Yesterday, MDN told you about EV Energy Partners/EnverVest’s (EVEP) mission to sell at least some of the 539,000 acres of Utica Shale leases they hold in Ohio (see EV Energy Partners Deal to Sell 104K Utica Acres Dead, What Now?). As part of the investor update call with EVEP on Tuesday, company chairman John Walker went on a PR offensive by saying drillers are watching how much oil will be produced by a well in Tuscarawas County (where EVEP is trying to unload acreage), and by saying the cost to drill a Utica well has come down, by up to 50%, from what it was when drillers first started in the Utica just a few years ago.

Walker’s comments from Tuesday:

Read More “EVEP’s Utica PR Offensive: Good Oil Pressure, Low Drilling Costs”

EV Energy Partners/EnerVest Executive Chairman John Walker admitted yesterday that a deal to sell the company’s interest in 104,000 Utica Shale acres has fallen apart. MDN has chronicled the journey thus far in a number of articles. In September 2013, EVEP announced they had put 539,000 Utica acres on the auction block and were confident they would sell it by year’s end and receive in the neighborhood of $6 billion (see EnerVest Puts 539,000 Utica Shale Acres on Auction Block). That didn’t happen.

Earlier this year, EVEP seemed to pull back from the original offer and instead push 104,000 acres concentrated in Stark, Tuscarawas and surrounding counties (see EnerVest Strategy: Sell Utica, Drill Vertical, Expand Midstream). That smaller deal has now also “failed” according to yesterday’s call. Apparently the price was right, but the terms were not. So what happens now?
Read More “EV Energy Partners Deal to Sell 104K Utica Acres Dead, What Now?”