EV Energy Partners, L.P. Q2 2010 Earnings Call Transcript

EV Energy Partners, L.P. (EVEP)

Q2 2010 Earnings Call Transcript

August 10, 2010 10:00 am ET

Executives

John Walker – Chairman and CEO

Mike Mercer – SVP and CFO

Mark Houser – President and COO

Analysts

Leo Mariani – RBC Capital

Kevin Smith – Raymond James

Dan Morrison – Global Hunter

Michael Blum – Wells Fargo

Stewart Bailey [ph]

Presentation

Operator

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Previous Statements by EVEP
» EV Energy Partners, LP Q1 2010 Earnings Call Transcript
» EV Energy Partners, L.P. Q4 2009 Earnings Call Transcript
» EV Energy Partners, L.P. Q3 2009 Earnings Call Transcript

Ladies and gentlemen, thank you for standing by. Welcome to the EV Energy Partners LP second quarter 2010 earnings release conference call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be opened for questions. (Operator Instructions) I would now like to turn the conference over to Mr. John Walker, Chairman and CEO. Please go ahead, sir.

John Walker

Thank you, Marissa. Good morning, everyone. We’ve got some good news to report today. Along with me, I’ve got Mark Houser, the President, Mike Mercer, Chief Financial Officer, Fred Dwyer, who is our controller and Josh Stevens. Ron Gajdica is going to be dialing in.

Second quarter results again were steady and I think generally in line with guidance after adjusting for some one-time non-recurring cost and Mike Mercer will detail the results in a few minutes. So, you can understand that.

Some of these, we told you would occur back when we had a first quarter call. Yesterday, we signed a purchases and sales agreement with Petrohawk to acquire $123 million of properties in East Texas and Oklahoma. They had overlapped with existing EV EP assets as well as some other air base assets. The acquisition will close September 29. It’s accretive and provides us an interest in some great ore fields, some of which you heard of (inaudible) in Anadorka basin.