HOUSTON, Nov. 01, 2016 (GLOBE NEWSWIRE) -- EV Energy Partners, L.P. (Nasdaq:EVEP) today announced that it has completed its fall 2016 semi-annual borrowing base redetermination under its revolving credit facility (“Facility”). The borrowing base was reaffirmed at $450 million and there were no changes to the existing terms or conditions of the Facility. A total of $281 million of borrowings is currently outstanding under the Facility, leaving $169 million of available capacity.
The next scheduled borrowing base redetermination will be April 2017.
About EV Energy Partners, L.P.
EV Energy Partners, L.P. is a Houston based master limited partnership engaged in acquiring, producing and developing oil and natural gas properties. More information about EVEP is available on the Internet at 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.
EV Energy Partners, L.P., Houston Nicholas Bobrowski 713-651-1144 http://www.evenergypartners.com
Source:EV Energy Partners, L.P.