HOUSTON, Nov. 09, 2016 (GLOBE NEWSWIRE) -- EV Energy Partners, L.P. (NASDAQ: EVEP ) today announced results for the third quarter of 2016 and the filing of its Form 10-Q with the Securities and Exchange Commission. In addition, EVEP has entered into additional commodity hedge positions.
Third Quarter 2016 Results
For the third quarter 2016, EVEP reported a net loss of $19.2 million, or $(0.38) per basic and diluted weighted average limited partner unit outstanding compared to a net loss of $29.0 million, or $(0.58) per basic and diluted weighted average limited partner unit outstanding for the second quarter of 2016. Included in net loss for the third quarter of 2016 were the following items:
- $1.9 million of non-cash costs contained in general and administrative expenses,
- $1.6 million of non-cash losses on commodity and interest rate derivatives,
- $1.4 million income tax refund associated with one of our partnerships,
- $0.7 million of impairment charges related to the write down of certain oil and natural gas properties primarily due to a change in development plans, and
- $0.3 million of dry hole and exploration costs.
For the third quarter of 2015, EVEP reported a net loss of $9.8 million, or $(0.20) per basic and diluted weighted average limited partner unit outstanding.
Production for the third quarter of 2016 was 12.5 Bcf of natural gas, 308 Mbbls of oil and 597 Mbbls of natural gas liquids, or 195.3 million cubic feet equivalent per day (Mmcfe/day). This represents a three percent decrease from second quarter of 2016 production of 201.5 Mmcfe/day and a 27 percent increase over the third quarter of 2015 production of 153.8 Mmcfe/day. The decrease from the second quarter of 2016 was due to the reduction in drilling activity, and the increase over the third quarter of 2015 was primarily due to the addition of producing properties acquired on October 1, 2015.
Adjusted EBITDAX for the third quarter of 2016 was $26.0 million, a two percent decrease from the second quarter of 2016 Adjusted EBITDAX of $26.5 million and a 41 percent decrease from the third quarter of 2015 Adjusted EBITDAX of $43.8 million. Distributable Cash Flow for the third quarter of 2016 was $6.4 million compared to $5.5 million for the second quarter of 2016 and $20.1 million for the third quarter of 2015. The increase in Distributable Cash Flow from the second quarter of 2016 was primarily attributable to a tax refund for one of the partnerships we operate. The decreases in Adjusted EBITDAX and Distributable Cash Flow from the third quarter of 2015 were primarily attributable to lower realized hedge gains and lower realized oil prices, partially offset by the addition of producing properties acquired on October 1, 2015 and higher realized natural gas and natural gas liquids prices. Adjusted EBITDAX and Distributable Cash Flow are Non-GAAP financial measures and are described in the attached table under “Non-GAAP Measures.”
“Reducing leverage and operating costs continues to be our focus, and we are pleased with our progress this year. As announced last week, we completed our fall borrowing base redetermination and appreciate the continued support from our bank group in reaffirming our borrowing base of $450 million. We currently have $281 million drawn on our credit facility and have over $177 million of liquidity between balance sheet cash and available borrowing base capacity. We believe this is a sufficient amount of capital to meet all of our near term needs," said Michael Mercer, President and CEO.
Additional Commodity Hedges
EVEP has recently entered into the following additional commodity hedges since its press release on August 9, 2016. EVEP's current hedge position, including these new hedges, is presented at the end of this press release under Total Hedge Position.
| Swap | Swap | Collar | Collar | Collar | ||||||||||||||||||
| Period | Index | Volume | Price | Volume | Floor | Ceiling | ||||||||||||||||
| Crude (Mbbls) | ||||||||||||||||||||||
| Oct - Dec 2016 | WTI | 138 | $ | 49.90 | 138 | $ | 45.00 | $ | 54.05 | |||||||||||||
| 2017 | WTI | 365 | $ | 52.85 | ||||||||||||||||||
Quarterly Report on Form 10-Q
EVEP’s financial statements and related footnotes are available on our third quarter 2016 Form 10-Q, which was filed today and is available through the Investor Relations/SEC Filings section of the EVEP website at http://www.evenergypartners.com .
