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Eclipse Resources updates on Q4 production, provides 2018 guidance

Jan. 31, 2018 11:51 AM ETEclipse Resources (ECR-OLD) StockBy: Carl Surran, SA News Editor11 Comments
  • Eclipse Resources (ECR -1.8%) is lower following its operational update that shows Q4 net production averaged 311.7M cfe/day, up 22% Y/Y.
  • ECR says year-end 2017 proved reserves surged 211% to 1.46T cfe based on SEC pricing, and by 19% based on forward strip pricing, compared to year-end 2016 proved reserves.
  • ECR offers FY 2018 production guidance of 335M-355M cfe/day and estimates 42% Y/Y condensate growth, reflecting its objective of increasing its oil and liquids exposure as a percentage of total production.
  • The company also establishes an initial 2018 capital budget of $300M-$320M.

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