Deal Details
acquisition of oil and natural gas producing assets
Summary
Baird served as financial advisor and provided a fairness opinion to the Conflicts Committee of the Board of Directors of the General Partner of EV Energy Partners, L.P.
About
EV Energy Partners, L.P. (“EV Energy Partners” or the “Partnership”) (NASDAQ: EVEP) recently announced that it has entered into agreements with certain EnerVest Institutional Partnerships, which are affiliated with EnerVest, Ltd. (“EnerVest”), to acquire oil and natural gas producing assets for cash consideration of $259 million. The acquired assets, which represent combined estimated net proved reserves of 302 billion cubic feet of natural gas equivalents (Bcfe), are located in the Appalachian Basin, San Juan Basin, Michigan and Austin Chalk formation of South Texas.EV Energy Partners is a master limited partnership engaged in acquiring, producing and developing oil and natural gas properties. The Partnership’s oil and natural gas properties are located in the Barnett Shale, the Appalachian Basin, the Mid-Continent areas in Oklahoma, Texas, Arkansas, Kansas and Louisiana, the Monroe Field in Northern Louisiana, the San Juan Basin, Michigan, Central Texas and the Permian Basin. The Partnership is headquartered in Houston, Texas.
EnerVest is a Texas limited partnership formed in 1992 to acquire, explore, develop and produce oil and natural gas properties in partnership with institutional investors. EnerVest is one of the 25 largest oil and natural gas companies in the United States, with more than 36,000 wells across 15 states, 6.0 million acres under lease and $11.0 billion in assets under management. EnerVest is headquartered in Houston, Texas.
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- Date
- September 2015
- Company
- EV Energy Partners, L.P.
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
- Acquiror Geography
- North America
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