EV Energy Partners to Sell Utica Shale Acres for $284.3M

EV Energy Partners, L.P.,

today announced that it, along with certain institutional partnerships managed by EnerVest, Ltd., has signed an agreement to divest certain acreage in Ohio's Utica Shale for $284.3 million to an undisclosed buyer.  The total acreage associated with this sale includes 22,535 acres in Guernsey, Harrison and Noble counties.  Of that total, EVEP is selling 4,345 acres for approximately $56 million, net to its ownership interest.  EVEP will retain its overriding royalty interests in these acres.  The transaction is expected to close by the end of the third quarter and is subject to customary closing conditions and purchase price adjustments.