----

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**UNITED      STATES **

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**Form 10-Q**

**QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES **

**EXCHANGE      ACT OF 1934**

**For      the quarterly period ended March 31, 2007 **

**OR**

**o**
**TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES **

**EXCHANGE      ACT OF 1934**

**001-33024      **

**EV      Energy Partners, L.P.**

| **Delaware**                                                                                       |   | **20-4745690**                                                     |
|----------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|
|  (State                or other jurisdiction of                incorporation or organization) |   | (I.R.S.                Employer Identification                No.) |

| **1001                Fannin, Suite 800, Houston, Texas** |   | **77002**                 |
|----------------------------------------------------------------|--------|---------------------------|
| (Address                of principal executive offices)        |   | (Zip                Code) |

**(713) 659-3500**

| Large                accelerated filer o  |   | Accelerated                filer o  |   | Non-accelerated                filer þ |
|------------------------------------------------|--------|------------------------------------------|--------|---------------------------------------------|

----

----

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**Table      of Contents  **

| PART                I. FINANCIAL INFORMATION                                                                                      |   |   |
|-----------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|                                                                                                                              |   |   |
| Item                1. Financial Statements (unaudited)                                                                           |   | 2      |
| Item                2. Management’s Discussion and Analysis of Financial Condition and Results                of Operations |   | 12     |
| Item                3. Quantitative and Qualitative Disclosures About Market                Risk                                  |   | 17     |
| Item                4. Controls and Procedures                                                                                    |   | 18     |
|                                                                                                                              |   |   |
| PART                II. OTHER INFORMATION                                                                                         |   |   |
|                                                                                                                              |   |   |
| Item                1. Legal Proceedings                                                                                          |   | 19     |
| Item                1A. Risk Factors                                                                                              |   | 19     |
| Item                2. Unregistered Sales of Equity Securities and Use of                Proceeds                                 |   | 19     |
| Item                3. Defaults Upon Senior Securities                                                                            |   | 19     |
| Item                4. Submission of Matters to a Vote of Security Holders                                                        |   | 19     |
| Item                5. Other Information                                                                                          |   | 19     |
| Item                6. Exhibits                                                                                                   |   | 19     |
|                                                                                                                              |   |   |
| Signatures                                                                                                                        |   | 20     |

----

**PART        1. FINANCIAL INFORMATION**

**ITEM        1. FINANCIAL STATEMENTS**

**EV          Energy Partners, L.P.**

**Condensed          Consolidated Balance Sheets**

***(In          thousands)***

***(Unaudited)***

|                                                                                                                                                                                                            |   | **March                  31,****2007** |    | **December                  31,****2006** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------|---------|-------------------------------------------|--------|
| **ASSETS**                                                                                                                                                                                                      |   |                                   |    |                                      |   |
| Current                assets:                                                                                                                                                                                  |   |                                   |    |                                      |   |
| Cash                and cash equivalents                                                                                                                                                                        |   | $                                      | 6,027   |                                      | $      | 1,875 |   |
| Accounts                receivable:                                                                                                                                                                             |   |                                   |    |                                      |   |   |   |
| Oil                and natural gas sales                                                                                                                                                                        |   |                                   | 9,588   |                                      |   | 4,608 |   |
| Related                party                                                                                                                                                                                    |   |                                   | 2,700   |                                      |   | 1,996 |   |
| Other                                                                                                                                                                                                           |   |                                   | 110     |                                      |   | 56 |   |
| Derivative                asset                                                                                                                                                                                 |   |                                   | 3,297   |                                      |   | 5,929 |   |
| Prepaid                expenses and other current assets                                                                                                                                                        |   |                                   | 923     |                                      |   | 790 |   |
| Total                current assets                                                                                                                                                                             |   |                                   | 22,645  |                                      |   | 15,254 |   |
|                                                                                                                                                                                                            |   |                                   |    |                                      |   |   |   |
| Oil                and natural gas properties, net of accumulated depreciation, depletion                and                 amortization;March                31, 2007, $7,539; December 31, 2006, $4,092 |   |                                   | 269,886 |                                      |   | 114,401 |   |
| Other                property, net of accumulated depreciation and amortization;March                31, 2007, $196; December 31, 2006, $195                                                                    |   |                                   | 268     |                                      |   | 283 |   |
| Long-term                derivative asset                                                                                                                                                                       |   |                                   | 753     |                                      |   | 2,286 |   |
| Other                assets                                                                                                                                                                                     |   |                                   | 875     |                                      |   | 465 |   |
| Total                assets                                                                                                                                                                                     |   | $                                      | 294,427 |                                      | $      | 132,689 |   |
|                                                                                                                                                                                                            |   |                                   |    |                                      |   |   |   |
| **LIABILITIES                AND OWNERS’ EQUITY**                                                                                                                                                         |   |                                   |    |                                      |   |   |   |
| Current                liabilities:                                                                                                                                                                             |   |                                   |    |                                      |   |   |   |
| Accounts                payable and accrued liabilities                                                                                                                                                         |   | $                                      | 4,628   |                                      | $      | 3,248 |   |
| Derivative                liability                                                                                                                                                                             |   |                                   | 1,158   |                                      |   | - |   |
| Total                current liabilities                                                                                                                                                                        |   |                                   | 5,786   |                                      |   | 3,248 |   |
|                                                                                                                                                                                                            |   |                                   |    |                                      |   |   |   |
| Asset                retirement obligations                                                                                                                                                                     |   |                                   | 7,993   |                                      |   | 5,188 |   |
| Share-based                compensation liability                                                                                                                                                               |   |                                   | 196     |                                      |   | - |   |
| Long-term                derivative liability                                                                                                                                                                   |   |                                   | 994     |                                      |   | - |   |
| Long-term                debt                                                                                                                                                                                   |   |                                   | 95,100  |                                      |   | 28,000 |   |
|                                                                                                                                                                                                            |   |                                   |    |                                      |   |   |   |
| Commitments                and contingencies                                                                                                                                                                    |   |                                   |    |                                      |   |   |   |
|                                                                                                                                                                                                            |   |                                   |    |                                      |   |   |   |
| Owners’                equity:                                                                                                                                                                            |   |                                   |    |                                      |   |   |   |
| Common                unitholders                                                                                                                                                                               |   |                                   | 172,102 |                                      |   | 77,701 |   |
| Subordinated                unitholders                                                                                                                                                                         |   |                                   | 7,173   |                                      |   | 10,830 |   |
| General                partner interest                                                                                                                                                                         |   |                                   | 1,062   |                                      |   | 3,379 |   |
| Accumulated                other comprehensive income                                                                                                                                                           |   |                                   | 4,021   |                                      |   | 4,343 |   |
| Total                owners’ equity                                                                                                                                                                       |   |                                   | 184,358 |                                      |   | 96,253 |   |
| Total                liabilities and owners’ equity                                                                                                                                                       |   | $                                      | 294,427 |                                      | $      | 132,689 |   |

