EV Energy Partners sells acreage in Utica Shale play

YOUNGSTOWN — EV Energy Partners, one of the Utica Shale play’s largest oil and gas producers, today announced that it had signed an agreement with an undisclosed buyer to sell 22,535 acres in southeast Ohio for $284.3 million.

The Utica acreage is spread across Guernsey, Harrison and Noble counties. EVEP also said it would retain royalty interests across 4,345 acres included in the sale.

The value of the sale averages $12,900 per acre in an area of the play that has been productive with wells generally producing a high gas-to-oil ratio.

EVEP has been working to sell about 100,000 acres for a year now.

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