EV Energy Partners, L.P. (EVEP) reported that its fourth-quarter Limited partners' interest net loss was $9.68 million or $0.23 per share, compared to net income of $9.47 million or $0.27 per share in the prior year quarter.
Included in net loss for the latest-quarter were $9.6 million of unrealized losses on commodity and interest rate derivatives, $1.2 million of non-cash realized losses on commodity and interest rate derivatives, $1.1 million of dry hole and exploration costs and $4.0 million of non-cash costs contained in general and administrative expenses. Also recognized during the fourth quarter were $16.7 million of impairment charges primarily related to the write-down of certain oil and natural gas properties to their fair value due to the effects of declining natural gas prices on expected future net cash flows.
Included in net income for the prior year quarter were $2.3 million of unrealized gains on commodity and interest rate derivatives, $1.1 million of non-cash realized losses on commodity and interest rate derivatives, $10.5 million of dry hole and exploration costs, $4.4 million of impairment costs primarily related to assets held for sale, a $4.0 million gain on the sale of assets related to Utica Shale acreage in an agreement with Total and Chesapeake and $3.2 million of non-cash costs contained in general and administrative expenses. Also contained in general and administrative expenses were approximately $2.3 million of due diligence and other transaction costs for acquisitions completed during the quarter.
Total revenues for the quarter rose to $75.50 million from $66.84 million in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share on revenues of $83.93 million for the quarter. Analysts' estimates typically exclude special items.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.