Eclipse Resources Corp., College Station, Pa., and affiliates have entered separate agreements to purchase oil and gas interests and midstream assets in Tioga and Potter counties, Pa.
Eclipse and wholly owned Eclipse Resources-PA LP agreed to acquire oil and gas interests on 44,500 net acres from Travis Peak Resources LLC, Austin, for stock worth $93.7 million.
Eclipse says the acreage has been delineated by 22 Utica shale wells. Its acquisition includes a well producing 6.5 MMcfd of dry gas net to its interest and will add 87 net drilling locations based on 16,000-ft laterals in a program it calls “super-lateral” development.
The midstream acquisition, involving Eclipse Resources Midstream LP, covers all outstanding equity interests of Cardinal NE Holdings LLC, a unit of Cardinal Midstream, Dallas, and includes gathering rights associated with the acreage acquisition. Eclipse will pay $18.3 million cash.
