EV Energy Partners
Houston, Texas-based EV Energy Partners L.P. (NASDAQ: EVEP) is an oil and gas exploration and production company spun off from the institutional asset management company, EnerVest Ltd. It operates as a master limited partnership and has drilled over 500 wells in the Knox Dolomite of eastern Ohio.
The company owns or controls 150,000 net acres in the Point Pleasant formation, lower member of the Utica shale believed rich in natural gas liquids and also located in eastern Ohio. It holds overrides on an additional 80,000 prospective acres there. Due to having previously drilled at greater depths in the Knox group, the company possesses drilling logs and core samples for much of its acreage that provides an understanding of reservoir potential in the Utica Point Pleasant. EV Energy planned to drill horizontal wells during the summer of 2011 to further evaluate the potential of its acreage.
In January, 2012, the company formed a joint venture with Chesapeake Energy and Total S.A. to explore its Utica shale acreage. This deal, including a later one in March to build out midstream infrastructure, is covered in greater detail on the Chesapeake wiki page.
- John B. Walker is Chairman and CEO of EV Energy Partners and EnerVest.