Distribution

On October 26, 2009, the Board of Directors of ENP's general partner approved a distribution of $24.6 million to be paid on or about November 13, 2009 to unitholders of record on November 9, 2009. The distribution is based on a distribution rate of $0.5375 per unit for the quarter ended September 30, 2009, or $2.15 per unit on an annualized basis.

Summary of Third Quarter 2009 Results

The following table highlights certain reported amounts for the third quarter of 2009 (Common units and $ in millions, except quarterly distribution per unit):

                                                       Three Months EndedSept 30, 2009    
 Adjusted EBITDAX                                      $  38.9                            
 Net income excluding certain items                    $  11.1                            
 Net income                                            $  7.5                             
 Distributable cash flow                               $  34.4                            
 Total distributions to be paid                        $  24.6                            
 Quarterly distribution per unit                       $  0.5375                          
 Coverage ratio                                        1.40                             x 
 Weighted average diluted common units outstanding        44.7                            
 Total units to which Q3 distributions will be paid       45.8                            
 Oil and natural gas revenues                          $  40.9                            
 Average daily production volumes (BOE/D)                 9,301                           
 Oil as a percentage of total production volumes          68                            % 
 Oil and natural gas development & exploration costs   $  1.6                             


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Adjusted EBITDAX totaled $38.9 million for the third quarter of 2009 and distributable cash flow totaled $34.4 million. Adjusted EBITDAX and distributable cash flow are non-GAAP financial measures, which are defined and reconciled to their most directly comparable GAAP measures in the attached financial schedules.

ENP's third quarter results include a non-cash net derivative fair value loss related to future periods of $5.0 million, non-cash unit based compensation of $0.1 million, and net income attributable to owners prior to the third quarter drop-down acquisitions from Encore Acquisition Company ("EAC") accounted for as poolings. Excluding these amounts, net income for the quarter was $11.1 million ($0.25 per diluted common unit). ENP's net income for the third quarter of 2009 was $7.5 million ($0.13 per diluted common unit). Net income excluding certain items is a non-GAAP financial measure, which is defined and reconciled to its most directly comparable GAAP financial measure in the attached financial schedules.

Average daily production for the third quarter of 2009 was 6,289 Bbls of oil per day and 18,077 Mcf of natural gas per day, for a combined 9,301 barrels of oil equivalent per day ("BOE/D").

Jon S. Brumley, Chief Executive Officer and President of ENP's general partner, stated, "The first nine months of 2009 have been excellent for our partnership. The Partnership's production is staying relatively flat with minimal CAPEX, allowing ENP to maintain a robust distribution while also reducing debt. Our hedging strategy has worked, enabling our investors to reap the benefits of higher oil prices while at the same time being protected to the downside. Because of our acquisition program, we were able to increase our distribution by five percent over our second quarter's distribution. We have weathered the commodity price storm and have emerged with a solid balance sheet and a better partnership."

For the third quarter of 2009, the Partnership's average realized wellhead oil price was $60.98 per Bbl, and the average realized wellhead natural gas price was $3.40 per Mcf. During the third quarter of 2009, the Partnership's oil and natural gas differentials to NYMEX averaged a negative 11 percent ($7.26 per Bbl) and zero percent ($0.00 per Mcf), respectively. The average NYMEX oil price was $68.24 per Bbl in the third quarter of 2009, and the average NYMEX natural gas price was $3.40 per Mcf.

Lease operating expense for the third quarter of 2009 was $9.0 million ($10.54 per BOE).

General and administrative ("G&A") expense for the third quarter of 2009 was $2.9 million ($3.40 per BOE).

Depletion, depreciation, and amortization ("DD&A") expense for the third quarter of 2009 was $14.5 million ($16.89 per BOE).

Operations Update

The Partnership invested $1.6 million in its capital program during the third quarter of 2009, completing four gross wells (1.6 net), three of which (0.6 net) were successful.

Acquisitions

During August 2009, the Partnership closed its previously announced acquisition of oil and natural gas producing properties in the Rockies and Permian Basin from EAC for $186.8 million in cash. The acquisition was effective April 1, 2009. The transaction was immediately accretive to ENP's distributable cash flow per unit.

