Privately held EnerVest Ltd., Houston, and its MLP subsidiary EV Energy Partners LP, Houston, (Nasdaq: EVEP) plan to acquire Ohio and northwestern Pennsylvania producing assets in the Appalachian Basin from Exco Resources Inc., Dallas, (NYSE: XCO) for $145 million. The acquired properties are not prospective for Marcellus shale.

As of year-end 2008, the properties include estimated proved reserves of 1.9 million bbl. of oil and 110.4 billion cu. ft. of gas, or 121.9 billion cu. ft. equivalent. Current net production includes 258 bbl. of oil per day and 12.9 million cu. ft. per day of natural gas, or 14.4 million cu. ft. equivalent per day.

EV Energy will acquire a 17.2% undivided interest in these assets for $25 million. The MLP’s share of the acquisition will involve 11.4 billion cu. ft. of proved reserves as of Sept. 1 (90% gas; 96% proved developed producing) with an estimated 4.2 billion equivalent of Knox formation potential. Current production net to EV Energy is 2.5 million cu. ft. equivalent per day. The reserves-to-production ratio is 12.7 years for proved reserves and 17 years for proved plus Knox potential reserves.

The acquisition is comprised of approximately 3,000 wells producing primarily from the Clinton, Knox, Medina, Bradford and Oriskany formations in Ohio and northwestern Pennsylvania. Significant upside potential exists for drilling in the Knox group formation, where EnerVest has more than six years of experience. The deal involves more than 335,000 gross acres. EnerVest has identified more than 100 potential Knox drilling opportunities that it plans to pursue over the next five years.

EV Energy chairman and chief executive John B. Walker says, “This acquisition provides EVEP with a long-life, predictable base production stream and the opportunity for future production growth in a play where EnerVest has had significant drilling success over the past six years.” EV Energy intends to hedge a substantial portion of the production.

Douglas H. Miller, Exco chief executive, says, “This sale is part of our ongoing effort to divest certain nonstrategic assets. We have now reached agreement on nearly $600 million of such asset sales and will continue our efforts.”

The deal is expected to close by late November. The effective date is Sept. 1. RBC Richardson Barr is advisor to Exco.

EnerVest has in excess of $500 million remaining in its current fund for acquisitions, and it is currently raising capital for its Fund XXII.

Separately, Lisa Stewart’s Sheridan Production Partners, Houston, via subsidiary Sheridan Holding Co. I LLC, plans to acquire all of the producing assets in Oklahoma held by Exco for $540 million, in an exit of the region by Exco.

The assets are in the Golden Trend area and Mocane-Laverne fields. The sale involves estimated proved reserves of 4.8 million bbl. of oil and 223.7 billion cu. ft. of gas, or 252.5 billion cu. ft. of gas equivalent, based on year-end SEC pricing. Current net production includes 919 bbl. of oil per day and 39.1 million cu. ft. per day of gas, or 44.6 million cu. ft. equivalent per day.

The deal also involves Exco’s Tulsa office.

As of year-end 2008, Exco held 360,900 gross acres (240,300 net) including 27,370 gross undeveloped acres (20,100 net) in the Midcontinent with 1,704 gross wells (984 net).

Mocane-Laverne Field is in Beaver, Harper and Ellis counties with year-end proved reserves of 99.7 billion cu. ft. equivalent of proved reserves and 727 gross wells producing from the Morrow, Chester and Cherokee formations. The Golden Trend area is in Grady, Garvin and McClain counties with 151.5 billion cu. ft. of proved reserves at year-end with 549 producing wells from the Sycamore, Hunton, Viola, Woodford, Simpson and Pennsylvania formations. The company identified 731 drilling locations for the region.

The deal is expected to close in November. The effective date is Oct. 1.

Sheridan Production was formed in 2007 with backing from Warburg Pincus. It focuses on mature assets in the U.S. and completed a sale recently involving South Texas assets for $187 million.