Investment Highlights Premier Appalachian Acreage Position 99,300 net acre position located in the core of the Utica play Eclipse Resources Activity 26,400 net acre position located in the Highly Liquids Rich area of the Marcellus…
Top Tier Return Potential Eclipses acreage position is located in the Utica Core and Highly Liquids Rich Marcellus Plays which have demonstrated top tier returns IRRs by Play Wall Street Research (1) According to Wall Street…
Premier Southern Utica Position Concentrated acreage position in the Core of the ECR Mizer Pad (5) Condensate Wells Avg. Rate 695 Boe/d Core 51% Liquids Operate 85% of net acreage Stacked Pay Area Eclipse Acreage Area RICE Bigfoot…
Identification of the Utica Core Area Our entire position across the Utica Core Area is characterized by excellent porosities within the Point Pleasant and a tight barrier in the Utica Shale above C A-A Cross Section B-B Cross…
Utica Single-Well Economics (1) Eclipses Utica Shale asset base generates top returns even in challenging gas price environments Rich Gas Dry Gas Condensate Rich Cl a s s i fi ca ti on Condensate Identi fi ed Net Dri l l i ng Loca ti…
Highly Liquids Rich Marcellus Shale Our 26,400 net acre Marcellus position is in a stacked pay area that overlies a portion of our Dry Gas Utica acreage allowing Eclipse to share pad, facility and construction costs MHR Ormet: 3…
Marcellus Single-Well Economics (1) Eclipses Marcellus Shale asset base provides exceptional rates of return regardless of gas price Cl a s s i fi ca ti on Marcellus Identified Net Drilling Locations 245 Pre-Tax PV-10 (MM) 8.8 Pre-Tax…
First Half 2014 Activity Eclipse continues to meet or exceed its drilling and completion goals Operated Drilling Activity Operated Spuds in First Half 2014 4 Operated horizontal rigs Spud 24 gross (16 net) wells in 2nd quarter, drilled…
Second Half 2014 Planned Activity Eclipse will focus its drilling activity in the second half of the year primarily in the condensate and rich gas areas of the play Operated Non-Operated Adding 2 rigs in the 4th quarter; exit the…
North East Supply/Demand Balance There is significant excess out of basin transportation capacity to meet production growth expectations as we enter the winter of 2015 Excess Takeaway Capacity Excess Basin Production (10%…
Diversified Midstream Strategy Our acreage is centered across a confluence of major pipelines in the country providing significant in and out of basin optionality Eclipses strategy is focused on two primary Eclipse Acreage Area…
Firm Sales & Firm Transportation Focused on developing a diversified transportation strategy to access Appalachian, Gulf Coast and Mid-West markets Firm transportation Long Term Firm Transportation In Place agreements executed for…
Conclusion Core of the Core Utica position with stacked pay Highly Liquids Rich Marcellus One of the Best upside Acreage Positions Largely contiguous and concentrated acreage position in the Country 85% operated 956 identified net…
Appendix
Guidance Third Quarter 2014 Full Year 2014 Average Daily Production 70 - 85 Mmcfe/d 73 - 79 Mmcfe/d Production % Natural Gas 80 - 85% 72 - 77% and % NGL 7 - 10% 8 - 11% Basis % Oil 8 - 10% 12 - 14% Differential % Operated 65 - 75% 65…
Type Curve Summary We have developed our type curves based on wells we have participated in as of April 2014 Type Curve Approach Well Economics and Acreage (1) Eclipse type curves assume a managed choke in order to minimize the…
Type Curve and Cost Assumptions Rich Gas Dry Gas Condensate Rich Condensate Marcellus Identified Net Drilling Locations 250 240 167 54 245 Well Characteristics Initial Production (MMcf/d) (1) 6.0 18.6 2.4 1.2 1.4 Gas Shrink 87.5% -…
Hedging Summary Volume Weighted Average Description Production Period (MMbtu/d) Swap Price (MMBtu) Natural Gas Swaps 20,000 July - December 2014 4.18 20,000 January - December 2015 4.09 Natural Gas Put Spread Purchased Put 20,000…
Adjusted EBITDAX Quarter to Quarter 2Q14 1Q14 1H2014 (in thousands except per Mcfe data) Change % Net loss (112,648) (18,451) (94,197) 511% (131,099) Depreciation, depletion & amortization 9,957 12,027 (2,070) -17% 21,984 Exploration…
Adjusted Net Loss Quarter to Quarter 2Q14 1Q14 1H2014 (in thousands except per share data) Change % Loss Before Income Taxes, as reported (18,107) (18,451) 344 -2% (36,558) Loss on derivative instruments 863 3,611 (2,748) -76% 4,474…
Best Initial Results in the Utica Play Type Eq. Norm . Gas Norm . Gas NGL Cond. Rich Condensate Well Nam e Curve Area 6,000 ft IP (Boe / d) 6,000 ft IP (MMcf / d) Gas BTU Shrink (%) Yield (Bbls / MMcf) Yield (Bbls /…
Out of Basin Takeaway Additions 2014 2015 2016 2017 Project: Rockies Express 0.6 Dominion 0.3 Texas Eastern 0.6 Tennessee Gas Pipeline 0.2 Tennessee Gas Pipeline 0.0 Columbia Pipeline Group 0.4 Texas Eastern 0.3 Dominion 0.2…
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