<PAGE>
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, 1995
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/
W. D. Self
Chairman of Energen Benefits
Committee and Vice President-
Human Resources
and Administration
Energen Corporation
/G. C. Ketcham/
G. C. Ketcham
Member of Energen Benefits
Committee and Executive Vice
President, CFO and Treasurer
Energen Corporation
Date June 19, 1996
<PAGE>
CONSENT OF INDEPENDENT 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 10, 1996 on our audits of the financial
statements and
supplemental schedules of Energen Corporation Employee Savings Plan as of
December 31, 1995
and 1994, and for the years then ended, which report is included in this Annual
Report on Form
11-K.
COOPERS & LYBRAND L.L.P. /s/
Birmingham, Alabama
June 17, 1996
<PAGE>
ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN
Financial Statements And Supplemental Schedules
for the years ended December 31, 1995 and 1994
Energen Corporation Employee Savings Plan
Table of Contents
Pages
Report of Independent Accountants 1
Financial Statements:
Statements Of Participants' Balances 2
Statements Of Changes In Participants' Balances 3
Notes To Financial Statements 4-8
Financial Statement Schedules:
Consolidating Statements Of Participants' Balances 9-10
Consolidating Statements Of Changes In Participants' Balances
11-12
Supplemental Schedules:
*Item 27a - Schedule of Assets Held for Investment Purposes 13
*Item 27d - Schedule of Reportable Transactions 14-15
* Refers to item number in Form 5500 (Annual Return/Report Of
Employees Benefit Plan)
for plan year ended December 31, 1995.
<PAGE>
Report of Independent Accountants
To the Energen Benefits Committee
Energen Corporation Employee Savings Plan
We have audited the financial statements and financial statement
schedules of the Energen Corporation Employee Savings Plan
listed in the accompanying table of contents, as of December 31,
1995 and 1994, 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,
1995 and 1994, 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, 1995 and 1994 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 financial statements but are
supplementary information required by the Department of Labor's
Rules and Regulations for reporting and disclosure under the
Employee Retirement Income Security Act of 1974. The
supplemental schedules have been subjected to the auditing
procedures applied in the audits of the basic financial
statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements
taken as a whole.
COOPERS & LYBRAND L.L.P. /s/
Birmingham, Alabama
June 10, 1996
<PAGE>
Energen Corporation
Employee Savings Plan
Statements of Participants' Balances
December 31, 1995 and 1994
ASSETS 1995 1994
Investment in Energen Corporation
common stock (cost $22,997,501
and $21,153,073 at
December 31, 1995 and 1994,
respectively)
$ 29,494,001 $ 25,918,659
Other investments
(cost $21,140,606 and $16,805,573
at December 31, 1995 and 1994
, respectively) 23,985,641 16,931,848
Loans to participants 3,681,119 3,258,657
Cash surrender value of
life insurance 87,204 106,733
Employer contributions receivable 551,977 529,742
Employee contributions receivable 255,280 247,591
Interest, dividends, and other
receivables 24,220 19,711
$ 58,079,442 $ 47,012,941
LIABILITIES AND PARTICIPANTS' BALANCES
Participants' balance $58,079,442 $47,012,941
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, 1995 and 1994
1995 1994
Additions:
Employer contributions $ 2,969,517 $ 2,818,136
Employee contributions 3,120,720 3,002,067
Interest and dividend income 2,784,352 2,049,255
Net appreciation in the fair value
of investments 5,767,839 141,463
Increase (decrease) in cash
surrender value (8,269) 17,785
Other receipts 34,440 14,616
14,668,599 8,043,322
Deductions:
Distributions to participants 3,589,138 1,080,491
Insurance premiums 11,260 13,960
Fees and other distributions 1,700
3,602,098 1,094,451
Net increase 11,066,501 6,948,871
Participants' balances:
Beginning of year 47,012,941 40,064,070
End of year $ 58,079,442 $ 47,012,941
The accompanying notes are an integral part of these financial
statements.
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
completing 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. The Company generally absorbs the administrative
expenses of the Plan.
