II Portfolio Portfolio
Employer Contributions ($17,600)
Employee Contributions 737,916 $596,225 $91 $15 $249,539 $229,220 $393
Interest and Dividend
income 259,036 113,186 68,712 17,792
Net appreciation (depreciation)
in the fair value of investments (65,408) (81,933) (15,677)
Increase in cash surrender values
Other Receipts 1,789 1,081 828 1,264
Transfers from other funds 699,824 453,614 9 199,459 315,224
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total additions 1,680,965 1,098,698 100 15 436,605 547,823 393
DEDUCTIONS
Distributions to Participants 398,689 92,660 10,017 19,355
Insurance Premiums
Fees and other Distributions
Transfers to other funds 1,187,528 364,874 222,103 173,019
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total deductions 1,586,217 457,534 0 0 232,120 192,374 0
Net increase (decrease) 94,748 641,164 100 15 204,485 355,449 393
Participants' Balances:
Beginning of year 6,600,398 3,241,350 0 0 958,615 1,011,981 0
End of year $6,695,146 $3,882,514 $100 $15 $1,163,100 $1,367,430 $393
=========== =========== =========== =========== =========== =========== ===========
(CONTINUED)
ADDITIONS Loan Fund Insurance
Employer Contributions
Employee Contributions
Interest and Dividend
income $217,342
Net appreciation (depreciation)
in the fair value of investments
Increase in cash surrender values $17,785
Other Receipts (2)
Transfers from other funds 1,612,042
----------- -----------
Total additions 1,829,382 17,785
DEDUCTIONS
Distributions to Participants 52,429
Insurance Premiums 13,960
Fees and other Distributions
Transfers to other funds 1,414,797
----------- -----------
Total deductions 1,467,226 13,960
Net increase (decrease) 362,156 3,825
Participants' Balances:
Beginning of year 2,816,971 102,908
End of year $3,179,127 $106,733
=========== ===========
</TABLE>
<TABLE>
ENERGEN CORPORATION
EMPLOYEE SAVINGS PLAN
CONSOLIDATING STATEMENT OF CHANGES IN PARTICIPANTS' BALANCES
for the year ended December 31, 1993
<CAPTION>
Vanguard Vanguard Long Term
ConsolidatedElimination Energen Wellington Morgan Growt Corporate VMMR Prime
ADDITIONS Totals Entries Stock Fund Fund Fund Bond Portfolio
<S> <C> <C> <C> <C> <C> <C> <C>
Employer Contributions $2,628,817 $2,628,817
Employee Contributions 2,887,713 321,408 $404,014 $281,385 $125,429 $796,372
Interest and Dividend
income 1,796,930 973,899 83,302 172,162 33,111 196,808
Net appreciation (depreciation)
in the fair value of inves 2,934,825 2,500,696 62,627 (71,763) 8,077
Increase in cash surrender va 28,944
Other Receipts 4,185 117 1,221
Transfers from other funds 0 (5,377,765) 556,465 401,322 231,776 93,133 1,190,285
Total additions 10,281,414 (5,377,765) 6,981,402 951,265 613,560 260,971 2,183,465
DEDUCTIONS
Distributions to Participants 1,188,372 576,439 49,341 41,205 15,446 342,908
Insurance Premiums 15,267
Transfers to other funds 0 (5,377,765) 810,726 242,186 246,074 118,832 1,894,465
Total deductions 1,203,639 (5,377,765) 1,387,165 291,527 287,279 134,278 2,237,373
Net increase (decrease) 9,077,775 0 5,594,237 659,738 326,281 126,693 (53,908)
Participants' Balances:
Beginning of year 30,986,295 16,243,504 867,373 1,229,684 284,337 6,654,306
End of year 40,064,070 $0 21,837,741 1,527,111 1,555,965 411,030 6,600,398
(CONTINUED)
Vanguard Internatl.
Index 500 Vanguard Growth
ADDITIONS Portfolio Windsor II Portfolio Loan Fund Insurance
Employer Contributions
Employee Contributions $572,403 $231,813 $154,889
Interest and Dividend
income 80,984 51,349 8,019 $197,296
Net appreciation (depreciation)
in the fair value of inves 195,162 34,298 205,728
Increase in cash surrender values $28,944
Other Receipts 2,442 407 (2)
Transfers from other funds 377,872 400,147 454,695 1,672,070
Total additions 1,226,421 720,049 823,738 1,869,364 28,944
DEDUCTIONS
Distributions to Participants 96,047 26,828 12,941 27,217
Insurance Premiums 15,267
Transfers to other funds 588,376 184,333 78,627 1,214,146
Total deductions 684,423 211,161 91,568 1,241,363 15,267
Net increase (decrease) 541,998 508,888 732,170 628,001 13,677
Participants' Balances:
Beginning of year 2,699,352 449,727 279,811 2,188,970 89,231
End of year $3,241,350 $958,615 $1,011,981 $2,816,971 $102,908
=========== =========== =========== =========== ===========
</TABLE>
<PAGE>
SUPPLEMENTAL SCHEDULES
<PAGE>
ITEM 27(a) SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AT
DECEMBER 31, 1994
c. Description Of Investment
b. Identity Of Issue, Including Maturity Date,
Borrower, Lessor Rate Of Interest, Collateral, e.Current
a. Or Similar Party Par Or Maturity Value d. Cost Value
* Energen Corporation Common stock $21,153,073 $25,918,659
* W. L. Morgan Growth Fund Mutual fund 1,804,382 1,676,266
* Vanguard Index 500 Portfolio Mutual fund 3,578,020 3,814,186
* VMMR-Prime Portfolio Money market fund 6,608,562 6,608,562
* Wellington Fund Mutual fund 1,889,717 1,864,198
* VFISF-Corporate Bond Fund Mutual fund 537,149 492,054
* Windsor II Fund Mutual fund 1,187,862 1,136,715
* International Growth Fund Mutual fund 1,199,881 1,339,867
* Loan Fund (participant loans) 7% to 8.75% 3,258,657 3,258,657
* Cash surrender value of
life insurance 106,733 106,733
$41,324,036 $46,215,897
* Represents party-in-interest
<PAGE>
ITEM 27(d) SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED
DECEMBER 31, 1994
I. Single transactions exceeding 5% of assets.
NONE
II. Series of transactions involving property other than
securities.
NONE
III. Series of transactions of same issue exceeding 5% of
assets.
Schedule Attached
NOTE - Information required in Columns e, f, and h is not
applicable.
IV. Transactions in conjunction with same person involved in
reportable single transactions.
NONE
<PAGE>
<TABLE>
ITEM 27(d) SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR
ENDED DECEMBER 31, 1994
a. Identity Of b. Description c. Purchases d. Sales g. Cost Of i. Net Gain
Party Involved Of Asset Price Number Price Number Asset (Loss)
<S> <C> <C> <C> <C> <C> <C> <C>
*Energen Corporation Common stock $4,714,039 86 $661,949 95 $544,025 $117,924
*Represents a party-in-interest.
</TABLE>
