Saturday, February 14, 2015

EV Energy Partners to Acquire Natural Gas Properties from Carrizo (EVEP, CRZO)

EV Energy Partners, L.P. (EVEP) announced on Friday that it will acquire natural gas assets from Carrizo Oil and Gas, Inc (CRZO).

With the help of institutional partnerships managed by EnerVest, EVEP will acquire a 31% stake in natural gas properties in the Barnett Shale from CRZO for $67.6 million. Including the partnerships managed by EnerVest, the deal will be worth a total of $218 million.

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The deal has been approved by the board of directors of both companies and is expected to be finalized on October 31. The assets include 82 wells and over 17,000 gross acres.

EV Energy shares were mostly flat during pre-market trading Friday. The stock is down 36% YTD.

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