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 compensation, 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 prescribed by
the Plan.
Company ESOP contributions are presently being funded each
quarter 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, 1995
was approximately $9,600 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,
disability, 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
matching 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 contributions 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 distributions 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 allocated 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, 1995, participants may elect
one of fourteen 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; the Energen Stock Fund, which invests
exclusively in the stock of Energen Corporation; 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 aggressive 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 universal life insurance policies. The number of
employees participating in each option as of December 31, 1995
and 1994 is as follows:
1995 1994
Vanguard Money Market Reserves - Prime Portfolio 1,014 1,068
Vanguard Fixed Income Securities Fund - Long-Term
Corporate Portfolio 290 293
Vanguard/Wellington Fund 610 609
Vanguard Index Trust - 500 Portfolio 804 804
Vanguard/Windsor II 401 387
Vanguard/Morgan Growth Fund 511 500
Vanguard International Growth Portfolio 343 343
Energen Stock Fund 1,533 1,565
Life Insurance Fund 21 31
Vanguard Index Small Cap Portfolio 32
Life Strategy Income Portfolio 3
Life Strategy Conservative Growth 11
Intermed-Term Corporate Bond 9
Life Strategy Moderate Growth 17
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, 1995 ranged from 9.50% to
10.00%.
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) continue 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 distributable 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 investments. The cost of securities sold is
determined at average cost. This method of determining gains and
losses 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
investments which consists of the realized gains and losses and
the unrealized appreciation (depreciation) on those investments.
3. Income Tax Status
The Plan is exempt from federal income taxes under Section
501(a) of the Internal Revenue Code. The Plan obtained its
latest determination letter on April 22, 1993, in which the
Internal Revenue Service stated that the Plan, as then designed,
was in compliance with the applicable requirements of the
Internal Revenue Code. The Plan has been amended since receiving
the determination letter. However, the Plan Administrator and
the Plan's tax counsel believe that the Plan is currently
designed and being operated in compliance with the applicable
requirements of the Internal Revenue Code. Therefore, no
provision for income taxes has been included in the Plan's
financial statements.
4. Investments
Investments at December 31, 1995 and 1994 are as follows:
1995 1994
Market Cost Market Cost
Energen Corporation
common stock $ 29,494,001 $ 22,997,501 $ 25,918,659 $ 21,153,073
Money market and
guaranteed rate
short-term
investments $ 7,398,204 $ 7,398,204 $ 6,608,562 $ 6,608,562
Mutual funds 16,587,437 13,742,402 10,323,286 10,197,011
$ 23,985,641 $ 21,140,606 $ 16,931,848 $ 16,805,573
The following is a summary of assets held in excess of 5% of the
Plan's net assets at December 31:
1995 1994
Energen Corporation common stock $ 29,494,001 $ 25,918,659
Vanguard Index 500 Portfolio $ 5,901,135 $ 3,814,186
VMMR - Prime Portfolio $ 7,398,204 $ 6,608,562
