We've got a relationship with EnerVest, which provides us a really nice scale and operating expertise. We've been doing acquisitions a really long time, 20 years next – as of this coming year. We have a lot of different sources of acquisitions, which drive our business. We have a diverse set of properties which lowers our risk. Mike helps keep our balance sheet in order and we have some Utica Shale upside and probably most of you who are here – at least some about what's going on with the Utica.
A little bit of background on EV Energy. It was created in 2006; we celebrated our five-year anniversary in September. It's a conventional master limited partnership structure. EnerVest and the management team own 76% of the GP, EnCap owns 23% of the GP. The GP has conventional splits, except that they are capped at 25%.
We have about 34 million outstanding units as we speak and almost $3 billion of enterprise value. We are currently yielding about 4.2%, which is much lower than the rest of our peer group. A lot of that obviously is tied to our Utica upside we'll talk about. And our returns have been quite good. If you look at it over the last three years, our compound annual returns have been about 84%, which is compared to a good run by the overall upstream MLP market and by MLPs in general. So, we've had excellent returns. We are really excited and thankful about that.
A little bit of background on EnerVest. EnerVest essentially formed EVEP with one thing in mind and that was to – or a couple of things in mind. The main thing was to provide a public – the public ability to invest in a business plan that had worked with us in the private equity business for a long time.
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