Moody's downgrades EV Energy Partners, L.P.'s PDR to D-PD
Moody's Investors Service, ("Moody's") downgrades EV Energy Partners, L.P.'s (EVEP) Probability of Default Rating (PDR) to D-PD from Ca-PD, following the company's recent announcement that it and certain of its affiliates filed voluntary petitions for restructuring under Chapter 11 of ...EV Energy Partners is engaged in the acquisition, development and production of oil and natural gas properties. As of Dec 31 2016, Co.'s oil and natural gas properties were located in the Barnett Shale, the San Juan Basin, the Appalachian Basin (includes the Utica Shale), Michigan, Central Texas (includes the Austin Chalk area), the Monroe Field in Northern Louisiana, the Mid–Continent areas in Oklahoma, Texas, Arkansas, Kansas and Louisiana and the Permian Basin. As of Dec 31 2016, Co. estimated net proved reserves was 851.20 billion cubic ft. equivalent, consisting of 12.6 million barrels of oil (MMBbls), 575.30 billion cubic feet of natural gas and 33.4 MMBbls of natural gas liquids.
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