Eclipse Resources Loses $73M in 2Q16, Resumes Utica Drilling

Eclipse_logo_hiresIn July Eclipse Resources, a Marcellus/Utica pure play driller headquartered in State College, PA that drills mostly in Ohio, released their operational update but not their financial update (see Eclipse Resources 2Q16: Drilling Resumes, 2 New Utica Wells). Yesterday we got “the rest of the story”–Eclipse’s financial results from 2Q16, as well as an updated operational report. The numbers show Eclipse lost $73 million in 2Q16 (versus losing $42 million in 2Q15). Production, as noted in July, was up and operating expenses were down. During 2Q16 Eclipse resumed drilling with one rig, allocated a drilling budget of $196 million, and began completing previously drilled but uncompleted (DUC) wells in their portfolio. Here’s the full update from Eclipse–including finances and operations…

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