New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 12, 2014
06:52 EDTEVEPEV Energy reports Q1 EPS (14c), may not be comparable to consensus 21c
Reports Q1 revenue $95.34M, consensus $92.62M. Q1 EPS of (14c) includes: $16Mof non-cash losses on commodity and interest rate derivatives, $4.5M of non-cash costs contained in general and administrative expenses, $2.3M of payroll tax related cash costs contained in general and administrative expenses associated with the annual vesting of phantom units during the first quarter which will not be incurred during the second through fourth quarters, $1.5M gain on the sale of oil and natural gas properties, and $300,000 of dry hole and exploration costs.
News For EVEP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 25, 2016
16:09 EDTEVEPEV Energy reduces quarterly cash distribution to 7.5c per unit
EV Energy Partners announced a cash distribution attributable to the fourth quarter of 2015 of $0.075 per unit, or $0.30 on an annualized basis, for all of its outstanding units. The distribution will be payable on February 12, 2016, to unit holders of record at the close of business on February 5, 2016. This distribution represents a $0.425 per unit reduction from the prior quarterly distribution. "Currently, we have liquidity in excess of $375 million, and we anticipate generating free cash flow in the coming year. However, given current forward oil and natural gas prices and the fact that we have less production hedged at lower prices beginning in 2016 relative to previous years, we are reducing our distribution to preserve liquidity and financial flexibility during this ongoing period of low commodity prices. We will continue to make future quarterly distribution decisions based on our performance, realized pricing and long-term value creation. This was a difficult decision, but we believe it was an appropriate one, as we focus on sustaining our business through this industry downturn and position EVEP to generate value for our unitholders as commodity prices rebound," said Michael Mercer, President and Chief Executive Officer.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use