SOURCE: EV Energy Partners, L.P.

EV Energy Partners, L.P.

December 30, 2010 16:15 ET

EV Energy Partners Announces Closing of Barnett Shale Acquisition

HOUSTON, TX--(Marketwire - December 30, 2010) - EV Energy Partners, L.P. (NASDAQ: EVEP) today announced it, along with certain institutional partnerships managed by EnerVest, Ltd., closed the previously announced Barnett Shale oil and natural gas property acquisition from Talon Oil & Gas LLC. EVEP acquired a 31.02% interest in these assets for an adjusted purchase price of $295.9 million, subject to customary post-closing adjustments. The acquisition was funded primarily with borrowings under its credit facility. EVEP's outstanding debt after funding of the acquisition is $619 million on a revised borrowing base of $700 million.

EV Energy Partners, L.P., is a master limited partnership engaged in acquiring, producing and developing oil and natural gas properties. More information about EVEP is available on the internet at

(code #: EVEP/G)

This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the partnership, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to financial performance and results, availability of sufficient cash flow to pay distributions and execute our business plan, prices and demand for natural gas and oil, our ability to replace reserves and efficiently develop our current reserves and other important factors that could cause actual results to differ materially from those projected as described in the Company's reports filed with the Securities and Exchange Commission available from us at or from the Securities and Exchange Commission at

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