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EV Energy Partners, EnerVest to Acquire Properties in the Barnett Shale
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EV Energy Partners, L.P., (NASDAQ: EVEP) today announced it, along with certain institutional partnerships managed by EnerVest, Ltd., has signed agreements with two unrelated companies to acquire over $1.2 billion of oil and natural gas properties located in the Barnett Shale: the first is for $975 million from Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corporation, and the second is a $233 million acquisition from an undisclosed private seller. EVEP will acquire an approximate 31 percent interest in both acquisitions for a combined $372.3 million.
The acquisitions, which have been approved by the EVEP Board of Directors, are expected to close in December and are subject to customary closing conditions and purchase price adjustments. EVEP plans to initially finance the…
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