Economics : Type Curve

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December 2017 Utica Dry Gas Type Curve1 Gen 3 wells continue to outperform the type curve at target pressure drawdown rates 2018 Type Curve Utica Dry Gas Type Curve BTIRRs 200 stage spacing Completions 100% Slickwater 87% Design 2,600 lbs proppant 66% LL 16,000 Well Cost 16.1 MM Gas IP Rate 28.2 MMcf/d EUR 2.2 Bcf/1,000 % Gas 100% 3.00 / 55 3.30 / 60 Cumulative Gas Production2 15 Avg. Gen 3 2018 Dry Gas Type Curve (2.2 BCF/1,000') Cumulative Gas (Bcf) 10 5 0 0 6 12 18 24 Months on Production 1 Type curve economics assume the middle of the type curve area. 2 Production history based on Eclipse operated wells only, normalized to 16,000 as of 12/1/17. 28
Eclipse Resources Corp.
December 2017

Utica Wells Wellhead Pressure vs. Cumulative Production 30 Mmcfd 10,000 25 Mmcfd 13,200 ft. TVD* 20 Mmcfd 8,000 13,400 ft. TVD* Wellhead Pressure (psi) 18 Mmcfd 11,850 ft. TVD* 6,000 12 Mmcfd 9,206 ft. TVD* 4,000 *TVD (total vertical depth). With an average pressure gradient of .85 to .95 2,000 for these wells, greater TVD equals higher cost and higher pressure 0 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Normalized Gas Cum (Mcf/1000 ft.) EQT Scotts Run CNX Gaut RRC DMC Properties RICE Bigfoot 9H Ranges DMC Properties well one of the best in the Utica 42
Range Resources Corp
December 2017

UTICA ENHANCED COMPLETION UPLIFT Impact of 2017 TILs 120 Wet Gas Slickwater Completions Cumulative Volume, (mboe) 100 80 Enhanced Completions 20 25% uplift in wet gas areas Type Curve Base Design 25% increase in 120 day cumulative volume(1) 60 40 20 0 0 20 40 60 80 100 120 Producing Days Impact of Tighter Cluster Spacing 6.0 Wet Gas 5.0 Cumulative Volume, (bcfe) 30 ft Cluster Spacing 4.0 Tighter Cluster Spacing 3.0 55 ft Cluster Spacing Type Curve 20 45% uplift in wet gas 30 50% uplift in dry gas 2.0 1.0 0.0 0 100 200 300 400 500 600 700 Producing Days (1) Results for 2017 TILs through September 2017 NOVEMBER 2017 UPDATE 13
Chesapeake Energy Corp
November 2017

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