Energen, one of Birmingham’s largest public companies, has been acquired by Diamondback Energy for $9.2 billion

Bham Now Diamond Back
Photo of Diamond Back employees courtesy of Fuel Fix

Energen, one of Birmingham’s largest public companies, has been acquired by the Texas energy company Diamondback Energy in a deal reportedly valued at $9.2 billion and which creates the premier large cap Permian independent. The boards of each company voted unanimously to combine the two companies.  The Diamondback Energy deal comes on the heels of Energen’s sale of Alagasco two years ago to Spire and shifting its focus on oil exploration and production.

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Friday night fracking: Energen expects to expand

Energen Plaza in Birmingham (yeah, it’s that building!) Rehosted from Flickr

You’d be forgiven for not knowing what Energen is.  The Birmingham-based oil drilling company doesn’t exactly show off.  But today, the “exploration and production” company announced a plan to significantly expand their American drilling operations in a conference call with slides available here.

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