Key Investment Highlights 102,000 net acres in the core of the Utica shale and 13,000 net acres in the liquids rich Marcellus shale Premier Utica and Attractive returns across the portfolio of up to 63%1 Marcellus Assets Deep…
Company Overview Eclipse Resources is a pure play E&P engaged in the acquisition and development of oil and gas assets with over 100,000 acres in the core of the Utica Shale Eclipse Utica Shale Core Asset Area Valuation Market…
Restarting Activity & Growing Production Modest D&C spending in the second half 2016 and 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…
Eclipse Q2 & Full Year 2016 Guidance The Company resumed drilling and completions at the beginning of June and now expects fourth quarter 2016 production to be 240 MMcfe/d, a 20% increase from the Companys previous guidance Q2 2016E…
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 Eclipses Super-Lateral test well in the Utica condensate…
Purple Hayes 1H Update Daily Rates The Purple Hayes well has exceeded internal expectations 7,000 500 during its first 45 days of production 6,000 400 Flat gas production 5,000 Flat condensate yield Bbl/MMcf Mcf/d, PSI 4,000…
Purple Hayes 1H Update 10 Note: BT IRRs shown based on Purple Hayes 1H actual well cost and 3.00/MMBtu gas and 60/Bbl oil, flat. 10
Attractive Single Well Economics1 The average lateral length of Eclipses current operated drilling plan in 2017 is expected to be 13,800 Significant economic enhancement achieved through longer laterals Lower cost per foot Fewer pads…
Diversified Midstream Strategy Eclipses acreage is centered across a confluence of major interstate pipelines providing significant in- and out-of- basin optionality Highlights Rockies Express / ANR South ET Rover Mariner Term: 15…
Firm Gas Transportation Portfolio Sized for Production Growth Eclipse's Diverse Firm Gas Transportation Portfolio provides significant optionality to various end markets, with appropriately sized positions to adequately protect future…
Declining Cost Structure Eclipse continues to reduce its costs structure and anticipates further per unit reductions with recommencement in development activity Reduced cash G&A from 45 million in 2014 to an annual run rate of 25…
Liquidity & Debt Reduction Eclipse is focused on maintaining a conservative balance sheet with strong liquidity to fund development of its world-class assets Strong pro forma liquidity fully funds 2017 plan Highlights Senior Notes…
Overview of Eclipses Attractive Hedge Portfolio Eclipse continues to actively hedge expected production to provide predictable cash flows and limit capital plan funding risk Substantial upside retained in 2017 through use of collars and…
A PPENDIX
Firm Transportation and Sales Outlets Firm Transportation Costs (/MMBtu) Annual Average Firm Transportation 0.61 2016 2017 2018 2019 + 0.56 MMBtu/d 0.54 0.05 North East 0.05 Texas Eastern - M3 37,500 37,500 37,500 37,500 Canada…
NGL Infrastructure Q1 2016 avg. realized price of 12.70/Bbl and represents 17% of total production Mount Belvieu Eclipse Mariner East II contract to begin in Q4 2016 Contract to market propane and butane using East Asia Normal ISO…
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 Exploration expense 15,656 13,453…
Hedging Summary1 Volume Weighted Average Natural Gas Hedges Production Period (MMBtu/d) Price (/MMBtu) Natural Gas Swaps 65,000 Current December 2016 3.28 10,000 January 2017 December 2017 2.98 Natural Gas Call/Put Options Floor sold…
Favorable Lease Expirations Eclipse is aggressively amending its leases whose primary term is set to expire in 2017 and 2018 to replace the five year lump sum extension option with optional annual payments over 5-8 years Utica Core…
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 Net Gas Net Total Net…
Type Curve Summary Very Rich Rich Lean Condensate / Dry Gas Dry Gas Dry Gas Condensate Condensate Condensate Rich Gas Rich Gas West Central East Marcellus Gas IP Rate (Mcf/d) 2,250 3,600 4,950 10,500 16,500 21,000 22,500 25,200 8,250…
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) which is then divided by…
Dry Gas East Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics 120% Eclipse Acreage Area Bcfe / 1000' 2.1 Inter-Lateral Spacing (ft) 850 Lateral Length (ft) 13,000 100% Gross EUR (MMcfe,…
Dry Gas Central Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics 100% Eclipse Acreage Area Bcfe / 1000' 1.9 90% Inter-Lateral Spacing (ft) 850 Lateral Length (ft) 13,000 80% Gross EUR (MMcfe,…
Dry Gas West Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics Eclipse Acreage Area 90% Bcfe / 1000' 1.8 Inter-Lateral Spacing (ft) 850 80% Lateral Length (ft) 13,000 Gross EUR (MMcfe, Post-Processing)…
Rich Gas 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 35% Gross EUR (MMcfe, Post-Processing)…
Condensate / Rich Gas Type Curve Assumptions Map Lateral Length IRR Sensitivity Well Characteristics Eclipse Acreage Area 50% Bcfe / 1000' 1.4 Inter-Lateral Spacing (ft) 750 45% Lateral Length (ft) 13,000 40% Gross EUR (MMcfe,…
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