January 2017 Key Investment Highlights 105,000 net acres in the core of the Utica Shale and the liquids rich Marcellus Shale 105,000 Net Core Acres Premier Utica 41% of acreage located in the Utica Shale dry gas window and 59% of…
January 2017 Company Overview Eclipse Resources is a pure play E&P engaged in the acquisition and development of oil and gas assets with approximately 105,000 acres in the core of the Utica and Marcellus Shales Eclipse Utica…
January 2017 High Quality Assets Eclipses Utica Dry Gas and Marcellus acreage provide sizable economic returns at current strip pricing, while the Condensate and Rich Gas acreage allow for commodity price diversification and…
January 2017 Completion Design Evolution Eclipse continues to experiment with higher intensity completions while maintaining a flat cost structure, and recently set Halliburtons Southern Region1 record for monthly stages with one…
January 2017 Increasing Returns with Longer Laterals1 Doubling the lateral length from 6,500 to 13,000 substantially increases BTIRRs in both the Dry Gas and Condensate areas Dry Gas Area2 Condensate Area3 6,500 LL 26% 6,500 LL…
January 2017 Utica Dry Gas Economics 13,000 Lateral Dry Gas Type Curves Metrics Daily Gas Production1 Well Cost 11.53 MM IP Rate Dry Gas East Dry Gas West 21.8 MMcf/d 18.2 MMcf/d EUR Dry Gas East Dry Gas West 2.2 Bcf /…
January 2017 Utica Condensate Economics 13,000 Lateral Condensate Type Curves Metrics Daily Gas Production1 10 Lean Condensate (0.9 BCFE/1,000') Well Rich Condensate (0.9 BCFE/1,000') Gas Production (MMcf/Day) Cost Gen 1…
January 2017 Marcellus Condensate Economics 10,000 Lateral Marcellus Type Curves Metrics Daily Gas Production1 12 Well Marcellus (1.6 BCFE/1,000') Gen 1 Gas Production (MMcf/Day) Cost 10 7.44 MM 8 IP 6 Rate Marcellus…
January 2017 Pioneering the Super-Lateral Eclipse has revolutionized 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…
January 2017 Purple Hayes 1H Update Daily Rates The Purple Hayes well has exceeded internal expectations during its first 230 days of production Flat gas production Flat condensate yield Very shallow pressure decline Eclipses…
January 2017 Purple Hayes 1H Update (Contd) The Purple Hayes well utilized a Gen 2 slickwater frac resulting in a lower pressure decline and allowing for a higher rate than type curve estimates Current drawdown = 35…
January 2017 Premier Southern Utica & Rich Marcellus Position1 10 Eclipse Wells 2 Eclipse Wells IP Rate: 4.4 MMcfe/d; 60% Liquids IP Rate: 7.6 MMcfe/d; 64% Liquids Avg. LL: 6,049 Avg. LL: 7,901 5 Eclipse Wells Choke Managed IP…
January 2017 Focus on Operational Performance Eclipse continues to be laser-focused on efficiency and cost control as a way to increase returns and improve cash flow Production Costs per Mcfe1 1.50 Since 2014, production costs…
January 2017 Diversified Midstream Strategy Eclipses acreage is centered across a confluence of major interstate pipelines providing significant in- and out-of-basin optionality Highlights ET Rover Mariner East II Term: 15 years…
January 2017 Firm Gas Transportation Portfolio Sized for Production Growth1 Eclipse's Diverse Firm Gas Transportation Portfolio provides significant optionality to various end markets, with appropriately sized positions to adequately…
January 2017 Liquidity & Debt Reduction Eclipse is focused on maintaining a conservative balance sheet with strong liquidity and a moderate leverage position to fund development of its world-class assets Highlights Successfully…
January 2017 Overview of Eclipses Attractive Hedge Portfolio1 Eclipse continues to actively hedge expected production to provide predictable cash flows and limit capital plan funding risk Recently increased our 2018 natural gas…
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January 2017 Eclipse Q4 & Full Year 2016 Guidance Eclipse expected to rapidly grow production and cash flows in 2016 Q4 2016E FY 2016E Low High Low High Avg. Daily Production (MMcfe/d) 245 250 225 230 2016 Capital Expenditures…
January 2017 Utica and Marcellus Type Curve Areas with Point Pleasant OGIPs 22
January 2017 NGL Infrastructure Q3 2016 avg. realized price of 13.41/Bbl and represents 15% of total production Mount Belvieu Eclipse Mariner East II contract to begin in Q3 2017 Contract to market propane and butane using East…
January 2017 Type Curve Summary Dry Gas Condensate / Lean Rich Very Rich Marcellus Dry Gas East Central Dry Gas West Rich Gas Rich Gas Condensate Condensate Condensate Condensate Gas IP Rate (Mcf/d) 25,200 22,500 21,000 16,500…
January 2017 Type Curve & Cost Assumptions Details Dry Gas Dry Gas Dry Gas Condensate / Lean Rich Very Rich Marcellus Rich Gas East Central West Rich Gas Condensate Condensate Condensate Condensate Type Curve Assumptions Lateral…
January 2017 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…
January 2017 Financial and Operational Summary FY 2014 1Q15 2Q15 3Q15 4Q15 FY 2015 1Q16 2Q16 3Q16 4Q16 Guidance FY 2016 Guidance Production Natural Gas (MMcf/d) 54.1 109.6 114.1 145.8 171.9 135.6 150.4 168.1 167.1 NGL (MBbls/d)…
January 2017 Hedging Summary1 Volume Weighted Average Volume Weighted Average Natural Gas Hedges Production Period Oil Hedges Production Period (MMBtu/d) Price (/MMBtu) (Bbl/d) Price (/Bbl) Natural Gas Swaps Oil Swap 65,000…
January 2017 Proved Reserves Summary1 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…
January 2017 Non-GAAP Reconciliations Adjusted EBITDAX Three Months Ended September 30, 2016 2015 Net loss (26,801) (81,468) Depreciation, depletion and amortization 28,225 67,172 Exploration expense 12,083 3,244 Rig…
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