EV Energy Partners LP, a publicly traded master limited partnership created by EnerVest Ltd., Houston, has proposed a prepackaged plan of reorganization under bankruptcy protection.
The plan would exchange $343 million of debt with equity in 95% of the reorganized company.
EV Energy Partners produced an average 167 MMcfd of natural gas equivalent oil, gas, and gas liquids in third-quarter 2017 It has interests in Michigan, the San Juan basin, Midcontinent, Appalachian basin, Permian basin, Barnett shale, Austin chalk, and Monroe field in Louisiana.
Neither EnerVest nor EnerVest Operating LLC is seeking bankruptcy protection.