The Black Warrior Basin holdings are believed to hold proved reserves of 97 billion cubic feet, according to the Birmingham-based firm.
The undisclosed new owner will also take over associated third-party operation agreements, the company said.
The deal is due to close in early October with an effective date of 1 July.
By contrast, Energen has been expanding its holdings and investments in the Permian basin in Texas, including a $65.8
