EV Energy Partners Announces Austin Chalk Acquisition and Additional Commodity Price Hedges

HOUSTON, TX, Jun 10 (MARKET WIRE) --
EV Energy Partners, L.P. (NASDAQ: EVEP) announced it, along with certain
institutional partnerships managed by EnerVest, Ltd., has signed an
agreement to acquire oil and natural gas properties in the Austin Chalk
from an undisclosed seller. EVEP will acquire a 15.15 percent interest in
these assets for $12.2 million.

The acquisition is expected to close by July 1, 2009, and is subject to
customary closing conditions and purchase price adjustments.

The acquisition is comprised of 276 wells producing primarily from the
Austin Chalk formation in six counties in Central Texas. The properties,
and EVEP's share of reserves and production, include:

- 185 of the wells are operated by the seller, and 48 are operated by
EnerVest; EVEP already owns an interest in 84 percent of the wells to be
acquired;

- Estimated proved reserves as of April 1, 2009, net to EVEP, (based on
current strip prices) of approximately 9 BCFE

- 60 percent proved developed producing

- 92 percent natural gas

- 2009 Reserves-to-production ratio of 13.9 years

- Current net daily production to EVEP's interest of approximately 1.8
MMCFE

- 30 currently identified proved undeveloped locations, most of which will
be drilled at lower cost through reentering existing well bores

For the second half of 2009, EVEP expects the following for the properties
to be acquired:

Net Daily Production:
Natural gas (Mcf) 1,550 - 1,750
Crude oil (Bbls) 15 - 18
Natural gas liquids (Bbls) 16 - 20
Total (Mcfe) 1,736 - 1,978

Price Differentials vs. NYMEX:
Natural gas (% of NYMEX Natural Gas) 75% - 80%
Crude oil (% of NYMEX Crude Oil) 96% - 100%
Natural gas liquids (% of NYMEX Crude Oil) 45% - 55%

Lease operating expenses ($/Mcfe) $1.25 - $1.65
Production and other taxes (% of revenues) 4.75% - 5.25%

John B. Walker, Chairman and CEO, said, "The Austin Chalk is
EnerVest's largest and most successful area of operations. This new
acquisition offers many new locations and re-entry possibilities into the
276 well bores that have unexploited Chalk potential."

In conjunction with the acquisition, and consistent with its strategy of
hedging a significant percentage of its production, EVEP intends to enter
into arrangements to hedge a substantial portion of the acquired
production volumes at or prior to closing.

EVEP has also recently entered into additional hedges for 2009 through
2012 for its existing production, as follows:

- 5,000 MMBTU/D of $4.00 natural gas puts for June through December 2009

- 1,800 MMBTU/D of $6.775 natural gas swaps for 2010 through 2012

EV Energy Partners, L.P., is a master limited partnership engaged in
acquiring, producing and developing oil and gas properties. More
information about EVEP is available on the internet at
www.evenergypartners.com.

(code #: EVEP/G)

This press release may include "forward-looking statements" as defined by
the Securities and Exchange Commission (the "SEC"). All statements, other
than statements of historical facts, included in this press release that
address activities, events or developments that the partnership expects,
believes or anticipates will or may occur in the future are
forward-looking statements. These statements are based on certain
assumptions made by EVEP based on its experience and perception of
historical trends, current conditions, expected future developments and
other factors it believes are appropriate in the circumstances. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of EVEP, which may
cause our actual results to differ materially from those implied or
expressed by the forward-looking statements. These include risks relating
to financial performance and results, availability of sufficient cash
flow to pay distributions and execute our business plan, prices and
demand for natural gas and oil, our ability to replace reserves and
efficiently develop our current reserves and other important factors that
could cause actual results to differ materially from those projected as
described in the EVEP's reports filed with the SEC.

The SEC permits oil and gas companies, in their filings with the SEC, to
disclose only proved reserves that a company has demonstrated by actual
production or conclusive formation tests to be economically and legally
producible under existing economic and operating conditions at oil and gas
prices in effect at the time of the estimate, without future escalation.
We include in this press release an estimate of net proved reserves using
strip prices, rather than prices at the time of the estimate, that the
SEC's guidelines strictly prohibit us from including in filings with the
SEC. Investors are urged to consider closely the disclosure in our Annual
Report on Form 10-K, as amended, available from us at
www.evenergypartners.com or from the SEC at www.sec.gov.

Any forward-looking statement speaks only as of the date on which such
statement is made and EVEP undertakes no obligation to correct or update
any forward-looking statement, whether as a result of new information,
future events or otherwise.

EV Energy Partners, L.P.
Michael E. Mercer
713-651-1144
Web site: http://www.evenergypartners.com

Copyright 2009, Market Wire, All rights reserved.

-0-