EV Energy Partners, L.P. (NASDAQ:EVEP) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k

7 years ago

EV Energy Partners, L.P. (NASDAQ:EVEP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.

On October 23, 2017, EVProperties, L.P., awholly-owned subsidiary of EV Energy Partners, L.P. (“Partnership”), and the Partnership, as a guarantor, entered into a Tenth Amendment (“Amendment”) to its Second Amended and Restated Credit Agreement (“Credit Facility”) with JPMorgan Chase Bank, N.A., as administrative agent, and several lenders party thereto.The Amendment amended the Credit Facility to, among other things:

–	decrease the borrowing base from $375 million to $325 million;

–	increase the required percentage of Mortgaged Properties from 85% to 95%;

–	amend and restate the guaranty and collateral agreement to substantially increase the collateral securing the Credit Facility to cover all personal property;

–	allow for the maintenance of deposit and securities accounts at non-Lender financial institutions subject to a deposit account control agreement on such accounts; and

–	within 15 days of the closing of the Amendment, require Mortgaged Properties to represent at least 98% of the total value of the Oil and Gas Properties evaluated in the most recently completed Reserve Report.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to theAmendment filed as Exhibit 10.1 to this Current Report on Form 8-Kand incorporated herein by reference.

Item 1.01 Financial Statements and Exhibits.

(d)Exhibits.

10.1 Tenth Amendment dated October 23, 2017 to the Second Amended and Restated Credit Agreement.

EV Energy Partners, LP ExhibitEX-10.1 2 evep-20171023xex10_1.htm EXHIBIT 10.1 Exhibit 101 Exhibit 10.1 Execution Version TENTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT AND SECOND AMENDMENT TO SECOND AMENDED AND RESTATED GUARANTY AND COLLATERAL AGREEMENT DATED AS OF October 23,…To view the full exhibit click here
About EV Energy Partners, L.P. (NASDAQ:EVEP)
EV Energy Partners, L.P. is engaged in the acquisition, development and production of oil and natural gas properties and all of its operations are located in the United States. The Company’s oil and natural gas properties are located in the Barnett Shale; the Appalachian Basin, which includes the Utica Shale; the San Juan Basin; Michigan; Central Texas, which includes the Austin Chalk area; the Mid-Continent areas in Oklahoma, Texas, Arkansas, Kansas and Louisiana; the Monroe Field in Northern Louisiana, and the Permian Basin. The Company’s Barnett Shale properties are located in Denton, Montague, Parker, Tarrant and Wise counties in Northern Texas. The Company’s activities are concentrated in the Ohio and West Virginia areas of the Appalachian Basin. The Company’s properties are located in Rio Arriba County, New Mexico and La Plata County in Colorado. The Company’s properties are located in the Antrim Shale reservoir in Otsego and Montmorency counties in northern Michigan.