EV Energy Partners, L.P. and EnerVest announced that Mark A. Houser, current President and Chief Executive Officer of EV Energy Partners, intends to resign his position at the end of February 2015. Mr. Houser plans to remain actively involved with the Company by remaining on the Board of the Partnership.
Following Houser's resignation, the Board of Directors intends to appoint Michael E. Mercer, currently EVEP's Senior Vice President and Chief Financial Officer, as the new President and Chief Executive Officer. In addition, Nicholas P. Bobrowski, currently EVEP's Director of Finance, is expected to be named Vice President and Chief Financial Officer. Both positions are expected to be effective March 1, 2015. Mr. Mercer, along with Ken Mariani, President of EnerVest, Ltd., also will be named to the Board of Directors of the Partnership.
Upon his departure, Mr. Houser will become Chief Executive Officer of the University Lands Office. The Office oversees activities on 2.1 million acres of Permanent University Fund (PUF) lands that serve as a resource for the University of Texas and Texas A&M system institutions. Currently, the PUF manages more than $6 billion generated from the exploration and exploitation of the University lands. Investment income from the PUF is being used to upgrade the educational and academic excellence of both universities' programs.