Eclipse Resources Corporation Announces Closing of Initial Public Offering

STATE COLLEGE, Pa.--()--Eclipse Resources Corporation (“Eclipse Resources” or the “Company”) today announced the completion of its initial public offering of 30,300,000 shares of its common stock at a price to the public of $27.00 per share. The Company sold 21,500,000 shares of its common stock and the selling stockholders named in the registration statement sold 8,800,000 shares of the Company’s common stock.

The net proceeds received by the Company from the sale of 21,500,000 shares of its common stock were approximately $545.2 million (after deducting underwriting discounts and commissions and the estimated offering expenses payable by the Company). The Company intends to use the net proceeds 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 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 acted 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 also acted 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         Goldman, Sachs & Co.         Morgan Stanley & Co. LLC
c/o Broadridge Financial Solutions Attn: Prospectus Department Attn: Prospectus Department
1155 Long Island Avenue 200 West Street 180 Varick Street, 2(nd) floor
Edgewood, NY 11717 New York, NY 10282 New York, NY 10014
prospectus@citi.com prospectus-ny@ny.email.gs.com
Telephone: 1-800-831-9146 Telephone: 1-866-471-2526
 
Barclays Capital Inc. BMO Capital Markets Corp. Deutsche Bank Securities Inc.
c/o Broadridge Financial Solutions Attn: Equity Syndicate Department Attn: Prospectus Group
1155 Long Island Avenue 3 Times Square 60 Wall Street
Edgewood, NY 11717 New York, NY 10036 New York, NY 10005
barclaysprospectus@broadridge.com bmoprospectus@bmo.com prospectus.CPDG@db.com
Telephone: 1-888-603-5847 Telephone: 1-800-414-3627 Telephone: 1-800-503-4611
 
KeyBanc Capital Markets Inc. RBC Capital Markets, LLC
Attn: Prospectus Delivery Department Attn: Prospectus Department
127 Public Square, 4(th) Floor 200 Vesey Street, 8(th) Floor
Cleveland, OH 44114 New York, NY 10281
Telephone: 1-800-859-1783 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

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Contacts

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