Energen Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company's total operating revenues were $288,148,000 against $374,091,000 a year ago. Operating income was $31,641,000 against $135,566,000 a year ago. Income before income taxes was $19,262,000 against $127,367,000 a year ago. Net income was $14,432,000 or $0.20 per diluted share against net income of $80,250,000 or $1.11 per diluted share a year ago. Adjusted net income (non-GAAP) was $71.0 million or $0.98 per diluted share. For the full year, the company's total operating revenues were $1,483,479,000 against $1,578,534,000 a year ago. Operating income was $448,269,000 against $493,377,000 a year ago. Income before income taxes was $405,325,000 against $457,797,000 a year ago. Net income was $259,624,000 or $3.59 per diluted share against net income of $290,807,000 or $4.04 per diluted share a year ago. Net cash provided by operating activities was $762 million against $671 million a year ago. Adjusted net income (non-GAAP) was $283 million or $3.91 per diluted share against adjusted net income of $315.6 million or $4.38 per diluted share a year ago. The company has revised its guidance ranges for consolidated after-tax cash flows and earnings in 2012 to reflect lower assumed natural gas prices and higher assumed oil prices applicable to its unhedged volumes. Revised 2012 guidance also reflects increased DD&A expense resulting largely from higher costs coupled with less-than-expected results from some of the 3rd Bone Spring wells drilled on the west side of the Pecos River in 2011. The new after-tax cash flows and earnings guidance ranges for 2012 are $764 million to $793 million and $3.15 per diluted share to $3.55 per diluted share, respectively. Guidance excludes non-cash mark-to-market impacts. Interest expenses are expected to be $2.01 million. The company's drilling and development capital investment in 2012 also has been revised upward to approximately $935 million. Net cash provided by operating activities to be in the range of $751 million to $780 million. Net income expected to be in the range of $228 million to 5257 million. Depreciation, depletion and amortization is expected to be $415 million. The company's capital investment in 2012 has been revised upward to approximately $935 million.