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Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp.

Eclipse Resources Corp. · Mar 5, 2015 · 15 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 1
    Year-End 2014: Financial Review & Operational Update March 5, 2015 NYSEECR
  2. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 2
    Year-End2014EarningsCall 2014 Accomplishments Grew average annual production by 1,600% from 4.5 MMcfe/d in 2013 to 131 MMcfe/d in 2014 Production & Grew adjusted net production 1,200% to 131 MMcfe/d during the 4th quarter 2014…
  3. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 3
    Year-End2014EarningsCall 2015 Strategy Update Eclipse will focus on preserving liquidity in the current market while still projecting over 100% year over year production growth Reduce operated rig count to one rig Active in the…
  4. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 4
    Year-End2014EarningsCall Developing Value & Improving Efficiencies Eclipse continues to convert unproved assets into proved reserves, while its drilling plan generates superior growth Net Production (MMcfe/d)(1) Proved Reserves…
  5. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 5
    Year-End2014EarningsCall Operated Producing Utica Wells 6 8 Producing 30- Avg. Type Turn to Day Avg Sales Map Operated Unit Wells in Completed Curve Sales Rate/Well(1) ID Name Unit Lat Length Area Month (MMcfe/d) % Gas % NGL %…
  6. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 6
    Year-End2014EarningsCall Operated Wells in Progress Eclipse has elected to defer completions on 765 stages across 25 Utica wells (19.3 net) in the companys Condensate type curve window to date Operated Net Well Summary Operated…
  7. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 7
    Year-End2014EarningsCall Type Curve Well Cost Reductions in service costs should significantly enhance returns in this pricing environment Wet Gas ( MM)(1) Dry Gas ( MM)(1) 12.0 12.0 10.5 10.0 10.0 0.7 9.5 0.7 9.1 8.4…
  8. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 8
    Year-End2014EarningsCall Marketing Considerations & Impact Access to Gulf Coast and Midwest markets expected to provide 0.50/Mcf of uplift after transportation expense relative to Dom South in 2015 and 0.45/Mcf in 2016(1) Rex and…
  9. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 9
    Year-End2014EarningsCall Revenues & EBITDAX Adjusted Revenue ( MM)(1) Q4-14 2014 150 60 Average Net Price (/Mcfe) 125 138.0 50 52.6 Avg / Mcfe Price, as reported 4.61 5.20 40 100 Plus Hedges (0.19) (0.01) Realized Price…
  10. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 10
    Year-End2014EarningsCall Operating Expenses The rapid production growth during the second half of the year was the primary driver of the 30% reduction in per unit operating expense since the companys IPO in June 2014 Operating…
  11. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 11
    Year-End2014EarningsCall Strong Financial Position The closing of Eclipse Resources private placement equity offering in January 2015 added considerable cash to the companys balance sheet and positions the company to weather…
  12. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 12
    APPENDIX
  13. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 13
    Year-End2014EarningsCall Hedging Summary Eclipse Resources 2015 gas production is hedged at an average price of 3.76/MMBtu Volume Natural Gas Hedges Production Period Weighted Average Price (/MMBtu) (MMBtu/d) Natural Gas Swaps…
  14. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 14
    Year-End2014EarningsCall Non-GAAP Reconciliations Adjusted EBITDAX Adjusted Net Loss Three Months Ended Three Months Ended December 31, September 30, December 31, ( in thousands) 2014 2014 ( in thousands) 2014 Net Loss (33,023)…
  15. Year End 2014 Financial Review & Operational Update – Eclipse Resources Corp. – slide 15
    Year-End2014EarningsCall Operated Producing Well Detail Producing 30-Day Completed Type Curve Turn-to-Sales 24-Hr Peak Sales Avg Sales Rate (1) Well Name Lat Length Area Month Rate (Mcfe/d) (Mcfe/d) % Gas % NGL % Oil Ti ppens 6HS…

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