EVEP Increases Cash Distribution
EV Energy Partners, L.P. (EVEP) on Monday announced a cash distribution for the first quarter of 2007 of $0.46 per unit for all of its outstanding units. The distribution represents a 15 percent increase over EVEP's distribution for the fourth quarter of 2006. The distribution will be payable on May 15, 2007 to unitholders of record at the close of business on May 7, 2007.
As previously announced, management anticipates that it will recommend to the Board of Directors an increase in the distribution to $0.50 per unit for the second fiscal quarter of 2007, with a further increase in the quarterly distribution rate beginning with the distribution for the third fiscal quarter of 2007, subject to the closing of the acquisition of substantially all of the properties in its recently announced Central/East Texas acquisition.
EV Energy Partners, L.P., is a master limited partnership engaged in acquiring, producing and developing oil and gas properties.
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