Liquidity Update

At September 30, 2009, ENP had $260 million outstanding under its revolving credit facility and $115 million of remaining availability. The amount outstanding under the revolving credit facility increased $65 million during the third quarter of 2009 due to the acquisition of properties for approximately $186.8 million, partially offset by $129.2 million in net proceeds from a common unit offering.

The syndicate of lenders underwriting ENP's revolving credit facility agreed to increase the Partnership's borrowing base from $240 million to $375 million in conjunction with the closing of the acquisition of properties from EAC in the third quarter of 2009. The next borrowing base redetermination for the Partnership is scheduled for November 2009.

Fourth Quarter 2009 Outlook

The Partnership expects the following for the fourth quarter of 2009:

 Average daily production volumes                            8,700 to 9,300 BOE/D                  
 Oil and natural gas related capital (fourth quarter 2009)   $1.5 to $2.5 million                  
 Lease operating expense                                     $10.75 to $12.00 per BOE              
 G&A expense                                                 $2.75 to $3.25 per BOE                
 DD&A expense                                                $16.75 to $17.25 per BOE              
 Production, ad valorem, and severance taxes                 11.8% of oil and natural gas revenues 
 Oil differential (% of NYMEX)                               -12% of NYMEX oil price               
 Natural gas differential (% of NYMEX)                       0% of NYMEX natural gas price         


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Conference Call Details

Title: Encore Acquisition Company and Encore Energy Partners LP Conference Call

Date and Time: Wednesday, October 28, 2009 at 9:30 a.m. Central Time

Webcast: Listen to the live broadcast via http://www.encoreenp.com

Telephone: Dial 877-356-9552 ten minutes prior to the scheduled time and request the conference call by supplying the title specified above or ID 36635055.

A replay of the conference call will be archived and available via ENP's website at the above web address or by dialing 800-642-1687 and entering conference ID 36635055. The replay will be available through November 12, 2009. International callers can dial 973-935-8270 for the live broadcast or 706-645-9291 for the replay.

About the Partnership

Encore Energy Partners LP was formed by Encore Acquisition Company to acquire, exploit, and develop oil and natural gas properties and to acquire, own, and operate related assets. ENP's assets consist primarily of producing and non-producing oil and natural gas properties in the Big Horn Basin in Wyoming and Montana, the Williston Basin in North Dakota and Montana, the Permian Basin in West Texas and New Mexico, and the Arkoma Basin in Arkansas and Oklahoma.

Cautionary Statement

This press release includes forward-looking statements, which give ENP's current expectations or forecasts of future events based on currently available information. Forward-looking statements are statements that are not historical facts, including expected distributions, the benefits, timing, and mix of acquisitions, expected production volumes, expected expenses, expected taxes, expected capital expenditures, and expected differentials. The assumptions of management and the future performance of ENP are subject to a wide range of business risks and uncertainties and there is no assurance that these statements and projections will be met. Factors that could affect ENP's business include, but are not limited to: the risks associated with drilling of oil and natural gas wells; ENP's ability to find, acquire, market, develop, and produce new reserves; the risk of drilling dry holes; oil and natural gas price volatility; derivative transactions (including the costs associated therewith and the ability of counterparties to perform thereunder); uncertainties in the estimation of proved, probable, and possible reserves and in the projection of future rates of production and reserve growth; inaccuracies in ENP's assumptions regarding items of income and expense and the level of capital expenditures; uncertainties in the timing of exploitation expenditures; operating hazards attendant to the oil and natural gas business; drilling and completion losses that are generally not recoverable from third parties or insurance; potential mechanical failure or underperformance of significant wells; climatic conditions; availability and cost of material and equipment; the risks associated with operating in a limited number of geographic areas; actions or inactions of third-party operators of ENP's properties; diversion of management's attention from existing operations while pursuing acquisitions; availability of capital; the ability of lenders to fulfill their commitments; the strength and financial resources of ENP's competitors; regulatory developments; environmental risks; uncertainties in the capital markets; general economic and business conditions (including the effects of the worldwide economic recession); industry trends; and other factors detailed in ENP's most recent Form 10-K and other filings with the Securities and Exchange Commission. If one or more of these risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected.