Eclipse Resources Corp., State College, Pa., plans to spud its first well in the newly acquired Flat Castle project area this quarter.
The acquisition of oil and gas interest on 44,500 net acres in Tioga and Potter counties, Pa., by Eclipse subsidiary Eclipse Resources-PA LP from Travis Peak Resources LLC closed on Jan. 18 (OGJ Online, Dec. 12, 2017). The purchase price of $92.2 million was paid with 37.8 million shares of Eclipse Resources’ common stock.
The acquisition expands the company’s Utica shale dry gas acreage by 104%, said Benjamin W. Hulburt, Eclipse Resources chairman, president, and chief executive officer.