----

**EV          Energy Partners, L.P.**

**Condensed          Statements of Operations**

***(In          thousands, except per unit data)***

***(Unaudited)***

|                                                                                               |   | **Successor**                                                                 |   |  **Predecessor**                                                       |   |
|----------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------|--------|
|                                                                                               |   | **Three                  Months Ended****March                  31,****2007** |   | **Three                Months Ended****March                  31,****2006** |   |
|                                                                                               |   | *(Consolidated)*                                                              |   |  *(Combined)*                                                          |   |
| Revenues:                                                                                          |   |                                                                          |   |                                                                   |   |
| Oil                and natural gas revenues                                                        |   | $                                                                             | 10,040 |                                                                        | $      | 11,669 |   |
| Gain                (loss) on derivatives, net                                                     |   |                                                                          | 747    |                                                                        |   | (190 | ) |
| Transportation                and marketing-related revenues                                       |   |                                                                          | 1,220  |                                                                        |   | 1,679 |   |
| Total                revenues                                                                      |   |                                                                          | 12,007 |                                                                        |   | 13,158 |   |
|                                                                                               |   |                                                                          |   |                                                                        |   |   |   |
| Operating                costs and expenses:                                             |   |                                                                          |   |                                                                        |   |   |   |
| Lease                operating expenses                                                            |   |                                                                          | 2,306  |                                                                        |   | 1,799 |   |
| Cost                of purchased natural gas                                                       |   |                                                                          | 1,109  |                                                                        |   | 1,558 |   |
| Production                taxes                                                                    |   |                                                                          | 373    |                                                                        |   | 52 |   |
| Exploration                expenses                                                                |   |                                                                          | -      |                                                                        |   | 58 |   |
| Dry                hole costs                                                                      |   |                                                                          | -      |                                                                        |   | 149 |   |
| Asset                retirement obligations accretion expense                                      |   |                                                                          | 91     |                                                                        |   | 44 |   |
| Depreciation,                depletion and amortization                                            |   |                                                                          | 2,032  |                                                                        |   | 1,105 |   |
| General                and administrative expenses                                                 |   |                                                                          | 1,602  |                                                                        |   | 640 |   |
| Management                fees                                                                     |   |                                                                          | -      |                                                                        |   | 35 |   |
| Total                operating costs and expenses                                                  |   |                                                                          | 7,513  |                                                                        |   | 5,440 |   |
|                                                                                               |   |                                                                          |   |                                                                        |   |   |   |
| Operating                income                                                                    |   |                                                                          | 4,494  |                                                                        |   | 7,718 |   |
|                                                                                               |   |                                                                          |   |                                                                        |   |   |   |
| Other                income (expense), net:                                                        |   |                                                                          |   |                                                                        |   |   |   |
| Interest                expense                                                                    |   |                                                                          | (943   | )                                                                           |   | (184 | ) |
| Loss                on mark-to-market derivatives, net                                             |   |                                                                          | (6,245 | )                                                                           |   | - |   |
| Other                income, net                                                                   |   |                                                                          | 92     |                                                                        |   | 143 |   |
| Total                other income (expense), net                                              |   |                                                                          | (7,096 | )                                                                           |   | (41 | ) |
|                                                                                               |   |                                                                          |   |                                                                        |   |   |   |
| (Loss)                income before income taxes and equity in income of                affiliates |   |                                                                          | (2,602 | )                                                                           |   | 7,677 |   |
| Income                taxes                                                                        |   |                                                                          | -      |                                                                        |   | (1,545 | ) |
| Equity                in income of affiliates                                                      |   |                                                                          | -      |                                                                        |   | 90 |   |
| Net                (loss) income                                                                   |   | $                                                                             | (2,602 | )                                                                           | $      | 6,222 |   |
| General                partner’s interest in net loss                                        |   | $                                                                             | (52    | )                                                                           |   |   |   |
| Limited                partners’ interest in net loss                                        |   | $                                                                             | (2,550 | )                                                                           |   |   |   |
| Net                loss per limited partner unit:                                                  |   |                                                                          |   |                                                                        |   |   |   |
| Common                units (basic and diluted)                                                    |   | $                                                                             | (0.28  | )                                                                           |   |   |   |
| Subordinated                units (basic and diluted)                                              |   | $                                                                             | (0.28  | )                                                                           |   |   |   |
| Weighted                average limited partner units outstanding:                                 |   |                                                                          |   |                                                                        |   |   |   |
| Common                units (basic and diluted)                                                    |   |                                                                          | 5,938  |                                                                        |   |   |   |
| Subordinated                units (basic and diluted)                                              |   |                                                                          | 3,100  |                                                                        |   |   |   |

----

**EV        Energy Partners, L.P.**

**Condensed        Statements of Cash Flows**

***(In        thousands)***

***(Unaudited)***

|                                                                                                                                    |   | **Successor**                                                                 |     |  **Predecessor**                                                       |   |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|----------|-----------------------------------------------------------------------------|--------|
|                                                                                                                                    |   | **Three                  Months Ended****March                  31,****2007** |     | **Three                Months Ended****March                  31,****2006** |   |
|                                                                                                                                    |   | *(Consolidated)*                                                              |     |  *(Combined)*                                                          |   |
|                                                                                                                                    |   |                                                                          |     |                                                                   |   |
| Cash                flows from operating activities:                                                                                    |   |                                                                          |     |                                                                   |   |
| Net                (loss) income                                                                                                        |   | $                                                                             | (2,602   | )                                                                           | $      | 6,222 |   |
| Adjustments                to reconcile net income to net cash flows provided by    operating                activities: |   |                                                                          |     |                                                                        |   |   |   |
| Asset                retirement obligations accretion expense                                                                           |   |                                                                          | 91       |                                                                        |   | 44 |   |
| Dry                hole costs                                                                                                           |   |                                                                          | -        |                                                                        |   | 149 |   |
| Depreciation,                depletion and amortization                                                                                 |   |                                                                          | 2,032    |                                                                        |   | 1,105 |   |
| Share-based                compensation cost                                                                                            |   |                                                                          | 196      |                                                                        |   | - |   |
| Amortization                of deferred loan costs                                                                                      |   |                                                                          | 27       |                                                                        |   | - |   |
| Unrealized                loss on derivatives, net                                                                                      |   |                                                                          | 7,695    |                                                                        |   | - |   |
| Provision                for deferred taxes                                                                                             |   |                                                                          | -        |                                                                        |   | 92 |   |
| Equity                in income of affiliates, net of distributions                                                                     |   |                                                                          | -        |                                                                        |   | (59 | ) |
| Changes                in operating assets and liabilities:                                                                             |   |                                                                          |     |                                                                        |   |   |   |
| Accounts                receivable                                                                                                      |   |                                                                          | 1,020    |                                                                        |   | 2,463 |   |
| Prepaid                expenses and other current assets                                                                                |   |                                                                          | 117      |                                                                        |   | 97 |   |
| Other                assets                                                                                                             |   |                                                                          | (285     | )                                                                           |   | 3 |   |
| Accounts                payable and accrued liabilities                                                                                 |   |                                                                          | 726      |                                                                        |   | (3,533 | ) |
| Due                to affiliates                                                                                                        |   |                                                                          | -        |                                                                        |   | (2,099 | ) |
| Income                taxes                                                                                                             |   |                                                                          | -        |                                                                        |   | 1,453 |   |
| Other                current liabilities                                                                                                |   |                                                                          | -        |                                                                        |   | (31 | ) |
| Net                cash flows provided by operating activities                                                                          |   |                                                                          | 9,017    |                                                                        |   | 5,906 |   |
|                                                                                                                                    |   |                                                                          |     |                                                                        |   |   |   |
| Cash                flows from investing activities:                                                                                    |   |                                                                          |     |                                                                        |   |   |   |
| Acquisitions                of oil and natural gas properties                                                                           |   |                                                                          | (160,944 | )                                                                           |   | - |   |
| Development                of oil and natural gas properties                                                                       |   |                                                                          | (1,897   | )                                                                           |   | (1,419 | ) |
| Investment                in equity investee                                                                                       |   |                                                                          | -        |                                                                        |   | (25 | ) |
| Net                cash flows used in investing activities                                                                              |   |                                                                          | (162,841 | )                                                                           |   | (1,444 | ) |
|                                                                                                                                    |   |                                                                          |     |                                                                        |   |   |   |
| Cash                flows from financing activities:                                                                                    |   |                                                                          |     |                                                                        |   |   |   |
| Debt                borrowings                                                                                                          |   |                                                                          | 163,600  |                                                                        |   | - |   |
| Repayment                of debt borrowings                                                                                             |   |                                                                          | (96,500  | )                                                                           |   | - |   |
| Deferred                loan costs                                                                                                      |   |                                                                          | (153     | )                                                                           |   | - |   |
| Proceeds                from private equity offering                                                                                    |   |                                                                          | 100,000  |                                                                        |   | - |   |
| Offering                costs                                                                                                           |   |                                                                          | (70      | )                                                                           |   | - |   |
| Distributions                to partners and dividends paid                                                                             |   |                                                                          | (3,100   | )                                                                           |   | (9,011 | ) |
| Distributions                related to acquisitions                                                                                    |   |                                                                          | (5,801   | )                                                                           |   | - |   |
| Net                cash flows provided by (used in) financing activities                                                                |   |                                                                          | 157,976  |                                                                        |   | (9,011 | ) |
|                                                                                                                                    |   |                                                                          |     |                                                                        |   |   |   |
| Increase                (decrease) in cash and cash equivalents                                                                         |   |                                                                          | 4,152    |                                                                        |   | (4,549 | ) |
| Cash                and cash equivalents - beginning of period                                                                          |   |                                                                          | 1,875    |                                                                        |   | 7,159 |   |
| Cash                and cash equivalents - end of period                                                                                |   | $                                                                             | 6,027    |                                                                        | $      | 2,610 |   |

----

**EV        Energy Partners, L.P.**

**Notes        to Unaudited Condensed Consolidated/Combined Financial        Statements**

**NOTE      1. ORGANIZATION AND NATURE OF BUSINESS**

|  | · | EV                Properties, L.P. (“EV Properties”), a limited partnership that owned oil                and natural gas properties and related assets in the Monroe field                in                Northern Louisiana and in the Appalachian Basin in West Virginia,                and |
|--|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | CGAS                Exploration, Inc. (“CGAS Exploration”), a corporation that owned oil and                natural gas properties and related assets in the Appalachian Basin                in                Ohio. |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | EnerVest                Production Partners, Ltd. (“EnerVest Production Partners”) that owned oil                and natural gas properties and related assets in the Monroe field                in                Northern Louisiana, and |
|--|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | EnerVest                WV, L.P. (“EnerVest WV”) that owned oil and natural gas properties and                related assets in West Virginia. |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Basis      of Presentation**

|  | · | the                combined operations of EnerVest Production Partners, EnerVest WV                and CGAS                Exploration for periods before May 12, 2006,                and |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | the                combined operations of EV Properties and CGAS Exploration from May                12,                2006 through September 30, 2006. |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

**Interim      Financial Statements**

----

**EV        Energy Partners, L.P.**

**Notes        to Unaudited Condensed Consolidated/Combined Financial Statements        (continued)**

**NOTE      2. SHARE-BASED COMPENSATION**

*Share-Based      Payment *

**NOTE      3. ACQUISITIONS**

|                                                           |   | **Michigan** |   | **Monroe** |   |
|----------------------------------------------------------------|--------|--------------|--------|------------|--------|
| Accounts                receivable - oil and natural gas sales |   | $            | 1,224  |       | $      | 5,534 |   |
| Prepaid                expenses and other current assets       |   |         | 1,942  |       |   | 214 |   |
| Other                assets                                    |   |         | 218    |       |   | - |   |
| Oil                and natural gas properties                  |   |         | 64,374 |       |   | 91,214 |   |
| Accounts                payable and accrued liabilities        |   |         | (34    | )          |   | (629 | ) |
| Asset                retirement obligations                    |   |         | (1,244 | )          |   | (1,456 | ) |
| Accumulated                other comprehensive income          |   |         | (424   | )          |   | - |   |
| Allocation                of purchase price                    |   | $            | 66,056 |       | $      | 94,877 |   |

----

**EV        Energy Partners, L.P.**

**Notes        to Unaudited Condensed Consolidated/Combined Financial Statements        (continued)**

|                                              |   | **Successor**                                                                 |   |  **Predecessor**                                                         |   |
|---------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|
|                                              |   | **Three                  Months Ended****March                  31,****2007** |   | **Three                  Months Ended****March                  31,****2006** |   |
| Revenues                                          |   | $                                                                             | 20,489 |                                                                          | $      | 28,699 |   |
| Net                (loss) income                  |   |                                                                          | (1,188 | )                                                                             |   | 11,714 |   |
| Net                loss per limited partner unit: |   |                                                                          |   |                                                                          |   |   |   |
| Basic                                             |   | $                                                                             | (0.13  | )                                                                             |   |   |   |
| Diluted                                           |   | $                                                                             | (0.13  | )                                                                             |   |   |   |

**NOTE      4. RISK MANAGEMENT**

| **Period                Covered**     |   | **Index** |                               | **Hedged                Volume per day (Bbl or MMBtu)** |   | **Weighted                Average Fixed Price** |   | **Weighted                Average Floor Price** |   | **Weighted                Average Ceiling****Price** |   |
|---------------------------------------|--------|-----------|------------------------------------|---------------------------------------------------------|--------|-------------------------------------------------|--------|-------------------------------------------------|--------|------------------------------------------------------|--------|
| Oil:                                  |   |      |                               |                                                    |   |                                            |   |                                            |   |                                                 |   |
| Swaps                - 2007           |   |      | WTI                                |                                                    |   | 250                                             |   | $                                               | 71.350 |                                                 | $      |   |   | $ |   |   |
| Collar                - 2008          |   |      | WTI                                |                                                    |   | 125                                             |   |                                            |   |                                                 |   | 62.000 |   |   | 73.950 |   |
| Collar                - 2009          |   |      | WTI                                |                                                    |   | 125                                             |   |                                            |   |                                                 |   | 62.000 |   |   | 73.900 |   |
|                                  |   |      |                               |                                                    |   |                                            |   |                                            |   |                                                 |   |   |   |   |   |   |
| Natural                Gas:           |   |      |                               |                                                    |   |                                            |   |                                            |   |                                                 |   |   |   |   |   |   |
| Swaps                - 2007           |   |      | Dominion                Appalachia |                                                    |   | 3,100                                           |   |                                            | 10.265 |                                                 |   |   |   |   |   |   |
| Swaps                - 2008           |   |      | Dominion                Appalachia |                                                    |   | 2,700                                           |   |                                            | 9.750  |                                                 |   |   |   |   |   |   |
| Swap                - 02/07 - 12/07   |   |      | NYMEX                              |                                                    |   | 1,000                                           |   |                                            | 7.450  |                                                 |   |   |   |   |   |   |
| Swap                - 04/07 - 12/07   |   |      | NYMEX                              |                                                    |   | 2,500                                           |   |                                            | 7.870  |                                                 |   |   |   |   |   |   |
| Swaps                - 2007           |   |      | NYMEX                              |                                                    |   | 2,000                                           |   |                                            | 9.870  |                                                 |   |   |   |   |   |   |
| Collar                - 04/07 - 12/07 |   |      | NYMEX                              |                                                    |   | 2,500                                           |   |                                            |   |                                                 |   | 7.250 |   |   | 9.050 |   |
| Swaps                - 2008           |   |      | NYMEX                              |                                                    |   | 4,000                                           |   |                                            | 8.850  |                                                 |   |   |   |   |   |   |
| Collars                - 2008         |   |      | NYMEX                              |                                                    |   | 4,000                                           |   |                                            |   |                                                 |   | 7.500 |   |   | 9.730 |   |
| Swaps                - 2009           |   |      | NYMEX                              |                                                    |   | 4,500                                           |   |                                            | 7.990  |                                                 |   |   |   |   |   |   |
| Collars                - 2009         |   |      | NYMEX                              |                                                    |   | 5,000                                           |   |                                            |   |                                                 |   | 7.700 |   |   | 9.080 |   |
| Swap                - 02/07 - 12/07   |   |      | MICHCON_NB                         |                                                    |   | 2,000                                           |   |                                            | 10.255 |                                                 |   |   |   |   |   |   |
| Collar                - 02/07 - 12/07 |   |      | MICHCON_NB                         |                                                    |   | 3,000                                           |   |                                            |   |                                                 |   | 8.000 |   |   | 9.270 |   |
| Swap                - 2008            |   |      | MICHCON_NB                         |                                                    |   | 2,000                                           |   |                                            | 8.100  |                                                 |   |   |   |   |   |   |
| Collar                -2008           |   |      | MICHCON_NB                         |                                                    |   | 2,000                                           |   |                                            |   |                                                 |   | 8.000 |   |   | 9.550 |   |
| Swap                - 2009            |   |      | MICHCON_NB                         |                                                    |   | 4,000                                           |   |                                            | 8.110  |                                                 |   |   |   |   |   |   |

*Accounting      for Derivative Instruments and Hedging Activities, as amended. *
*.*

----

**EV        Energy Partners, L.P.**

**Notes        to Unaudited Condensed Consolidated/Combined Financial Statements        (continued)**

**NOTE      5. LONG-TERM DEBT**

**NOTE      6. COMMITMENTS AND CONTINGENCIES**

**Litigation**

**Environmental      Matters**

----

**EV        Energy Partners, L.P.**

**Notes        to Unaudited Condensed Consolidated/Combined Financial Statements        (continued)**

**NOTE      7. OWNERS’ EQUITY**

**NOTE      8. COMPREHENSIVE (LOSS) INCOME **

|                                                                 |   | **Successor**                                                                 |   |  **Predecessor**                                                             |   |
|----------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------|--------|
|                                                                 |   | **Three                  Months Ended****March                  31,****2007** |   |  **Three                Months Ended****March                  31,****2006** |   |
| Net                (loss) income                                     |   | $                                                                             | (2,602 | )                                                                                 | $      | 6,222 |   |
| Other                comprehensive (loss) income:                    |   |                                                                          |   |                                                                              |   |   |   |
| Unrealized                gain on derivatives assumed in acquisition |   |                                                                          | 424    |                                                                              |   | - |   |
| Unrealized                gains on derivatives                       |   |                                                                          | -      |                                                                              |   | 5,534 |   |
| Reclassification                adjustment into earnings             |   |                                                                          | (747   | )                                                                                 |   | 104 |   |
| Comprehensive                (loss) income                           |   | $                                                                             | (2,925 | )                                                                                 | $      | 11,860 |   |

**NOTE      9. NET LOSS PER LIMITED PARTNER UNIT**

*Participating      Securities and the Two-Class Method under FASB Statement      No. 128*

|                                                                 |       | **Successor**                                                          | ** ** |
|----------------------------------------------------------------------|------------|------------------------------------------------------------------------|------------|
| ** **                                                           | ** ** | **Three                Months Ended****March                31, 2007** | ** ** |
| ** **                                                           | ** ** | ** $**                                                            | ** ** | **Per                Limited Partner Unit** |   |
| Net                loss                                              |       | $                                                                      | (2,602     | ) |   |   |   |
| Less:                General partner’s 2% interest in net loss |       |                                                                   | 52         |   |   |   |   |
| Net                loss available for limited partners               |       | $                                                                      | (2,550     | ) | $ | (0.28 | ) |

----

**EV        Energy Partners, L.P.**

**Notes        to Unaudited Condensed Consolidated/Combined Financial Statements        (continued)**

**NOTE      10. RELATED PARTY TRANSACTIONS**

**Successor**

**Predecessor**

----

**EV        Energy Partners, L.P.**

**Notes        to Unaudited Condensed Consolidated/Combined Financial Statements        (continued)**

**NOTE      11. OTHER SUPPLEMENTAL INFORMATION**

|                                                                                                                                                  |   | **Successor**                                                                 |   |  **Predecessor**                                                       |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------|--------|
|                                                                                                                                                  |   | **Three                  Months Ended****March                  31,****2007** |   | **Three                Months Ended****March                  31,****2006** |   |
| Supplemental                cash flows information:                                                                                                   |   |                                                                          |   |                                                                   |   |
| Cash                paid for interest                                                                                                                 |   | $                                                                             | 379    |                                                                        | $      | 188 |   |
| Cash                paid for income taxes                                                                                                             |   |                                                                          | -      |                                                                        |   | 235 |   |
|                                                                                                                                                  |   |                                                                          |   |                                                                        |   |   |   |
| Non-cash                transactions:                                                                                                                 |   |                                                                          |   |                                                                        |   |   |   |
| Costs                for development of oil and natural gas properties in accounts                payable and                accrued liabilities |   |                                                                          | (8     | )                                                                           |   | - |   |
| Reduction                in debt through partner contribution                                                                                         |   |                                                                          | -      |                                                                        |   | 150 |   |

**NOTE      12. NEW ACCOUNTING STANDARDS**

*Fair      Value Measurements,*

*The      Fair Value Option for Financial Assets and Financial Liabilities - Including      an      amendment of FASB Statement No. 115*

**NOTE      13. SUBSEQUENT EVENT**

----

**ITEM      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF      OPERATIONS**

*Management’s      Discussion and Analysis of Financial Condition and Results of Operations should      be read in conjunction with our condensed consolidated/combined financial      statements and the related notes thereto, as well as our Annual Report on Form      10-K for the year ended December 31, 2006.*

**OVERVIEW**

|  | · | EV                Properties, a limited partnership that owned oil and natural gas                properties and related assets in the Monroe Field in Northern Louisiana                and in the Appalachian Basin in West Virginia,                and |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | CGAS                Exploration, a corporation that owned oil and natural gas properties                and                related assets in the Appalachian Basin primarily in                Ohio. |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | EnerVest                Production Partners, a limited partnership that owned oil and natural                gas                properties and related assets in the Monroe Field in Northern Louisiana,                and |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | EnerVest                WV, a limited partnership that owned oil and natural gas properties                and                related assets in West Virginia. |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | CGAS                Exploration incurred substantial expenses related to exploration                activities, which we do not plan to                do; |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | the                contracts under which our predecessors reimbursed EnerVest for general                and                administrative costs were different than the contracts under which                we will                reimburse EnerVest in the future;                and |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | our                predecessors did not incur the additional costs of being a public                company. |
|--|--------|--------------------------------------------------------------------------------------------------------------|

**Recent      Acquisitions**

----

**Issuance      of Common Units in 2007**

**Our      Assets**

**BUSINESS      ENVIRONMENT**

|  | · | the                prices at which we will sell our oil and natural gas                production; |
|--|--------|----------------------------------------------------------------------------------------------------|

|  | · | our                ability to hedge commodity prices; |
|--|--------|-------------------------------------------------------|

|  | · | the                amount of oil and natural gas we produce;                and |
|--|--------|---------------------------------------------------------------------------------|

|  | · | the                level of our operating and administrative                costs. |
|--|--------|------------------------------------------------------------------------------------|

----

**RESULTS      OF OPERATIONS**

|                                                    |   | **Successor****(1)**                                                          |   |  **Predecessor**                                                                               |   |
|---------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------|--------|
|                                                    |   | **Three                  Months Ended****March                  31,****2007** |   |                  **Three                  Months Ended****March                  31,****2006** |   |
| Production                data:                         |   |                                                                          |   |                                                                                           |   |
| Oil                (MBbls)                              |   |                                                                          | 31     |                                                                                                |   | 50 |   |
| Natural                gas (MMcf)                       |   |                                                                          | 1,158  |                                                                                                |   | 986 |   |
| Net                production (MMcfe)                   |   |                                                                          | 1,346  |                                                                                                |   | 1,285 |   |
| Average                sales price per unit:            |   |                                                                          |   |                                                                                                |   |   |   |
| Oil                (Bbl)                                |   | $                                                                             | 54.53  |                                                                                                | $      | 58.78 |   |
| Natural                gas (Mcf)                        |   |                                                                          | 7.19   |                                                                                                |   | 8.86 |   |
| Average                unit cost per Mcfe:              |   |                                                                          |   |                                                                                                |   |   |   |
| Production                costs:                        |   |                                                                          |   |                                                                                                |   |   |   |
| Lease                operating expenses                 |   | $                                                                             | 1.71   |                                                                                                | $      | 1.40 |   |
| Production                taxes                         |   |                                                                          | 0.28   |                                                                                                |   | 0.04 |   |
| Total                                                   |   |                                                                          | 1.99   |                                                                                                |   | 1.44 |   |
| Depreciation,                depletion and amortization |   |                                                                          | 1.51   |                                                                                                |   | 0.86 |   |
| General                and administrative expenses      |   |                                                                          | 1.19   |                                                                                                |   | 0.53 |   |

----

| (1) | In                connection with our initial public offering, we acquired substantially                all                of the assets and operations of EV Properties and approximately one-half                of the assets and operations of CGAS Exploration. The financial statements                of our predecessors, therefore, include substantial operations that                we did                not acquire. In addition, |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | CGAS                Exploration incurred substantial expenses related to exploration                activities, which we do not plan to                do; |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | the                contracts under which our predecessors reimbursed EnerVest for general                and                administrative costs were different than the contracts under which                we will                reimburse EnerVest in the future;                and |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | our                predecessors did not incur the additional costs of being a public                company. |
|--|--------|--------------------------------------------------------------------------------------------------------------|

**Revenues**

----

**LIQUIDITY      AND CAPITAL RESOURCES**

----

**Available      Credit Facility**

**Cash      Flows**

|                                |   | **Successor** |     |  **Predecessor** |   |
|-------------------------------------|--------|---------------|----------|-----------------------|--------|
| Operating                activities |   | $             | 9,017    |                  | $      | 5,906 |   |
| Investing                activities |   |          | (162,841 | )                     |   | (1,444 | ) |
| Financing                activities |   |          | 157,976  |                  |   | (9,011 | ) |

*Operating      Activities*

*Investing      Activities*

*Financing      Activities*

----

**NEW      ACCOUNTING STANDARDS**

*Fair      Value Measurements,*

*The      Fair Value Option for Financial Assets and Financial Liabilities - Including      an      amendment of FASB Statement No. 115*

