Eclipse Resources Corporation Prices Initial Public Offering

STATE COLLEGE, Pa.--()--Eclipse Resources Corporation (“Eclipse Resources” or the “Company”) today announced the pricing of its initial public offering of 30,300,000 shares of common stock at $27.00 per share. The shares are expected to begin trading on the New York Stock Exchange on June 20, 2014 under the ticker symbol “ECR.” The Company is offering 21,500,000 shares of its common stock and the selling stockholders named in the registration statement are offering 8,800,000 shares of the Company’s common stock. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 4,545,000 shares of the Company’s common stock. The offering is expected to close on June 25, 2014, subject to customary closing conditions.

The Company intends to use the net proceeds of approximately $545.2 million (after deducting underwriting discounts and commissions and the estimated offering expenses payable by the Company) to repay all outstanding borrowings under its revolving credit facility and to fund a portion of its capital expenditure plan. The Company will not receive any of the proceeds from the sale of shares of the Company’s common stock by the selling stockholders.

Citigroup Global Markets Inc., Goldman, Sachs & Co., and Morgan Stanley & Co. LLC are acting as joint lead book-running managers for the offering. Barclays Capital Inc., BMO Capital Markets Corp., Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc. and RBC Capital Markets, LLC are also acting as book-running managers for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This offering will be made only by means of a written prospectus forming part of the effective registration statement. A copy of the prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained, when available, from:

 
Citigroup

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

batprospectusdept@citi.com

Telephone: 1-800-831-9146

 

Goldman, Sachs & Co.

Attn: Prospectus Department

200 West Street

New York, NY 10282

prospectus-ny@ny.email.gs.com

Telephone: 1-866-471-2526

  Morgan Stanley & Co. LLC

Attn: Prospectus Department

180 Varick Street, 2nd floor

New York, NY 10014

 

Barclays Capital Inc.

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

barclaysprospectus@broadridge.com

Telephone: 1-888-603-5847

BMO Capital Markets Corp.

Attn: Equity Syndicate Department

3 Times Square

New York, NY 10036

bmoprospectus@bmo.com

Telephone: 1-800-414-3627

Deutsche Bank Securities Inc.

Attn: Prospectus Group

60 Wall Street

New York, NY 10005

prospectus.CPDG@db.com

Telephone: 1-800-503-4611

 

KeyBanc Capital Markets Inc.

Attn: Prospectus Delivery Department

127 Public Square, 4th Floor

Cleveland, OH 44114

Telephone: 1-800-859-1783

RBC Capital Markets, LLC

Attn: Prospectus Department

200 Vesey Street, 8th Floor

New York, NY 10281

syndicateops@rbccm.com

Telephone: 1-866-375-6829

 

About Eclipse Resources Corporation

Eclipse Resources is an independent exploration and production company engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin, including the Utica and Marcellus Shales.

Important Information

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

This release includes “forward-looking statements” within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of natural gas, NGLs and oil. These risks include, but are not limited to, legal and environmental risks, drilling and other operating risks, regulatory changes, commodity price volatility, inflation, lack of availability of drilling, production and processing equipment and services, counterparty credit risk, the uncertainty inherent in estimating natural gas, NGLs and oil reserves and in projecting future rates of production, cash flow and access to capital, and the timing of development expenditures.

Contacts

Eclipse Resources Corporation
Julia Williams, 814-308-9754
Director, Investor Relations and Communications
jwilliams@eclipseresources.com

Release Summary

Eclipse Resources Corporation today announced the pricing of its initial public offering of 30,300,000 shares of common stock at $27.00 per share.

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Contacts

Eclipse Resources Corporation
Julia Williams, 814-308-9754
Director, Investor Relations and Communications
jwilliams@eclipseresources.com