Vanguard Wellington Fund $ 2,993,129
The investments of the Plan at December 31, 1995 and 1994, as
described in the accompanying Statements of Participants'
Balances, are held by Vanguard Fiduciary Trust Company, under a
trust agreement dated October 1, 1991.<PAGE>
Financial Statement Schedules
Energen Corporation Financial Statement Schedule
Employee Savings Plan
Consolidating Statement of Participants' Balances
December 31, 1995
Energen Corporation
Employee Savings Plan
Consolidating Statement of Participants' Balances
December 31, 1995
Consolidated Elimination Energen
Assets Totals Entries Stock Fund
Energen Common Stock $29,494,001 $29,494,001
Loans to Participants 3,681,119
Other Investments 23,985,641
Employer Contributions
Receivable 551,977 551,977
Employee Contributions
Receivable 255,280 28,816
Interest and Dividends
Receivable 24,220
Due from other funds 0 ($108,932) 15,224
Cash Surrender Value-
Life Insurance 87,204
Total Assets $58,079,442 ($108,932) $30,090,018
Liabilities and Participants' Balances
Due to Other Funds 0 (108,932)
Participants' Balances 58,079,442 30,090,018
Total Liabilities and
Participants' Balance $58,079,442 ($108,932) $30,090,018
Vanguard
Life Strategy Vanguard Morgan
Growth Wellington Growth
Assets Portfolio Fund Fund
Energen Common Stock
Loans to Participants
Other Investments $255,949 $2,993,129 $2,521,219
Employer Contributions
Receivable
Employee Contributions
Receivable 2,192 33,038 25,945
Interest and Dividends
Receivable
Due from other funds 327 14,677 9,544
Cash Surrender Value-
Life Insurance
Total Assets $258,468 $3,040,844 $2,556,708
Liabilities and Participants' Balances
Due to Other Funds
Participants' Balances 258,468 3,040,844 2,556,708
Total Liabilities and
Participants' Balance $258,468 $3,040,844 $2,556,708
Vanguard
Fixed Income Vanguard
Securities VMMR Prime Index 500
Assets (continued) Fund Portfolio Portfolio
Energen Common Stock
Loans to Participants
Other Investments $806,137 $7,398,204 $5,901,135
Employer Contributions
Receivable
Employee Contributions
Receivable 10,637 56,135 54,582
Interest and Dividends
Receivable
Due from other funds 4,063 26,916 22,454
Cash Surrender Value-
Life Insurance
Total Assets $820,837 $7,481,255 $5,978,171
Liabilities and Participants' Balances
Due to Other Funds
Participants' Balances 820,837 7,481,255 5,978,171
Total Liabilities and
Participants' Balance $820,837 $7,481,255 $5,978,171
Vanguard Vanguard
Vanguard Life Strategy Life Strategy
Index Small Income Conserv.
Assets (continued) Cap Port Portfolio Growth
Energen Common Stock
Loans to Participants
Other Investments $132,236 $10,872 $291,810
Employer Contributions
Receivable
Employee Contributions
Receivable 2,225 5 738
Interest and Dividends
Receivable
Due from other funds 707 859
Cash Surrender Value-
Life Insurance
Total Assets $135,168 $10,877 $293,407
Liabilities and Participants' Balances
Due to Other Funds
Participants' Balances 135,168 10,877 293,407
Total Liabilities and
Participants' Balance $135,168 $10,877 $293,407
Vanguard Vanguard
Intermediate International
Term. Corp. Vanguard Growth
Assets (continued) Portfolio Windsor II Portfolio
Energen Common Stock
Loans to Participants
Other Investments $35,799 $1,846,881 $1,701,004
Employer Contributions
Receivable
Employee Contributions
Receivable 80 21,489 18,041
Interest and Dividends
Receivable
Due from other funds 6,983 6,703
Cash Surrender Value-
Life Insurance
Total Assets $35,879 $1,875,353 $1,725,748
Liabilities and Participants' Balances
Due to Other Funds
Participants' Balances 35,879 1,875,353 1,725,748
Total Liabilities and
