An undisclosed buyer entered into an agreement to acquire 22,535 acres in Guernsey, Harrison and Noble counties from EV Energy Partners LP (NasdaqGS:EVEP) and certain institutional partnerships managed by EnerVest, Ltd. for approximately $280 million in cash on August 9, 2013. The purchase price is subject to certain adjustments. EV Energy is selling 4,345 acres for approximately $56 million and will retain its overriding royalty interests in these acres. The completion of transaction is subject to customary closing conditions. The transaction is expected to close by the end of the third quarter. Jefferies LLC acted as financial advisor for EV Energy Partners LP. Marcia Backus, Joe Dilg, Paul Seifert, Katherine Rollins, Todd Way, Julia Pashin and Larry Nettles of Vinson & Elkins acted as legal advisors to EnerVest, Ltd. As of October 4, 2013, EV Energy Partners had closed on the sale of $36.6 million of these acres and expect to close on the majority of the remaining acreage prior to year end 2013. In October 2013, EV Energy closed on the sale of $41.2 million of these acres, and expect additional closings on the remaining acreage prior to year end 2013.

An undisclosed buyer completed the acquisition of 22,535 acres in Guernsey, Harrison and Noble counties from EV Energy Partners LP (NasdaqGS:EVEP) and certain institutional partnerships managed by EnerVest, Ltd. in 2013.