Company Overview Eclipse Resources Assets Key Statistics Market Capitalization(1) 2.7 Billion Stacked Pay Area GPOR Liquidity(1) 330 Million Eclipse Acreage Area Harrison Jefferson Total Debt Outstanding 423 Million Antero acreage…
Company Highlights Core of the Core Utica position with stacked pay Highly Rich Marcellus upside One of the Best Largely contiguous and concentrated acreage position that is 85% operated Acreage Positions in Additional 121,200(1)…
Leading Growth Since IPO Eclipse continues to convert unproved assets into proved reserves at an aggressive pace, while its drilling plan generates superior growth Proved Reserves (Bcfe)(1) Proved PV-10 (MM)(1) Net Production…
Premier Southern Utica and Liquids Rich Marcellus Position 85% operated acreage position in the Core of the Core of the Utica Shale ECR; 10 Wells Play Avg. 30-Day Rate 4.4 MMcfe/d Highly Rich Marcellus Shale potential on (60%…
Top Tier Return Potential Eclipses acreage position is located in the Utica Core and Super Rich Marcellus Plays which have demonstrated some of the top tier returns in onshore U.S. oil and gas plays IRRs by Play Wall Street…
Strong Single-Well Economics(1) Eclipses asset base generates strong returns even in challenging commodity price environments Rich Rich Gas Dry Gas Condensate Marcellus Condensate D&C Capital (/Lateral ft.) 1,584 1,750 1,584 1,584…
Significant Production Growth Driven by Strong Initial Well Results Eclipse continues to achieve strong quarter over quarter growth Operated Producing Wells Operated Producing Utica Wells to Date(1) Avg. 30-Day Avg Harrison Jefferson…
2014 D&C Activity Current D&C Activity Wells Currently in Process(1) 3 operated horizontal rigs currently running Approximately 127 gross (57 net) wells to be spud in 2014 with average lateral length of 7,300 Ample frac spreads…
Efficient Drilling and Completion Metrics Eclipse has drilled 51 operated Utica Shale wells to date Average drilling days reduced to approximately 16 days per well (down from original plan of 25-30 days per well) Savings going into…
Wells In Process Will Drive Production Growth(1) With wells already in progress, Eclipse will increase net producing operated well count 2.7x during the next 7 months Eclipse has significant additional production growth via non-operated…
Diversified Midstream Strategy Eclipses acreage is centered across a confluence of major pipelines in the country providing significant in- and out-of-basin optionality Strategy Objective Status Ample and Reliable Gathering,…
2015 Gas Marketing Summary Guidance The Company believes it has firm transportation or firm sales capacity covering 100% of its expected 2015 and 2016 production Approximately 70% of Eclipses gas volumes are expected to be priced of…
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 Pipeline Capacity 60 Committed…
APPENDIX
Third Quarter Highlights Production Highlights Grew average daily production 104% to 85.8 MMcfe per day Exceeded the Companys previously issued guidance of 85 MMcfe per day Average daily net liquids production was 3,079 barrels per…
Highly Experienced Management Team Proven management team with track record of executing a complex drilling program Years in Name Position Prior Experience Industry Benjamin Hulburt President & CEO 13 Thomas Liberatore Chief Operating…
Significant Reserves and Resource Potential Management estimates Eclipses asset base generates approximately 4.4 billion of present value ( in millions) 941 17 1,071 4,385 952 1,003 401 Proved Reserves Dry Gas Rich Gas…
4Q 2014 and Full Year 2014 Guidance 4Q 2014 Full Year 2014 Production (MMcfe/d) 125 135 73 75 % Natural Gas 70 76% 72 76% % NGL 12 15% 9 12% % Oil 12 15% 13 15% % Operated 73 78% 60 70% Realized Natural Gas Price Differential…
Summary Revolving Credit Facility Terms Borrower Eclipse Resources Corporation The Revolving Credit Facility is unconditionally guaranteed on a senior secured basis by the Borrower and Guarantees each of its operating subsidiaries…
Current Hedging Position 33% of 4Q14 proved gas production is swapped at a price of 4.12/MMBtu Volume Weighted Average Description Production Period (MMBtu/d) Swap Price (/MMBtu) Natural Gas Swaps 30,000 Current December 2014…
Favorable Lease Expiration Schedule 3-year drilling plan designed to HBP acreage prior to expiration of its primary term 46% of leases have a 5-year extension option Utica Core Area Leasehold Expiration 50.0% 42.0% Annual lease…
Type Curve and Cost Assumptions Rich Gas Dry Gas Condensate Rich Condensate Marcellus Identified Remaining Net Drilling Locations 225 209 138 44 206 Well Characteristics Initial Production (MMcf/d) (1) 6.0 18.6 2.4 1.2 1.4 Gas Shrink…
Non-GAAP Reconciliations Adjusted EBITDAX Adjusted Net Loss Three Months Ended Three Months Ended September 30, September 30, ( in thousands) 2014 ( in thousands) 2014 Net Loss (19,054) Loss Before Income Taxes, as reported (29,598)…
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