From Texas-based EV Energy Partners and affiliates on Friday:
The acquisition, which has been approved by the Board of Directors, is expected to close by
The acquisition is comprised of 82 wells producing primarily from the
The properties, and EVEP's share of reserves and production, include:
-- Estimated proved reserves as of
-- 100 percent natural gas and 58.4 percent proved developed
-- 71 identified low-risk proved and probable drilling locations with an estimated average drilling and completion cost of
-- Net daily production to EVEP's interest of approximately 13.1 MMCF/D
-- Natural gas pricing of
-- Current lease operating costs, including ad valorem taxes, of
-- Production taxes of 1.7% to 2.1% of revenue
-- Incremental annual general and administrative expense of approximately
In conjunction with the acquisition, and consistent with its strategy of hedging production of acquired assets, EVEP intends to enter into arrangements to hedge a portion of the acquired production volumes at or prior to closing.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.