EV Energy Partners is Sitting Pretty in Utica Shale

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From Seeking Alpha:
The Utica shale of eastern Ohio has generated explosive interest over past two years, with the number or drilling rigs doubling over the last year, according to the Energy Information Administration. The play is particularly attractive because it features very high NGL and oil content. According to the Ohio Dept of Natural resources, the formation may hold as much as 5.5 billion barrels of oil.
One company that's well positioned to benefit from interest in the Utica shale is EV Energy Partners (EVEP), an upstream Master Limited Partnership with a $2.5 Billion market cap. EVEP currently holds a vast working interest in the Utica shale, which it plans to sell because the speculative nature of the play makes it inappropriate for a distribution-focused MLP. As we'll see, the market has priced EVEP's Utica acreage far below its likely sale price. A sale that even comes close to previous prices gives EVEP enormous upside potential.
Read the rest of this article here. 

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