Eclipse Resources Floats $650M in New IOUs

Eclipse Resources, the State College, PA-based pure play driller that drills mostly in the Ohio Utica Shale, is the latest contestant to enter the mad-dash-for-cash sweepstakes. On Friday Eclipse announced they are floating a round of “senior notes” (essentially IOUs) with the aim of raising $650 million in cash. They’ll use some of the money to pay off older debts/IOUs…

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