Apache signs agreement with EVEP

Apache Corporation has signed a multi-year agreement with EV Energy Partners, L.P. (EVEP) and institutional partnerships managed by EnerVest, Ltd., to explore for oil and gas in deeper formations across 400,000 acres in Central and East Texas.

Apache agreed to explore for new reserves below the base of the Austin Chalk formation and will be operator. EVEP and EnerVest will contribute the acreage.

Apache Corporation is a large oil and gas independent with operations in the United States, Canada, the United Kingdom North Sea, Egypt, Australia and Argentina.

EVEP is a Houston-based publicly traded master limited partnership engaged in acquiring, producing and developing oil and gas properties. EnerVest, founded in 1992, acquires, develops and operates oil and gas fields on behalf of institutional investors. EnerVest is also the general partner of the general partner of EVEP.