EV Energy Partners selling assets in Ohio

EV Energy Partners LP, along with certain institutional partnerships managed by EnerVest Ltd., agreed to divest acreage in the Utica shale in Ohio for $284 million to an undisclosed buyer.

The sale includes 22,535 acres in Guernsey, Harrison, and Noble counties, said Houston-based EVEP. A map showing the acreage is available on EVEP’s web site.

Of the total acreage, EVEP is selling 4,345 acres for $56 million, net to its ownership interest. EVEP will retain royalty interests in these acres. The transaction is expected to close by the end of the third quarter.

“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/acre. We look forward to announcing additional deals” as EVEP continues to market its Utica acreage.

In addition to the acreage sale, EVEP announced the Utica East Ohio midstream facilities had started processing gas in July. The plant processes more than 85 MMcfd of wet gas, has a capacity of 200 MMcfd, and throughput is expected to increase steadily over the next few weeks.

Related Articles

IAGC appoints new president

09/19/2014 The board of the International Association of Geophysical Contractors has reported that Ken Wells has been named as the organization’s president.

MARKET WATCH: Crude oil futures down more than $1 in New York, London

09/19/2014 The New York Mercantile Exchange October crude oil contract lost $1.35 to $93.07/bbl on Sept. 18. The November contract declined $1.22 to $91.98/bbl.

ExxonMobil ‘winding down’ Arctic well, complying with US, EU sanctions on Russia

09/19/2014 ExxonMobil Corp. released a statement that the company is complying with all US sanctions on Russia after news reports that the operator had halted...

ExxonMobil, Linn to make second asset exchange this year

09/19/2014 ExxonMobil Corp. has agreed to trade interest in 500 net acres from South Belridge field near Bakersfield, Calif., to Linn Energy LLC, Houston, in ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected