jr, do you see the word "non-cash" before "net unrealized losses" ? Do you know what that means? Apparently not. Let me explain.
Exploration and production MLPs like EVEP hedge their production with futures (derivatives). Why? Usually to protect their cashflow since the oil and gas markets are volatile. Many times their bankers make them hedge because the bankers want to be assured that the MLP is going to have consistent cashflow to pay their debt. The bankers don't want to lend them money when the price of oil or gas is high and then have the bottom drop out of it. Hedging is a good thing because it locks in the price they get for their production which also supports the distribution to unitholders.
The way the GAAP accounting generally works is that when prices rise, the hedges are not "worth" as much so they have to mark-to-market this decline in value through their income statement, but this should be offset by higher realized prices on the production they sold. Conversely, when prices fall, they get less for their sold production, but the hedges show gains in value. Of course, the prices of oil and nat gas have disconnected so they could have gains on nat gas hedges and losses on oil hedges since the price of oil increased while nat gas decreased.
If you are an investor in MLPs, I would suggest that you focus less on GAAP reported earnings and instead focus on Distributable Cashflow (DCF) since that is what's used to determine our distribution.
Hope this helps. I suspect you are trying to drive the price down with your hysterics so that you can pick up some units a little cheaper.