Conference Call
As announced on October 20, 2016, EV Energy Partners, L.P. will host an investor conference call on November 9, 2016, at 9 a.m. Eastern Time (8 a.m. Central). Investors interested in participating in the call may dial 1-888-708-5690 (quote conference ID 6002278) at least 5 minutes prior to the start time, or may listen live over the Internet through the Investor Relations section of the EVEP website at http://www.evenergypartners.com .
EV Energy Partners, L.P. is a master limited partnership engaged in acquiring, producing and developing oil and natural gas properties. More information about EVEP is available on the Internet at http://www.evenergypartners.com .
(code #: EVEP/G)
Forward Looking Statements
This press release may include statements that are not historical facts which are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements include information about, future plans, our reserve quantities and the present value of our reserves, estimates of maintenance capital and production amounts and other statements which include words such as "anticipates," "plans," "projects," "expects," "intends," "believes," "should," and similar expressions of forward-looking information. Forward-looking statements are inherently uncertain and necessarily involve risks that may affect the business prospects and performance of EVEP. These statements are based on certain assumptions made by EVEP based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Actual results may differ materially from those contained in the press release. Such risks and uncertainties include, but are not limited to, changes in commodity prices, changes in reserve estimates, requirements and actions of purchasers of properties, exploration and development activities, the availability and cost of financing, the returns on our capital investments and acquisition strategies, the availability of sufficient cash flow to execute our business plan and general economic conditions. Additional information on risks and uncertainties that could affect our business prospects and performance are provided in the most recent reports of EVEP with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements.
Any forward-looking statement speaks only as of the date on which such statement is made and EVEP undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
| Operating Statistics | ||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||||
| Production data: | ||||||||||||||||||
| Oil (Mbbls) | 308 | 212 | 938 | 690 | ||||||||||||||
| Natural gas liquids (Mbbls) | 597 | 526 | 1,784 | 1,671 | ||||||||||||||
| Natural gas (Mmcf) | 12,535 | 9,720 | 38,304 | 30,326 | ||||||||||||||
| Net production (Mmcfe) | 17,965 | 14,147 | 54,637 | 44,491 | ||||||||||||||
| Average sales price per unit: (1) | ||||||||||||||||||
| Oil (Bbl) | $ | 40.40 | $ | 41.27 | $ | 36.82 | $ | 46.19 | ||||||||||
| Natural gas liquids (Bbl) | 14.23 | 11.93 | 14.09 | 14.11 | ||||||||||||||
| Natural gas (Mcf) | 2.38 | 2.32 | 1.86 | 2.38 | ||||||||||||||
| Mcfe | 2.82 | 2.66 | 2.39 | 2.87 | ||||||||||||||
| Average unit cost per Mcfe: | ||||||||||||||||||
| Production costs: | ||||||||||||||||||
| Lease operating expenses | $ | 1.42 | $ | 1.59 | $ | 1.47 | $ | 1.57 | ||||||||||
| Production taxes | 0.12 | 0.10 | 0.10 | 0.11 | ||||||||||||||
| Total | 1.54 | 1.69 | 1.57 | 1.68 | ||||||||||||||
| Depreciation, depletion and amortization | 1.76 | 1.66 | 1.67 | 1.68 | ||||||||||||||
| General and administrative expenses | 0.47 | 0.61 | 0.46 | 0.66 | ||||||||||||||
