Energen Resources, the production unit of Energen Corp., detailed its extensive supply arrangements with Williams and Dynegy on Wednesday in response to downgrades by credit rating agencies of the two energy marketers. Energen said both companies are current in their monthly payments for a total of about 1.6 Bcf per month on gas and gas liquids production..

Williams affiliates are under contract to purchase 0.8 Bcf per month of Energen Resources’ net natural gas production through October 2002 and an estimated 0.4 Bcfe of Energen’s gas liquids production through May 2004. Dynegy affiliates are under contract to purchase 0.4 Bcf per month of Energen’s gas production through March 2003. Outstanding invoices for June production, which are due and payable later this month, total $4 million for Williams and $1.5 million for Dynegy.

Energen said it has had a long-standing relationship with Williams in the San Juan Basin and with Dynegy in the Black Warrior Basin and is currently delivering to both parties under existing sales contracts.

Birmingham, AL-based Energen Corp. is a diversified energy holding company with natural gas distribution in central and north Alabama and oil and gas production onshore in North America.

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