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June 2016 Investor Presentation – Eclipse Resources Corp.

Eclipse Resources Corp. · Jun 8, 2016 · 32 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 1
    Investor Presentation June 2016 NYSEECR
  2. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 2
    June2016IRPresentation Company Overview Eclipse Resources is engaged in the acquisition and development of oil and gas assets in the Appalachian Basin with over 100,000 acres in the Core of the Utica Shale Play Eclipse Utica Shale…
  3. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 3
    June2016IRPresentation Key Investment Highlights Eclipse is currently trading at a significant discount to peers(2) Unparalleled Operational Premier Assets Prudent Business Plan Performance 102,000 Core Utica Shale Acres Leading…
  4. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 4
    June2016IRPresentation Strong Operational Performance Operated Lateral Length (Ft) Operated vs. Non-Op Drilling Days(1) 20,000 18,000 Eclipse 17 Last 20 Wells 18,544 34% Drilled 16,000 Faster 14,000 Non-Op 26…
  5. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 5
    June2016IRPresentation Production Outlook Modest D&C spending in 2H 2016/ 2017 on the completion of DUCs and the restart of a one-rig drilling program generates 40-60% year-over-year production growth in 2017 Highlights Production…
  6. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 6
    June2016IRPresentation 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 4Q 2015 Realized Gas…
  7. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 7
    June2016IRPresentation Declining Cost Structure Eclipse continues to reduce its costs structure in this challenging commodity environment Operating Costs per Mcfe 5.00 Reductions in 2016 mitigated by voluntarily 300.0 curtailing…
  8. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 8
    June2016IRPresentation Liquidity & Debt Reduction Focused on preserving liquidity and improving the balance sheet in a low price environment Highlights Senior Notes ( MM) Q1 2016 ending liquidity of 233 million 550 Conducted open…
  9. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 9
    June2016IRPresentation Single Well Economics (1) Significant economic enhancement achieved through longer laterals Lowest cost per foot Fewer pads constructed Less midstream infrastructure The average lateral length of Eclipses…
  10. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 10
    June2016IRPresentation Super-Lateral Program Eclipse aims to revolutionize the cost structure and returns profile of the Utica Shale through its Super-Lateral program Purple Hayes 1H Highlights ECRs Super-Lateral test well…
  11. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 11
    June2016IRPresentation Hedging(1) Eclipse continues to actively hedge expected production to provide predictable cash flows and limit capital plan execution risk Natural Gas (Mmbtu/d) Oil (Bbl/d) 180,000 4,500 46.00 46.00…
  12. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 12
    June2016IRPresentation Eclipse Q2 & Full Year 2016 Guidance Q2 2016E FY 2016E 2016 Capital Expenditures Low High Low High Avg. Daily Production (MMcfe/d) 200 200 Midstream 2% Land & % Natural Gas 70% 80% 70% 80% Other % NGL…
  13. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 13
    Appendix
  14. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 14
    June2016IRPresentation Firm Transportation and Sales Outlets Firm Transportation Costs (/MMBtu) Annual Average Firm Transportation MMBtu/d 2016 2017 2018 2019 + 0.70 North East 0.61 Texas Eastern - M3 37,500 37,500 37,500 37,500…
  15. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 15
    June2016IRPresentation NGL Infrastructure 1Q16 average realized price of 12.70 per barrel and represents Mount Belvieu Eclipse 17% of total production for the quarter 12% 8% Mariner East II contract to begin in fourth quarter…
  16. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 16
    June2016IRPresentation Non-GAAP Reconciliations Adjusted EBITDAX For the Three Months Ended March 31, March 31, ( in thousands) 2016 2015 Net Loss (40,687) (34,103) Depreciation, depletion & amortization 15,113 42,432…
  17. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 17
    June2016IRPresentation Financial and Operational Summary FY 2014 1Q15 2Q15 3Q15 4Q15 FY 2015 1Q16 2Q16 Guidance FY 2016 Guidance Production Natural Gas (Mcf/d) 54,137 109,614 114,131 145,787 171,891 133,555 150,410 NGL (MBbls/d)…
  18. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 18
    June2016IRPresentation Hedging Summary Volume Weighted Average Natural Gas Hedges Production Period (MMBtu/d) Price (/MMBtu) Natural Gas Swaps 65,000 Current December 2016 3.28 10,000 Ja nua ry 2017 December 2017 2.98 Natural…
  19. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 19
    June2016IRPresentation Favorable Lease Expiration Schedule Eclipse is aggressively amending leases whose primary term is set to expire in 2017 and 2018 to replace the five year lump sum extension option to optional annual payments…
  20. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 20
    June2016IRPresentation Proved Reserves Summary Eclipse has been able to achieve significant growth in proved reserves and proved developed reserves since the commencement of its active drilling program in late 2013 Net Oil Net NGL…
  21. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 21
    June2016IRPresentation Type Curve Areas with OGIPs Eclipse has continued to refine its Gas In Place estimates in the Utica & Marcellus Shale core areas Marcellus Type Curve Area 22
  22. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 22
    June2016IRPresentation Type Curve Summary Very Rich Condensate / Dry Gas Dry Gas Marcellus Rich Condensate Lean Condensate Rich Gas Dry Gas East Condensate Rich Gas West Central East Gas IP Rate (Mcf/d) 2,250 3,600 4,950 10,500…
  23. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 23
    June2016IRPresentation Net Undeveloped Locations Risked Net Undeveloped Locations are calculated by taking Eclipses total net undeveloped acreage and multiplying such amount by a risk factor (to account for inefficient unitization…
  24. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 24
    June2016IRPresentation Dry Gas East (1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics Eclipse Acreage Area 120% Bcfe / 1000' 2.1 Inter-Lateral Spacing (ft.) 850 Lateral Length (ft.) 13,000 100%…
  25. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 25
    June2016IRPresentation Dry Gas Central (1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics Eclipse Acreage Area 100% Bcfe / 1000' 1.9 Inter-Lateral Spacing (ft.) 850 90% Lateral Length (ft.)…
  26. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 26
    June2016IRPresentation Dry Gas West (1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics 90% Eclipse Acreage Area Bcfe / 1000' 1.8 Inter-Lateral Spacing (ft.) 850 80% Lateral Length (ft.) 13,000…
  27. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 27
    June2016IRPresentation Rich Gas (1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics 45% Eclipse Acreage Area Bcfe / 1000' 1.8 Inter-Lateral Spacing (ft.) 850 40% Lateral Length (ft.) 13,000 Gross…
  28. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 28
    June2016IRPresentation Condensate/Rich Gas (1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics Eclipse Acreage Area 45% Bcfe / 1000' 1.4 Inter-Lateral Spacing (ft.) 750 40% Lateral Length (ft.)…
  29. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 29
    June2016IRPresentation Lean Condensate (1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics 50% Eclipse Acreage Area Bcfe / 1000' 0.9 Inter-Lateral Spacing (ft.) 750 45% Lateral Length (ft.)…
  30. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 30
    June2016IRPresentation Rich Condensate(1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics Eclipse Acreage Area 45% Bcfe / 1000' 0.9 Inter-Lateral Spacing (ft.) 750 40% Lateral Length (ft.) 13,000…
  31. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 31
    June2016IRPresentation Very Rich Condensate (1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics Eclipse Acreage Area 45% Bcfe / 1000' 0.7 Inter-Lateral Spacing (ft.) 750 40% Lateral Length (ft.)…
  32. June 2016 Investor Presentation – Eclipse Resources Corp. – slide 32
    June2016IRPresentation Marcellus East (1) Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics Eclipse Acreage Area 100% Bcfe / 1000' 1.6 Inter-Lateral Spacing (ft.) 750 90% Lateral Length (ft.)…

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