One-Page Deal Sheet
EV Energy Partners, EnerVest Enter Farmout Agreement with PetroEdge
Petroedge Energy Llc Enervest Ltd., EV Energy Partners Lp
Announced Date
December 08,2009
Close Date
December 08,2009
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
33
Asset/Basin:
{"Appalachian Basin","Marcellus Shale"}
TargetZones:
{"Marcellus Shale"}
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
West Virginia
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
EV Energy Partners, L.P. and EnerVest, Ltd. have entered into a farmout agreement with PetroEdge Energy, LLC on approximately 9,500 net acres in Harrison, Marion, Doddridge, Barbour, Upshur and Randolph Counties in North Central West Virginia.
EVEP is contributing approximately 7,760 net acres (81% of the total), with EnerVest contributing the remainder.
PetroEdge will earn a 75% working interest in the contributed acreage related to each well it drills and completes, and will earn a 75% working interest in the total contributed acreage if it spends approximately $33 million on drilling and…
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