Eclipse Resources completes $440 million equity raise

Eclipse Resources Corp. has closed its private placement of 62,500,000 shares of common stock. The shares were sold to selected institutional and accredited investors, including affiliates of EnCap Investments LP and entities controlled by members of the company’s management team, at a price of $7.04 per share.

Eclipse Resources expects to receive net proceeds from the private placement of $434 million (after deducting placement agent commissions and the company’s estimated expenses) and intends to use the net proceeds to fund its capital expenditure plan and for general corporate purposes.

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 shale plays.

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