EV Energy Partners (EVEP) Commences 3M Common Unit Offering

EV Energy Partners, L.P. (NASDAQ: EVEP) today announced that it has commenced an underwritten public offering of 3.0 million of its common units representing limited partner interests. The Partnership also intends to grant the underwriters a 30-day option to purchase up to 450,000 additional common units to cover over-allotments, if any.

The Partnership intends to use the net proceeds from the offering, including the proceeds from any exercise of the over-allotment option, to fund part of the purchase price of the recently announced Appalachian acquisition, which is expected to close by March 31, 2010. Pending the use of the proceeds for funding the closing of the Appalachian acquisition (or should such acquisition not be completed, potential future acquisitions), the Partnership intends to use the proceeds to repay indebtedness under its existing revolving credit facility.

RBC Capital Markets, Citi, Raymond James and Wells Fargo Securities will act as joint book-running managers for the offering.