EV Energy Partners Announces First Agreement to Sell Utica Shale Acres and Reports Second Quarter 2013 Results

HOUSTON, Aug. 9, 2013 /PRNewswire/ -- EV Energy Partners, L.P., (Nasdaq: EVEP) today announced that it, along with certain institutional partnerships managed by EnerVest, Ltd., has signed an agreement to divest certain acreage in Ohio's Utica Shale for $284.3 million to an undisclosed buyer. The total acreage associated with this sale includes 22,535 acres in Guernsey, Harrison and Noble counties. Of that total, EVEP is selling 4,345 acres for approximately $56 million, net to its ownership interest. EVEP will retain its overriding royalty interests in these acres. The transaction is expected to close by the end of the third quarter and is subject to customary closing conditions and purchase price adjustments.

A map depicting the acreage location is available on the Investor Relations page under Presentations on the EVEP website at http://www.evenergypartners.com. As previously disclosed, Jefferies LLC is advising EVEP as it continues to market its Utica acreage. This is a good first step in our revised Utica acreage sale process," said John B. Walker, EVEP Chairman. "The value of this sale averages $12,900 per acre. We look forward to announcing additional deals as they occur."

  http://seekingalpha.com/news-article/7304462-ev-energy-partners-ann...  

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Permalink Reply by Busy Bee on August 11, 2013 at 1:10am
The Harrison acreage looks pretty good also . There is some nice land right between the Buell well in Archer and Loudon Twp in Carrol county where I believe the most wells have been drilled so far . Just my two cents worth .
Permalink Reply by Jimmy Wilson on August 11, 2013 at 1:53am

Word on the street is, same person bought the Shell leases and Enervest HBP lands...

 

My guess the Oxford and Londonderry Township stuff fetched the 15,000 per acre...

 

 

 

 

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on August 12, 2013 at 4:04pm

Could this be the triumphant return of Aubrey McClendon to the Utica?

Permalink Reply by Paul Martinelli on August 13, 2013 at 1:20am

.......well......can you elaborate more on  "the word on the street"

Permalink Reply by Joseph-Ohio on August 12, 2013 at 3:45pm
Read a post by Jesse Drang at the Crawford County
PA group about 'Halcon and 300mm'.

Could it be relative ?
Permalink Reply by Lane Mitchell on August 12, 2013 at 4:48pm

I have a lease with EVEP. Was HBP, but because of wording in lease, I was able, with the help of an attorney, come to a settlement with them. Received word today that they are, or have plugged and pulled a well, and are on there way to my 1973 well to do the same.  The location of the first well is permitted for a horizontal well that comes under  my property. Is there any connection that they may have partnered with another to drill, considering the info in this post?

 

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