Exploration & Production | Reserves | Capital Markets | Private Equity Activity
Eclipse Touts 353 Percent Increase in Proved Reserves
Email
Print 
Bookmark
Eclipse Resources Corporation announced proved reserves at December 31, 2014 were 355.8 Bcfe, a 353% increase compared to proved reserves at December 31, 2013, in each case assuming ethane rejection.
Year-end 2014 proved reserves were 72% operated by the Company, 39% proved developed producing, and 72% natural gas. SEC prices for reserves were calculated as of December 31, 2014 on a weighted average Appalachian index basis and were $94.99 per Bbl for oil and $4.35 per MMBtu for natural gas. Using SEC prices, which are not indicative of current forward prices, the pre-tax present value discounted at 10% of the December 31, 2014 proved reserves was $509.4 million, a 228% increase over year-end 2013.
Eclipse Resources’ proved reserves at December 31, 2013 and 2014 were prepared by Netherland, Sewell & Associates, Inc., the Company’s independent petroleum engineers.