A winter storm that blasted the Permian Basin has some companies backtracking on production numbers, including Energen Corp. (NYSE: EGN).
A storm swept in on the Friday before Thanksgiving, knocking out power in Midland. Ice storms had operators dealing with freezing compressors and gas processers. The more remote a company’s assets were, the more likely they were to be effected.
Energen said production could fall below guidance of 23.4-23.8 million barrels of oil equivalent (MMBOE).
“While all areas in the Permian Basin were affected to some degree, the company’s Midland ...