**FORWARD-LOOKING      STATEMENTS**

**ITEM      3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET      RISK**

**Commodity      Price Risk**

----

| **Period                Covered**     |   | **Index** |                               | **Hedged                Volume per day (Bbl or MMBtu)** |   | **Weighted                Average Fixed Price** |   | **Weighted                Average Floor Price** |   | **Weighted                Average Ceiling****Price** |   |
|---------------------------------------|--------|-----------|------------------------------------|---------------------------------------------------------|--------|-------------------------------------------------|--------|-------------------------------------------------|--------|------------------------------------------------------|--------|
| Oil:                                  |   |      |                               |                                                    |   |                                            |   |                                            |   |                                                 |   |
| Swaps                - 2007           |   |      | WTI                                |                                                    |   | 250                                             |   | $                                               | 71.350 |                                                 | $      |   |   | $ |   |   |
| Collar                - 2008          |   |      | WTI                                |                                                    |   | 125                                             |   |                                            |   |                                                 |   | 62.000 |   |   | 73.950 |   |
| Collar                - 2009          |   |      | WTI                                |                                                    |   | 125                                             |   |                                            |   |                                                 |   | 62.000 |   |   | 73.900 |   |
|                                  |   |      |                               |                                                    |   |                                            |   |                                            |   |                                                 |   |   |   |   |   |   |
| Natural                Gas:           |   |      |                               |                                                    |   |                                            |   |                                            |   |                                                 |   |   |   |   |   |   |
| Swaps                - 2007           |   |      | Dominion                Appalachia |                                                    |   | 3,100                                           |   |                                            | 10.265 |                                                 |   |   |   |   |   |   |
| Swaps                - 2008           |   |      | Dominion                Appalachia |                                                    |   | 2,700                                           |   |                                            | 9.750  |                                                 |   |   |   |   |   |   |
| Swap                - 02/07 - 12/07   |   |      | NYMEX                              |                                                    |   | 1,000                                           |   |                                            | 7.450  |                                                 |   |   |   |   |   |   |
| Swap                - 04/07 - 12/07   |   |      | NYMEX                              |                                                    |   | 2,500                                           |   |                                            | 7.870  |                                                 |   |   |   |   |   |   |
| Swaps                - 2007           |   |      | NYMEX                              |                                                    |   | 2,000                                           |   |                                            | 9.870  |                                                 |   |   |   |   |   |   |
| Collar                - 04/07 - 12/07 |   |      | NYMEX                              |                                                    |   | 2,500                                           |   |                                            |   |                                                 |   | 7.250 |   |   | 9.050 |   |
| Swaps                - 2008           |   |      | NYMEX                              |                                                    |   | 4,000                                           |   |                                            | 8.850  |                                                 |   |   |   |   |   |   |
| Collars                - 2008         |   |      | NYMEX                              |                                                    |   | 4,000                                           |   |                                            |   |                                                 |   | 7.500 |   |   | 9.730 |   |
| Swaps                - 2009           |   |      | NYMEX                              |                                                    |   | 4,500                                           |   |                                            | 7.990  |                                                 |   |   |   |   |   |   |
| Collars                - 2009         |   |      | NYMEX                              |                                                    |   | 5,000                                           |   |                                            |   |                                                 |   | 7.700 |   |   | 9.080 |   |
| Swap                - 02/07 - 12/07   |   |      | MICHCON_NB                         |                                                    |   | 2,000                                           |   |                                            | 10,255 |                                                 |   |   |   |   |   |   |
| Collar                - 02/07 - 12/07 |   |      | MICHCON_NB                         |                                                    |   | 3,000                                           |   |                                            |   |                                                 |   | 8.000 |   |   | 9.270 |   |
| Swap                - 2008            |   |      | MICHCON_NB                         |                                                    |   | 2,000                                           |   |                                            | 8.100  |                                                 |   |   |   |   |   |   |
| Collar                -2008           |   |      | MICHCON_NB                         |                                                    |   | 2,000                                           |   |                                            |   |                                                 |   | 8.000 |   |   | 9.550 |   |
| Swap                - 2009            |   |      | MICHCON_NB                         |                                                    |   | 4,000                                           |   |                                            | 8.110  |                                                 |   |   |   |   |   |   |

*Accounting      for Derivative Instruments and Hedging Activities*

**ITEM      4. CONTROLS AND PROCEDURES**

**Evaluation      of Disclosure Controls and Procedures** 

**Change      in Internal Controls Over Financial Reporting**

----

**PART      II. OTHER INFORMATION**

**ITEM      1. LEGAL PROCEEDINGS** 

**ITEM      1A. RISK FACTORS** 

**ITEM      2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF      PROCEEDS** 

**Unregistered      Sales of Equity Securities**

**ITEM      3. DEFAULTS UPON SENIOR SECURITIES**

**ITEM      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS** 

**ITEM      5. OTHER INFORMATION**

**ITEM      6. EXHIBITS**

----

**SIGNATURES**

|                                                    |                                                                              |                                    |
|---------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------|
|                                                    | **EV                Energy Partners, L.P.****(Registrant)**                       |
|                                               |                                                                         |                               |
| Date: May              14,              2007  | By:                                                                     | /s/ MICHAEL              E. MERCER |
|                                                    | Michael E. MercerSenior Vice President and Chief Financial                Officer |

----

**EXHIBIT      INDEX**

| 31.1 | Rule 13a-14(a)/15d-14(a)                Certification of Chief Executive Officer. |
|------|----------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| 31.2 | Rule 13a-14(a)/15d-14(a) Certification of              Chief Financial Officer. |
|------|--------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| 32.1 | Section 1350 Certification of Chief              Executive Officer |
|------|-------------------------------------------------------------------------|
|   |   |
|--------|--------|
| 32.2 | Section 1350 Certification of Chief              Financial              Officer |
|------|---------------------------------------------------------------------------------|
|   |   |
|--------|--------|
|   |   |
|--------|--------|

----