May2015CorporatePresentation Company Overview Eclipse has 6.6 Tcfe in Total Resource Potential on 128,000 net core Utica & Marcellus acres(1) Eclipse Resources Assets Key Statistics Market Capitalization(2) 1.4 Billion…
May2015CorporatePresentation 1Q15 Accomplishments Grew average production by 316% from 38 MMcfe/d in the first quarter of 2014 to 160 MMcfe/d in the first quarter of 2015 Production 29% sequential quarterly production increase…
May2015CorporatePresentation Developing Value & Improving Efficiencies Eclipse continues to convert unproved assets into proved reserves, while its drilling plan generates superior growth Net Production (MMcfe/d) Proved Reserves…
May2015CorporatePresentation Efficiently Growing Production through the Drill Bit Highlights Net Production (MMcfe/d) Expect 150% year-over-year production growth from 200 200 2014 to 2015 175 175 185 Grew first quarter…
May2015CorporatePresentation Liquidity, Capitalization & Hedging Highlights Liquidity ( MM)(1) 450 Strong liquidity and hedge position 28 400 Ended first quarter with liquidity of 393 350 125 393 million 300 65% of expected…
May2015CorporatePresentation Peer Leading Growth with Reduced CapEx Eclipse expects to achieve peer leading growth even as the company significantly reduces capital expenditures Consensus Average Production Growth (2015…
May2015CorporatePresentation Top Tier Drilling Performance Eclipse has participated to date in drilling 181 gross Utica Shale wells Days to TD 40 to Total Depth (TD) 31% 67 operated wells faster 36 30 114 non-operated wells…
May2015CorporatePresentation Well Cost Progression Eclipse has reduced its type well drilling and completion costs in each development area through drilling efficiencies, modified casing designs and downward pressure on…
May2015CorporatePresentation 2015 Gas Marketing Summary Access to Gulf Coast and Midwest markets expected to provide 0.40-0.50/Mcf of uplift after transportation expense relative to Dom South in 2015(1) Highlights Q1-15 Sales…
May2015CorporatePresentation Diversified Midstream Strategy Eclipses acreage is centered across a confluence of major pipelines in the country providing significant in- and out-of-basin optionality Highlights The location of…
May2015CorporatePresentation Premier Southern Utica & Rich Marcellus Position(1) Eclipses core acreage position is well delineated in the heart of a world-class play ECR 2 Wells IP Rate 7.6 MMcfe/d 64% Liquids Avg. 7,901…
May2015CorporatePresentation 2015 Type Well Economics Eclipse has expanded its Utica type curve bands across its acreage position into seven areas, utilizing gas in place, thermal maturity expectations, and historical well…
May2015CorporatePresentation Production vs. Type Curves Eclipse has interests in 122 producing Utica Shale Dry Gas Areas gas wells to date 10,000 MMcfe 43 Dry Gas wells 16 Rich Gas wells 63 Condensate wells 1,000 Newer vintage…
May2015CorporatePresentation 2015 Guidance Second Quarter 2015 Full Year 2015 Average Daily Production 170 - 180 MMcfe/d 180 - 190 MMcfe/d % Natural Gas 62 - 64% 67 - 70% % NGL 18 - 20% 15 - 19% % Oil 17 - 19% 13 - 16% Natural…
APPENDIX
May2015CorporatePresentation Highly Experienced Management Team Years in Name Position Prior Experience Industry Benjamin Hulburt President & CEO 14 Thomas Liberatore Chief Operating Officer 34 Matthew DeNezza Chief Financial…
May2015CorporatePresentation Favorable Lease Expiration Schedule 46% of leases have a 5-year extension option Utica Core Area Leasehold Expiration(1) 45% 41.2% 40% 35% 30% 29.1% 25% 20%…
May2015CorporatePresentation Northeast Supply/Demand Balance Significant excess out-of-basin transportation capacity to meet production growth expectations as Eclipse enters the winter of 2015 60 Northeast Supply-Demand and New…
May2015CorporatePresentation Type Curve & Cost Assumptions Condensate / Rich Condensate Lean Condensate Rich Gas Dry Gas West Dry Gas East Marcellus West Marcellus East Rich Gas Identified Net Drilling Locations 25 103 85 51 216…
May2015CorporatePresentation Proved Reserves Summary(1) All Wells - Year-end 2014 Net Oil Net NGL Net Gas Net Total Net PV-10 (MBbls) (MBbls) (MMcf) (MMcfe) (M) PDP 2,967 4,269 93,561 136,978 321,184 SEC PNP/PBP 914 2,489…
May2015CorporatePresentation Operated Producing Well Detail Well Name Completed Lat Length Type Curve Area Turn-to-Sales Month 24-Hr Peak Sales Rate (Mcfe/d) Producing 30-Day Avg Sales Rate(1) (Mcfe/d) % Gas % NGL % Oil Tippens 6HS…
May2015CorporatePresentation Hedging Summary(1) Eclipse Resources 2015 gas production is hedged at an average price of 3.76/MMBtu Volume Weighted Average Natural Gas Hedges Production Period (MMBtu/d) Price (/MMBtu) Natural Gas…
May2015CorporatePresentation Non-GAAP Reconciliations Adjusted EBITDAX Adjusted Net Loss Three Months Ended March 31, March 31, Three Months Ended ( in thousands) 2015 2014 March 31, March 31, Net Loss (34,103) (18,451) ( in…
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