Reserves | Capital Markets | Private Equity Activity
Eclipse Resources Q4-2015 Impairment Charge Tops $800 Million
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Eclipse Resources Corporation announced proved reserves at December 31, 2015 were 348.8 Bcfe, a less than 2% decrease compared to proved reserves at December 31, 2014 of 355.8 Bcfe, in each case assuming ethane rejection on operated properties with a 30% contractual recovery.
Year-end 2015 proved reserves were approximately 79% operated by the Company, 79% proved developed producing, and 79% natural gas. SEC prices for reserves were calculated as of December 31, 2015 and further calibrated for quality, energy content and market differentials with the average adjusted product price weighted by production over the remaining lives of the properties being $46.73 per Bbl for oil, $2.52 per Mcf for natural gas, $12.88 per Bbl of NGL and $38.20 per Bbl of condensate. Using SEC prices, which are…
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