Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report

September 24, 2007

 

 

Commission

File

Number

  

Registrant

  

State of

Incorporation

  

IRS Employer

Identification

Number

1-7810   Energen Corporation   Alabama   63-0757759
2-38960   Alabama Gas Corporation   Alabama   63-0022000

 

605 Richard Arrington Jr. Boulevard North

Birmingham, Alabama

   35203
(Address of principal executive offices)   (Zip Code)

(205) 326-2700

(Registrant’s telephone number including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

ITEM 8.01 Other Events

On September 24, 2007, Moody’s Investors Service: (1) downgraded the debt ratings of Energen Corporation (senior unsecured) to Baa3 from Baa2; and (2) confirmed the debt ratings of Alabama Gas Corporation (senior unsecured) at A1. Both companies’ ratings outlooks were changed to “Stable” from “Rating Under Review.” In a news release announcing its decisions, Moody’s said the downgrade of Energen’s debt ratings reflected the assignment of more weight to the parent company’s increased exposure to oil and gas exploration and production operations.

The information provided in this Form 8-K is furnished to, but not filed with, the Commission.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

   ENERGEN CORPORATION
   ALABAMA GAS CORPORATION
September 26, 2007    By  

/s/ Charles W. Porter, Jr.

     Charles W. Porter, Jr.
     Vice President, Chief Financial Officer and Treasurer of Energen Corporation and Alabama Gas Corporation

 

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