EV Energy Partners, L.P. (EVEP) announced that the company is purchasing producing oil and gas assets located in the Barnett Shale in Texas. The company is purchasing a 31% share of the assets from Talon Oil & Gas LLC for $300 million.
EV Energy Partners, L.P. net share of the Barnett Shale assets include 212 producing wells with proved reserves of 328.5 Bcfe. The company said that 71% of the production is natural gas and 29% is liquids.
EV Energy Partners, L.P. said that the wells were producing 27 million cubic feet equivalents per day, and had a reserves to production ratio of 33 years.