One great idea engenders another.
EnerVest is built upon a buy-enhance-sell model, which has proven to be an immensely successful strategy. As it happens, our resources and operational expertise also make us uniquely capable of holding on to these assets long term.
To take advantage of these opportunities, we’ve created a separate, publicly traded company. EV Energy Partners, a buy-and-hold entity founded in 2006, acquires assets in one of three ways: it purchases properties on the open market in competitive bids; it also participates in joint acquisitions with EnerVest, which, by combining resources, makes much bigger deals possible; and finally, pending recommendations and approval from the board members and conflicts committee of EV Energy Partners and independent advisors of EnerVest, EV Energy Partners will purchase assets directly from EnerVest.
This arrangement has enabled us to keep valued employees and mitigate market volatility, allowing both companies to focus on and flex their respective strengths. The result has been consistent distributions for both companies.