Company Overview Eclipse Resources Assets Key Statistics Current Market Capitalization(1) 1.6 Billion Stacked Pay Area GPOR Eclipse Acreage Area Harrison Jefferson Pro Forma Liquidity(1) 605 Million Antero acreage 2014E Avg. Daily…
Investment 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 & 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…
Utica Condensate Area Assumptions Harrison Jefferson Cost 4 Current Optimized(1) PENNSYLVANIA Well Cost 1,470 1,399 (/Lateral Ft.) Guernsey Belmont Total Operating Costs (/MMcfe)(2) 1.35 1.25 30-Day IP Gas Sales Rate 2.8…
Utica Rich Gas Area Assumptions Harrison Jefferson Cost 4 Current Optimized(1) PENNSYLVANIA Well Cost 1,470 1,399 (/Lateral Ft.) Guernsey Belmont Total Operating Costs (/MMcfe)(2) 1.69 1.58 30-Day IP Gas Sales Rate 7.0…
Utica Dry Gas Area Assumptions Harrison Jefferson Cost 4 Current Optimized(1) PENNSYLVANIA Well Cost 1,613 1,542 (/Lateral Ft.) Guernsey Belmont Total Operating Costs (/MMcfe)(2) 0.85 0.76 30-Day IP Gas Sales Rate 21.5 (7,000…
Marcellus Area Assumptions Harrison Jefferson Cost 4 Current Optimized(1) PENNSYLVANIA Well Cost 1,056 984 (/Lateral Ft.) Guernsey Belmont Total Operating Costs (/MMcfe)(2) 1.45 1.33 30-Day IP Gas Sales Rate 1.6 (7,000 Ft.…
Depth of Inventory Generates Long-Term Production & Reserve Growth Eclipse continues to convert unproved assets into proved reserves at an aggressive pace, while its drilling plan generates superior growth Total Proved Reserves(1)…
Significant Reserves & Resource Potential Management estimates Eclipses asset base generates approximately 4.4 billion of present value ( in millions) 941 17 1,071 4,385 Pro Forma 952 Enterprise Value: 1.5 billion(1) 1,003…
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 Drilling & Completion 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…
Efficient Drilling & Completion Metrics(1) 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 by 2.7x during the next 7 months Eclipse has significant additional production growth via…
2015 Capital Expenditure Plan Eclipse has established an initial capital expenditure budget of approximately 640 million for 2015 - Represents a reduction in capital expenditures of approximately 20% from 2014 - Plan is projected to…
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 off…
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…
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…
Financial Philosophy Focus on the creation of value through high return drilling, optimal price realizations and cost control while reducing risk where appropriate Ensure sufficient capital is available to execute Eclipses drilling…
4Q 2014 and 2015 Guidance 4Q 2014 Full Year 2014 Estimated 2015 Production (MMcfe/d) 125 135 73 75 250 285 % Natural Gas 70 76% 72 76% 60% % NGL 12 15% 9 12% 20% % Oil 12 15% 13 15% 20% % of Net Production Operated 73 78% 60 70%…
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…
Current Hedging Position Volume Weighted Average Description Production Period (MMBtu/d) Swap Price (/MMBtu) Natural Gas Swaps 66,219 January 2015 December 2015 3.797 25,000 January 2016 December 2016 3.660 Natural Gas Put Sold…
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(1) 50.0% 42.0% Annual…
Type Curve and Cost Assumptions Rich Gas Dry Gas Condensate Marcellus Identified Net Drilling Locations 225 209 138 206 Well Characteristics Initial Production (MMcf/d) (1) 6.0 18.6 2.4 1.4 Gas Shrink 87.5% - 85.2% 80.5% Initial…
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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