Eclipse

Eclipse Resources Corp. said late Wednesday that it has finalized a joint venture (JV) with an affiliate of GSO Capital Partners LP to help fund Utica Shale drilling in Ohio’s Guernsey and Monroe counties.

Ohio pure-play Eclipse Resources Corp. is entering a $325 million Utica Shale drilling joint venture (JV) with an affiliate of GSO Capital Partners that management said may provide more financial flexibility as commodity prices fluctuate.

Ohio pure-play Eclipse Resources Corp. said it has finished drilling its third super lateral well, the Outlaw C 11H, in the Utica Shale condensate window, setting another company record by reaching 19,500 feet in 17 days.

As it weathered the commodities downturn and grappled with the problems it created, Ohio pure-play Eclipse Resources Corp. again went back to the drawing board to determine how it could better increase estimated ultimate recoveries, efficiency and above all, returns, CEO Benjamin Hulburt told an industry crowd this week in Pittsburgh.

Eclipse Resources Corp. has again drilled what management believes is the world’s longest onshore lateral, reporting that the Great Scott 3H well in Ohio’s Utica Shale condensate window has a total measured depth (TMD) of 27,400 feet and a lateral of 19,300 feet.

Eclipse Resources Corp. again added acreage in Ohio’s Monroe County last week after bidding successfully during the U.S. Bureau of Land Management’s latest auction for leases in the Wayne National Forest (WNF).

As it continues pushing its lateral lengths this year, Ohio pure-play Eclipse Resources Corp. intends to drill two Marcellus Shale wells in eastern Monroe County and gather more data from a refractured (refracked) Utica Shale well that could open new horizons for the company this year.

Ohio pure-play Eclipse Resources Corp. plans to significantly increase its capital spend this year, guiding for a $300 million budget that builds on the lessons it learned last year and includes 11 super laterals — wells with extensions of 15,000 feet or longer.

Eclipse Resources Corp. said Tuesday it plans to expand its asset base this year and build on records the company set in 2016, announcing executive management changes geared toward driving growth.