Participants' Balance $35,879 $1,875,353 $1,725,748
Vanguard
Life Strategy
Mod. Growth
Assets (continued) Portfolio Loan Fund Insurance
Energen Common Stock
Loans to Participants $3,681,119
Other Investments $91,266
Employer Contributions
Receivable
Employee Contributions
Receivable 1,357
Interest and Dividends
Receivable 24,220
Due from other funds 475
Cash Surrender Value-
Life Insurance $87,204
Total Assets $93,098 $3,705,339 $87,204
Liabilities and Participants' Balances
Due to Other Funds 108,932
Participants' Balances 93,098 3,596,407 87,204
Total Liabilities and
Participants' Balance $93,098 $3,705,339 $87,204
<PAGE>
Energen Corporation
Financial Statement Schedule
Employee Savings Plan
Consolidating Statement of Participants' Balances
December 31, 1994
<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>
<PAGE>
Energen Corporation
Financial Statement Schedule
Employee Savings Plan
Consolidating Statement of Changes in Participants' Balances
for the year ended December 31, 1995
Consolidated Elimination Energen
Additions Totals Entries Stock Fund
Employer Contributions $2,969,517 $2,969,517
Employee Contributions 3,120,720 370,781
Interest and Dividend Income 2,784,352 1,390,600
Net appreciation (depreciation)
in the FV of investments 5,767,839 2,665,227
Increase (decrease) in Cash
Surrender Value (8,269)
Other Receipts 34,440 1,888
Transfers from other accounts 0 ($7,814,719) 441,022
Total Additions 14,668,599 (7,814,719) 7,839,035
Deductions
Distributions to Participants 3,589,138 1,263,521
Insurance Premiums 11,260
Fees and other Distributions 1,700
Transfers to Other accounts 0 (7,814,719) 2,979,551
Total Deductions 3,602,098 (7,814,719) 4,243,072
Net Increase/(Decrease) 11,066,501 0 3,595,963
Participants' Balance BOY 47,012,941 26,494,055
Participants' Balances EOY $58,079,442 $0 $30,090,018
Vanguard
Life Strategy Vanguard Morgan
Growth Wellington Growth
Additions (continued) Portfolio Fund Fund
Employer Contributions
Employee Contributions $22,777 $414,546 $277,081
Interest and Dividend Income 8,889 143,636 214,271
Net appreciation (depreciation)
in the FV of investments 36,516 540,993 412,164
Increase (decrease) in Cash
Surrender Value
Other Receipts 4,585 731
Transfers from other accounts 217,196 483,672 377,608
Total Additions 285,378 1,587,432 1,281,855
Deductions
Distributions to Participants 12,708 158,836 127,313
Insurance Premiums
Fees and other Distributions
Transfers to Other accounts 15,125 298,690 303,201
Total Deductions 27,833 457,526 430,514
Net Increase/(Decrease) 257,545 1,129,906 851,341
Participants' Balance BOY 923 1,910,938 1,705,367
Participants' Balances EOY $258,468 $3,040,844 $2,556,708
Vanguard
Fixed Income Vanguard
Securities VMMR Prime Index 500
Additions (continued) Fund Portfolio Portfolio
Employer Contributions
Employee Contributions $134,055 $714,905 $640,539
Interest and Dividend Income 46,982 402,797 133,707
Net appreciation (depreciation)
in the FV of investments 106,456 1,399,332
Increase (decrease) in Cash
Surrender Value
Other Receipts 2,284 18,184 2,949
Transfers from other accounts 155,620 2,098,106 968,102
Total Additions 445,397 3,233,992 3,144,629
Deductions
Distributions to Participants 28,765 1,101,530 378,292
Insurance Premiums
Fees and other Distributions
Transfers to Other accounts 102,895 1,346,353 670,680
Total Deductions 131,660 2,447,883 1,048,972
Net Increase/(Decrease) 313,737 786,109 2,095,657
Participants' Balance BOY 507,100 6,695,146 3,882,514
Participants' Balances EOY $820,837 $7,481,255 $5,978,171
Vanguard Vanguard
Vanguard Life Strategy Life Strategy
Index Small Income Conserv.