| (1) Prior to $10.1 million and $35.9 million of net hedge gains on settlements of commodity derivatives for the three months ended September 30, 2016 and September 30, 2015, respectively, and $49.1 million and $100.1 million for the nine months ended September 30, 2016 and September 30, 2015, respectively. | ||||||||||||||||||
| Condensed Consolidated Balance Sheets | |||||||||
| (In $ thousands, except number of units) | |||||||||
| (Unaudited) | |||||||||
| September 30, 2016 | December 31, 2015 | ||||||||
| ASSETS | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ | 5,981 | $ | 20,415 | |||||
| Accounts receivable: | |||||||||
| Oil, natural gas and natural gas liquids revenues | 37,803 | 24,285 | |||||||
| Other | 2,216 | 7,137 | |||||||
| Derivative asset | 10,043 | 60,662 | |||||||
| Other current assets | 3,226 | 3,057 | |||||||
| Total current assets | 59,269 | 115,556 | |||||||
| Oil and natural gas properties, net of accumulated | |||||||||
| depreciation, depletion and amortization; September 30, | |||||||||
| 2016, $1,062,990; December 31, 2015, $971,499 | 1,701,279 | 1,790,455 | |||||||
| Other property, net of accumulated depreciation | |||||||||
| and amortization; September 30, 2016, $994; | |||||||||
| December 31, 2015, $970 | 1,010 | 1,019 | |||||||
| Long–term derivative asset | 464 | 10,741 | |||||||
| Other assets | 4,354 | 5,831 | |||||||
| Total assets | $ | 1,766,376 | $ | 1,923,602 | |||||
| LIABILITIES AND OWNERS’ EQUITY | |||||||||
| Current liabilities: | |||||||||
| Accounts payable and accrued liabilities: | |||||||||
| Third party | $ | 40,278 | $ | 43,135 | |||||
| Related party | 5,224 | 5,952 | |||||||
| Income taxes | - | 11,657 | |||||||
| Derivative liability | 2,362 | - | |||||||
| Total current liabilities | 47,864 | 60,744 | |||||||
| Asset retirement obligations | 178,058 | 174,003 | |||||||
| Long–term debt, net | 613,799 | 688,614 | |||||||
| Long–term derivative liability | 3,056 | - | |||||||
| Other long–term liabilities | 1,278 | 1,682 | |||||||
| Commitments and contingencies | |||||||||
| Owners’ equity: | |||||||||
| Common unitholders - 49,055,214 units and | |||||||||
| 48,871,399 units issued and outstanding as of | |||||||||
| September 30, 2016 and December 31, 2015, respectively | 936,793 | 1,011,509 | |||||||
| General partner interest | (14,472 | ) | (12,950 | ) | |||||
| Total owners' equity | 922,321 | 998,559 | |||||||
| Total liabilities and owners' equity | $ | 1,766,376 | $ | 1,923,602 | |||||
| Condensed Consolidated Statements of Operations | |||||||||||||||||
| (In $ thousands, except per unit data) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
| 2016 | 2015 | 2016 | 2015 | ||||||||||||||
| Revenues: | |||||||||||||||||
| Oil, natural gas and natural gas liquids revenues | $ | 50,750 | $ | 37,587 | $ | 130,854 | $ | 127,734 | |||||||||
| Transportation and marketing–related revenues | 622 | 734 | 1,599 | 2,285 | |||||||||||||
| Total revenues | 51,372 | 38,321 | 132,453 | 130,019 | |||||||||||||
| Operating costs and expenses: | |||||||||||||||||
| Lease operating expenses | 25,571 | 22,509 | 80,532 | 69,833 | |||||||||||||
| Cost of purchased natural gas | 435 | 510 | 1,076 | 1,588 | |||||||||||||
| Dry hole and exploration costs | 294 | 1,034 | 1,195 | 1,720 | |||||||||||||
| Production taxes | 2,126 | 1,357 | 5,501 | 4,708 | |||||||||||||
| Accretion expense on obligations | 2,057 | 1,134 | 6,146 | 3,548 | |||||||||||||
| Depreciation, depletion and amortization | 31,639 | 23,485 | 91,492 | 74,718 | |||||||||||||
| General and administrative expenses | 8,514 | 8,609 | 24,862 | 28,968 | |||||||||||||
