Eclipse Resources, a smaller but important Utica/Marcellus driller based in State College, PA (but mostly drilling in eastern Ohio) released an operational but not financial update at the end of July (see Eclipse Resources Releases Operations but not Financial Update). We noted at the time that typically the operations update is the “good news” and the financial update would likely be the “bad news.” Eclipse released their financial update yesterday and hey, contrary to other companies, the news is pretty good. Let’s get the bad news out of the way first: Yes, they lost money in second quarter 2015–$42.0 million. But the net loss was much less than 2Q14 when it was $112.6 million. The good news? Revenue was up 181% to $73.4 million (amidst a price collapse over the past year), net production was up 374% to 198.6 million cubic feet equivalent per day (MMcfe/d), and Eclipse increased their estimates of production for 2015 by another 5% over last year…