Additions (continued) Cap Port Portfolio Growth
Employer Contributions
Employee Contributions $13,730 $407 $8,693
Interest and Dividend Income 4,933 246 10,616
Net appreciation (depreciation)
in the FV of investments 9,891 224 15,963
Increase (decrease) in Cash
Surrender Value
Other Receipts
Transfers from other accounts 159,198 10,000 258,408
Total Additions 187,752 10,877 293,680
Deductions
Distributions to Participants 31,963
Insurance Premiums
Fees and other Distributions 1,700
Transfers to Other accounts 19,021 273
Total Deductions 52,684 0 273
Net Increase/(Decrease) 135,068 10,877 293,407
Participants' Balance BOY 100 0 0
Participants' Balances EOY $135,168 $10,877 $293,407
Vanguard Vanguard
Intermediate International
Term. Corp. Vanguard Growth
Additions (continued) Portfolio Windsor II Portfolio
Employer Contributions
Employee Contributions $4,598 $252,357 $247,701
Interest and Dividend Income 622 109,543 45,194
Net appreciation (depreciation)
in the FV of investments 921 388,497 172,422
Increase (decrease) in Cash
Surrender Value
Other Receipts 3,242 577
Transfers from other accounts 45,625 370,278 317,422
Total Additions 51,766 1,123,917 783,316
Deductions
Distributions to Participants 216,835 52,751
Insurance Premiums
Fees and other Distributions
Transfers to Other accounts 15,902 194,829 372,247
Total Deductions 15,902 411,664 424,998
Net Increase/(Decrease) 35,864 712,253 358,318
Participants' Balance BOY 15 1,163,100 1,367,430
Participants' Balances EOY $35,879 $1,875,353 $1,725,748
Vanguard
Life Strategy
Mod. Growth
Additions (continued) Portfolio Loan Fund Insurance
Employer Contributions
Employee Contributions $18,550
Interest and Dividend Income 3,679 $268,637
Net appreciation (depreciation)
in the FV of investments 19,233
Increase (decrease) in Cash
Surrender Value ($8,269)
Other Receipts 0
Transfers from other accounts 174,499 1,737,963
Total Additions 215,961 2,006,600 (8,269)
Deductions
Distributions to Participants 123,152 93,472
Insurance Premiums 11,260
Fees and other Distributions
Transfers to Other accounts 104 1,495,848
Total Deductions 123,256 1,589,320 11,260
Net Increase/(Decrease) 92,705 417,280 (19,529)
Participants' Balance BOY 393 3,179,127 106,733
Participants' Balances EOY $93,098 $3,596,407 $87,204
<PAGE>
Energen Corporation
Financial Statement Schedule
Employee Savings Plan
Consolidating Statement of Changes in Participants' Balances
for the year ended December 31, 1994
<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>
<PAGE>
Supplemental Schedules
Item 27a - Schedule of Assets Held for Investment Purposes
at December 31, 1995
c. Description Of
Investment Including
b. Identity Of Issue, Maturity Date, Rate Of
Borrower, Lessor, Interest, Collateral, e.Current
a Or Similar Party Par, Or Maturity Value d. Cost Value
* Energen Corporation Common stock $ 22,997,501 $29,494,001
* W.L. Morgan Growth Fund Mutual fund 2,278,167 2,521,219
* Vanguard Index 500
Portfolio Mutual fund 4,432,083 5,901,135
* VMMR-Prime Portfolio Money market fund 7,398,204 7,398,204
* Wellington Fund Mutual fund 2,519,791 2,993,128
* VFISF-Corporate Bond Fund Mutual fund 749,094 806,137
* Windsor II Fund Mutual fund 1,565,862 1,846,881
* International Growth Fund Mutual fund 1,439,573 1,701,003
* Life Strategy Growth
Portfolio Mutual fund 222,441 255,947
* Vanguard Index Small Cap
Portfolio Mutual fund 127,659 132,236
* Life Strategy Income
Portfolio Mutual fund 10,648 10,872
* Life Strategy Conservative
Growth Mutual fund 275,862 291,810
* Intermediate-Term Corporate
Bond Mutual fund 34,910 35,799
* Life Strategy Moderate Growth
Mutual fund 86,312 91,266
* Loan Fund (participant loans) 7% to 10% 3,681,119
* Cash surrender value of
life insurance 87,204 87,204
$ 44,225,311 $ 57,247,961
* Represents party-in-interest
<PAGE>
Item 27d - Schedule of Reportable Transactions
for the year ended December 31, 1995
I. Single transactions exceeding 5% of assets.
NONE
II. Series of transactions involving property other than
securities.
Schedule Attached
NOTE - Information required in Columns e, f, and h is not
applicable.
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>
Item 27d - Schedule of Reportable Transactions
for the year ended December 31, 1995
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)
*Energen
Corporation Common stock $5,135,184/68 $4,243,071/164 $3,308,765 $934,306
*VMMR Prime
Portfolio Money market $3,237,525/163 $2,447,884/174 $2,447,884 $-0-
* Represents a party-in-interest
