EV Energy Partners LP(EVEP), the upstream master limited partnership of EnerVest Ltd., has agreed with its bondholders and lenders to restructure the company in a prepackaged Chapter 11 bankruptcy filing. The restructuring would among other things amend the company’s lending facility and eliminate more than $343 million of principal and interest on its senior notes. In exchange, creditors would receive 95% of the reorganized company’s equity. EVEP said it expects to file the bankruptcy plan by April 8. EnerVest Ltd. and EnerVest Operating LLC are not seeking bankruptcy protection. EnerVest Operating would continue to operate assets for EVEP in the San Juan Basin, Appalachian Basin and those in Michigan and Texas, including wells in the Barnett Shale and Permian Basin.
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Articles from Evep
EVEP Activity in Eagle Ford, Austin Chalk Escalating
Four wells drilled and completed (D&C) in a newly acquired area in the Eagle Ford Shale of South Texas averaged a combined 6,000 boe/d over 60 days, 84% weighted to oil, EV Energy Partners LP (EVEP) said.
EVEP Replaces Dry Gas Barnett With More Eagle Ford Crude Production
EV Energy Partners LP (EVEP) has divested 16% of its Barnett Shale position and replaced it with a 5.8% working interest in the Eagle Ford Shale.
EVEP Still Waiting on Higher Commodity Prices
Houston-based EV Energy Partners LP (EVEP) continued to hunker down during the third quarter, with distributions to its unitholders still suspended while the company awaits higher commodity prices.
Waiting For Better Oil/Gas Prices, EVEP Hunkered Down During 1Q
EV Energy Partners LP started the year quietly, focused primarily on its balance sheet and relying on acquisitions it completed in the fourth quarter to grow year-over-year production through the first three months of 2016.
Waiting For Better Oil/Gas Prices, EVEP Hunkered Down During 1Q
EV Energy Partners LP started the year quietly, focused primarily on its balance sheet and relying on acquisitions it completed in the fourth quarter to grow year-over-year production through the first three months of 2016.
EnerVest Drops Oil/Gas Properties to EVEP in $259M Deal
EV Energy Partners LP said Thursday it would acquire oil and natural gas properties in four basins across the country in a $259 million dropdown from institutional funds managed by affiliate EnerVest Ltd.
EVEP Focused on Estimated $9B of Assets Up For Grabs
EV Energy Partners LP (EVEP) saw its production decline during the second quarter with bad weather in Texas and Appalachian Basin maintenance shut-ins, but the company is keeping a sharp eye on its estimate of $9 billion in assets on, or soon to be on, the market.
EVEP’s Waterless Utica Frack Fails to Unlock Volatile Oil
After 90 days of production, EV Energy Partners LP’s closely watched Nettles 3H well in Tuscarawas County, OH, which was stimulated with a mixture of liquid butane and mineral oil instead of water, has failed to meet the company’s expectations.
EVEP’s Waterless Utica Frack Fails to Unlock Volatile Oil
After 90 days of production, EV Energy Partners LP's closely watched Nettles 3H well in Tuscarawas County, OH, which was stimulated with a mixture of liquid butane and mineral oil instead of water, has failed to meet the company's expectations.