| Impairment of oil and natural gas properties | 687 | 15,787 | 3,371 | 122,244 | |||||||||||||
| Gain on settlement of contract | - | - | (3,185 | ) | - | ||||||||||||
| Gain on sales of oil and natural gas properties | - | - | - | (531 | ) | ||||||||||||
| Total operating costs and expenses | 71,323 | 74,425 | 210,990 | 306,796 | |||||||||||||
| Operating loss | (19,951 | ) | (36,104 | ) | (78,537 | ) | (176,777 | ) | |||||||||
| Other income (expense), net: | |||||||||||||||||
| Gain (loss) on derivatives, net | 8,559 | 37,042 | (17,192 | ) | 51,406 | ||||||||||||
| Interest expense | (9,889 | ) | (11,043 | ) | (32,554 | ) | (38,279 | ) | |||||||||
| Gain on early extinguishment of debt | - | - | 47,695 | - | |||||||||||||
| Other income, net | 622 | 206 | 1,586 | 51 | |||||||||||||
| Total other income (expense), net | (708 | ) | 26,205 | (465 | ) | 13,178 | |||||||||||
| Loss from continuing operations before income taxes | (20,659 | ) | (9,899 | ) | (79,002 | ) | (163,599 | ) | |||||||||
| Income taxes | 1,429 | 61 | 1,779 | 684 | |||||||||||||
| Loss from continuing operations | (19,230 | ) | (9,838 | ) | (77,223 | ) | (162,915 | ) | |||||||||
| Income from discontinued operations | - | - | - | 255,512 | |||||||||||||
| Net income (loss) | $ | (19,230 | ) | $ | (9,838 | ) | $ | (77,223 | ) | $ | 92,597 | ||||||
| Basic and diluted earnings per limited partner unit: | |||||||||||||||||
| Loss from continuing operations | $ | (0.38 | ) | $ | (0.20 | ) | $ | (1.54 | ) | $ | (3.29 | ) | |||||
| Income from discontinued operations | - | - | - | 5.12 | |||||||||||||
| Net income (loss) | $ | (0.38 | ) | $ | (0.20 | ) | $ | (1.54 | ) | $ | 1.83 | ||||||
| Weighted average limited partner units outstanding (basic and diluted) | 49,055 | 48,871 | 49,046 | 48,846 | |||||||||||||
| Distributions declared per unit | $ | - | $ | 0.50 | $ | - | $ | 1.50 | |||||||||
| Condensed Consolidated Statements of Cash Flows | |||||||||
| (In $ thousands) | |||||||||
| (Unaudited) | Nine Months Ended September 30, | ||||||||
| 2016 | 2015 | ||||||||
| Cash flows from operating activities: | |||||||||
| Net income (loss) | $ | (77,223 | ) | $ | 92,597 | ||||
| Adjustments to reconcile net income (loss) to net cash flows provided by operating activities: | |||||||||
| Income from discontinued operations | - | (255,512 | ) | ||||||
| Amortization of volumetric production payment liability | (3,070 | ) | - | ||||||
| Accretion expense on obligations | 6,146 | 3,548 | |||||||
| Depreciation, depletion and amortization | 91,492 | 74,718 | |||||||
| Equity–based compensation cost | 4,853 | 9,635 | |||||||
| Impairment of oil and natural gas properties | 3,371 | 122,244 | |||||||
| Gain on sales of oil and natural gas properties | - | (531 | ) | ||||||
| Loss (gain) on derivatives, net | 17,192 | (51,406 | ) | ||||||
| Cash settlements of matured derivative contracts | 46,299 | 98,368 | |||||||
| Gain on early extinguishment of debt | (47,695 | ) | - | ||||||
| Other | 1,822 | 288 | |||||||
| Changes in operating assets and liabilities: | |||||||||
| Accounts receivable | (8,597 | ) | 13,864 | ||||||
| Other current assets | (291 | ) | 894 | ||||||
| Accounts payable and accrued liabilities | 4,158 | 10,610 | |||||||
| Income taxes | (11,657 | ) | - | ||||||
| Other, net | (277 | ) | (120 | ) | |||||
| Net cash flows provided by operating activities from continuing operations | 26,523 | 119,197 | |||||||
| Net cash flows used in operating activities from discontinued operations | - | (372 | ) | ||||||
| Net cash flows provided by operating activities | 26,523 | 118,825 | |||||||
