Encore Energy Partners LP Acquires Permian Basin Oil and Gas Properties and Agrees to Purchase Wyoming Gas Property

HOUSTON--(BUSINESS WIRE)--Encore Energy Partners LP (NYSE: ENP) (the “Partnership” or “ENP”) today announced it has closed on the acquisition of producing oil and natural gas assets in the Permian Basin of West Texas for a net purchase price of $14.8 million from a private seller. The properties acquired by ENP have estimated total net proved reserves of 1.03 million barrels of oil equivalent, of which approximately 87% are oil and natural gas liquids reserves. The properties being acquired are 51% proved developed and the current production is approximately 115 Boe/d. The effective date of the acquisition was May 1, 2011.