EX-99.1
2
v206945_ex99-1.htm
EV
Energy Partners Announces Closing of Barnett Shale Acquisition
HOUSTON,
TX, Dec 30, 2010 (MARKETWIRE via COMTEX News Network) - EV Energy Partners,
L.P. (NASDAQ: EVEP) today announced it, along with certain institutional
partnerships managed by EnerVest, Ltd., closed the previously announced Barnett
Shale oil and natural gas property acquisition from Talon Oil & Gas
LLC. EVEP acquired a 31.02% interest in these assets for an
adjusted purchase price of $295.9 million, subject to customary post-closing
adjustments. The acquisition was funded primarily with
borrowings under its credit facility. EVEP's outstanding debt after
funding of the acquisition is $619 million on a revised borrowing base of $700
million.
EV Energy
Partners, L.P., is a master limited partnership engaged in acquiring, producing
and developing oil and natural gas properties. More information about EVEP is
available on the internet at
www.evenergypartners.com
.
(code #:
EVEP/G)
This
press release may include "forward-looking statements" as defined by the
Securities and Exchange Commission. All statements, other than statements of
historical facts, included in this press release that address activities, events
or developments that the partnership expects, believes or anticipates will or
may occur in the future are forward-looking statements. These statements are
based on certain assumptions made by the partnership based on its experience and
perception of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the circumstances.
Such statements are subject to a number of assumptions, risks and uncertainties,
many of which are beyond the control of the partnership, which may cause our
actual results to differ materially from those implied or expressed by the
forward-looking statements. These include risks relating to financial
performance and results, availability of sufficient cash flow to pay
distributions and execute our business plan, prices and demand for natural gas
and oil, our ability to replace reserves and efficiently develop our current
reserves and other important factors that could cause actual results to differ
materially from those projected as described in the Company's reports filed with
the Securities and Exchange Commission available from us at
www.evenergypartners.com
or from the Securities and Exchange Commission at
www.sec.gov
.
EV Energy
Partners, L.P.
Michael
E. Mercer
713-651-1144
Web site:
http://www.evenergypartners.com
SOURCE:
EV Energy Partners, L.P.
http://www.evenergypartners.com

EX - 99 . 1 2 v206945 _ ex99 - 1 . htm EV Energy Partners Announces Closing of Barnett Shale Acquisition HOUSTON , TX , Dec 30 , 2010 ( MARKETWIRE via COMTEX News Network ) - EV Energy Partners , L . P . ( NASDAQ : EVEP ) today announced it , along with certain institutional partnerships managed by EnerVest , Ltd . , closed the previously announced Barnett Shale oil and natural gas property acquisition from Talon Oil & Gas LLC . EVEP acquired a 31 . 02 % interest in these assets for an adjusted purchase price of $ 295.9 million , subject to customary post - closing adjustments . The acquisition was funded primarily with borrowings under its credit facility . EVEP 's outstanding debt after funding of the acquisition is $ 619 million on a revised borrowing base of $ 700 million . EV Energy Partners , L . P . , is a master limited partnership engaged in acquiring , producing and developing oil and natural gas properties . More information about EVEP is available on the internet at www.evenergypartners.com . ( code # : EVEP / G ) This press release may include " forward - looking statements " as defined by the Securities and Exchange Commission . All statements , other than statements of historical facts , included in this press release that address activities , events or developments that the partnership expects , believes or anticipates will or may occur in the future are forward - looking statements . These statements are based on certain assumptions made by the partnership based on its experience and perception of historical trends , current conditions , expected future developments and other factors it believes are appropriate in the circumstances . Such statements are subject to a number of assumptions , risks and uncertainties , many of which are beyond the control of the partnership , which may cause our actual results to differ materially from those implied or expressed by the forward - looking statements . These include risks relating to financial performance and results , availability of sufficient cash flow to pay distributions and execute our business plan , prices and demand for natural gas and oil , our ability to replace reserves and efficiently develop our current reserves and other important factors that could cause actual results to differ materially from those projected as described in the Company 's reports filed with the Securities and Exchange Commission available from us at www.evenergypartners.com or from the Securities and Exchange Commission at www.sec.gov . EV Energy Partners , L . P . Michael E . Mercer 713 - 651 - 1144 Web site : http://www.evenergypartners.com SOURCE : EV Energy Partners , L . P . http://www.evenergypartners.com