| Cash flows from investing activities: | |||||||||
| Additions to oil and natural gas properties | (14,266 | ) | (58,687 | ) | |||||
| Deposit on acquisition of oil and natural gas properties | - | (25,900 | ) | ||||||
| Proceeds from sale of oil and natural gas properties | 2,420 | 1,439 | |||||||
| Cash settlements from acquired derivative contracts | 2,823 | - | |||||||
| Restricted cash | - | 33,768 | |||||||
| Other | 33 | 48 | |||||||
| Net cash flows used in investing activities from continuing operations | (8,990 | ) | (49,332 | ) | |||||
| Net cash flows provided by investing activities from discontinued operations | - | 572,160 | |||||||
| Net cash flows (used in) provided by investing activities | (8,990 | ) | 522,828 | ||||||
| Cash flows from financing activities: | |||||||||
| Repayment of long-term debt borrowings | (41,000 | ) | (561,000 | ) | |||||
| Long-term debt borrowings | 48,000 | 30,000 | |||||||
| Redemption of Senior Notes due 2019 | (34,978 | ) | - | ||||||
| Loan costs incurred | (121 | ) | (3,400 | ) | |||||
| Contributions from general partner | - | 91 | |||||||
| Distributions paid | (3,868 | ) | (75,738 | ) | |||||
| Net cash flows used in financing activities | (31,967 | ) | (610,047 | ) | |||||
| Increase (decrease) in cash and cash equivalents | (14,434 | ) | 31,606 | ||||||
| Cash and cash equivalents – beginning of period | 20,415 | 8,255 | |||||||
| Cash and cash equivalents – end of period | $ | 5,981 | $ | 39,861 | |||||
Non-GAAP Measures
We define Adjusted EBITDAX as net income (loss) plus income from discontinued operations, EBITDAX from discontinued operations, income taxes, interest expense, net, cash settlements of matured interest rate swaps, depreciation, depletion and amortization, accretion expense on obligations, amortization of volumetric production payment (VPP), (gain) loss on derivatives, net, cash settlements of matured derivative contracts, non-cash equity-based compensation, impairment of oil and natural gas properties, non-cash inventory write down expense, dry hole and exploration costs, gain on sales of oil and natural gas properties, gain on settlement of contract, gain on early extinguishment of debt, and (gain) loss on sale of investment, contained in Other income, net. Distributable Cash Flow is defined as Adjusted EBITDAX less cash income taxes, cash interest expense, net, realized losses on interest rate swaps, and estimated maintenance capital expenditures.
Adjusted EBITDAX and Distributable Cash Flow are used by our management to provide additional information and statistics relative to the performance of our business, including (prior to the creation of any reserves) the cash available to pay distributions to our unitholders. We believe these financial measures may indicate to investors whether or not we are generating cash flow at a level that can sustain or support quarterly distributions. Adjusted EBITDAX and Distributable Cash Flow are also quantitative standards used throughout the investment community with respect to performance of publicly-traded partnerships. Adjusted EBITDAX and Distributable Cash Flow should not be considered as alternatives to net income, operating income, cash flows from operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. Adjusted EBITDAX and Distributable Cash Flow exclude some, but not all, items that affect net income and operating income and these measures may vary among companies. Therefore, our Adjusted EBITDAX and Distributable Cash Flow may not be comparable to similarly titled measures of other companies.
