EnerVest Energy Partners announced today that it is expanding its Eagle Ford Shale holdings and pulling back from the Barnett Shale.

Related: EnerVest Grabs Eagle Ford Assets for $1.3 Billion

Houston-based EnerVest Energy Partners have closed on an acquisition of Eagle Ford oil and natural gas properties in Karnes County. The $58.7 million includes 5.8 percent working interest in 9,151 gross acre.

Highlights include:

• Eagle Ford and Austin Chalk reserves and drilling opportunities
• Estimated proved reserves of approximately 6.4 Mmboe and probable reserves of 1.3 Mmboe, net to EVEP (based on recent strip prices)
• 22 percent proved developed and 61 percent crude
• Current net daily production of approximately 1.0 Mboepd (73 percent crude)
• Over 200 economic, scalable and repeatable proved and probable horizontal drilling opportunities
• Additional possible drilling locations
• Attractive drilling economics at current strip prices
• Significantly higher margins and higher cash flow from acquired Eagle Ford Shale properties as compared to the divested Barnett Shale properties (based on recent strip prices)

EV Energy Partners is a a publicly traded affiliate of Houston’s EnerVest Ltd. Since 2015, EnerVest has been gobbling up acres and assets in the Eagle Ford including:

• May 2016
  • Purchased 7,056 net acres from BlackBrush Oil and Gas LP
  • The assets include 341 drilling locations and produce 5,170 barrels of oil equivalent per day
• April 29, 2016
  • 4,198 net acres from affiliates of San Antonio-based GulfTex
  • 256 drilling locations
  • Produce 8,568 barrels of oil equivalent per day
• Fall 2015
  • $125 million purchase of Houston-based Alta Mesa Holdings LP’s
  • 1,760 net acres with 278 drilling locations and 7.8 million barrels of oil equivalent of reserves
  • Producing 2,200 barrels of oil equivalent per day

Learn more at evenergypartners.com