EV Energy Partners LP, Houston, (Nasdaq: EVEP) plans to acquire properties in the Permian Basin from privately owned, Houston-based Plantation Petroleum Holdings III LLC, a company backed by Houston-based private-equity provider EnCap Investments LP, for $160 million. The assets are comprised of 142 wells (100% operated) producing primarily from the Yates, Seven Rivers, Queen and Morrow formations in Lea and Eddy counties, New Mexico, and Winkler County, Texas; and the Clear Fork and Wichita Albany formations in Gaines County, Texas. Net production is approximately 11.2 million cubic feet of gas equivalent per day. Proved reserves are 79.1 billion cubic feet equivalent (49% gas liquids, 51% proved developed producing).
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