| Reconciliation of Net Income (Loss) to Adjusted EBITDAX and Distributable Cash Flow | |||||||||||||||||||||
| (In $ thousands) | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| Sep 30, 2016 | Sep 30, 2015 | Jun 30, 2016 | Sep 30, 2016 | Sep 30, 2015 | |||||||||||||||||
| Net income (loss) | $ | (19,230 | ) | $ | (9,838 | ) | $ | (28,993 | ) | $ | (77,223 | ) | $ | 92,597 | |||||||
| Add: | |||||||||||||||||||||
| Income from discontinued operations | - | - | - | - | (255,512 | ) | |||||||||||||||
| EBITDAX from discontinued operations | - | - | - | - | 15,941 | ||||||||||||||||
| Income taxes | (1,429 | ) | (61 | ) | (191 | ) | (1,779 | ) | (684 | ) | |||||||||||
| Interest expense, net | 9,889 | 11,032 | 11,840 | 32,544 | 38,264 | ||||||||||||||||
| Cash settlements of matured interest rate swaps | - | - | - | - | 1,736 | ||||||||||||||||
| Depreciation, depletion and amortization | 31,639 | 23,485 | 31,648 | 91,492 | 74,718 | ||||||||||||||||
| Accretion expense on obligations | 2,057 | 1,134 | 2,049 | 6,146 | 3,548 | ||||||||||||||||
| Amortization of VPP | (1,027 | ) | - | (1,023 | ) | (3,070 | ) | - | |||||||||||||
| (Gain) loss on derivatives, net | (8,559 | ) | (37,042 | ) | 35,585 | 17,192 | (51,406 | ) | |||||||||||||
| Cash settlements of matured derivative contracts | 10,117 | 35,891 | 19,180 | 49,122 | 98,368 | ||||||||||||||||
| Non-cash equity-based compensation | 1,889 | 2,341 | 1,364 | 4,853 | 9,635 | ||||||||||||||||
| Impairment of oil and natural gas properties | 687 | 15,787 | 1,997 | 3,371 | 122,244 | ||||||||||||||||
| Non-cash inventory write down expense | - | - | - | 123 | 149 | ||||||||||||||||
| Dry hole and exploration costs | 294 | 1,034 | 771 | 1,195 | 1,720 | ||||||||||||||||
| Gain on sales of oil and natural gas properties | - | - | - | - | (531 | ) | |||||||||||||||
| Gain on settlement of contract | - | - | - | (3,185 | ) | - | |||||||||||||||
| Gain on early extinguishment of debt | - | - | (47,695 | ) | (47,695 | ) | - | ||||||||||||||
| (Gain) loss on sale of investment, contained in Other income, net | (309 | ) | - | - | (309 | ) | 358 | ||||||||||||||
| Adjusted EBITDAX | $ | 26,018 | $ | 43,763 | $ | 26,532 | $ | 72,777 | $ | 151,145 | |||||||||||
| Less: | |||||||||||||||||||||
| Cash income taxes | (933 | ) | - | - | (933 | ) | - | ||||||||||||||
| Cash interest expense, net | 9,566 | 10,631 | 9,984 | 29,950 | 37,240 | ||||||||||||||||
| Realized losses on interest rate swaps | - | - | - | - | 1,736 | ||||||||||||||||
| Estimated maintenance capital expenditures (1) | 11,000 | 13,000 | 11,000 | 33,000 | 39,797 | ||||||||||||||||
| Distributable Cash Flow | $ | 6,385 | $ | 20,132 | $ | 5,548 | $ | 10,760 | $ | 72,372 | |||||||||||
| (1) Estimated maintenance capital expenditures are those expenditures estimated to be necessary to maintain the production levels of our oil and gas properties over the long term and the operating capacity of our other assets over the long term. | |||||||||||||||||||||
Total Hedge Position
EV Energy Partners’ total hedge position as of November 9, 2016, including the recent additional hedges mentioned above, is as follows:
| Swap | Swap | Collar | Collar | Collar | |||||||||||||||
| Period | Index | Volume | Price | Volume | Floor | Ceiling | |||||||||||||
| Natural Gas (Mmmbtus) | |||||||||||||||||||
| Oct - Dec 2016 | NYMEX | 11,316 | $ | 3.42 | |||||||||||||||
| 2017 | NYMEX | 32,850 | $ | 3.07 | 10,950 | $ | 2.75 | $ | 3.27 | ||||||||||
| Crude (Mbbls) | |||||||||||||||||||
| Oct - Dec 2016 | WTI | 230 | $ | 65.99 | 138 | $ | 45.00 | $ | 54.05 | ||||||||||
| 2017 | WTI | 365 | $ | 52.85 | |||||||||||||||
| Ethane (Mbbls) | |||||||||||||||||||
| Oct - Dec 2016 | Mt Belvieu | 0.9 | $ | 9.14 | |||||||||||||||
| Notional Amount | Fixed Rate | ||||||||||||||||||
| Interest Rate Swap Agreements | ($ mill) | ||||||||||||||||||
| Jan 2017 - Dec 2017 | 100 | 1.039 | % | ||||||||||||||||
| Jan 2018 - Sep 2020 | 100 | 1.795 | % | ||||||||||||||||
EV Energy Partners, L.P., Houston Nicholas Bobrowski 713-651-1144 http://www.evenergypartners.com
