Eclipse Resources (ECR) Misses Q3 EPS by 2c, Offers Guidance

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Eclipse Resources (NYSE: ECR) reported Q3 EPS of ($0.12), $0.02 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $35.7 million versus the consensus estimate of $35.5 million.

Guidance

Eclipse Resources is providing its fourth quarter 2014 and full year 2014 guidance set forth in the table below. The Company has increased its expected capital expenditure guidance for the year to approximately $800 million driven predominately by higher average working interests in wells drilled in 2014 due to acreage trades, higher intensity completion designs, and increased midstream related investments. The Company’s preliminary estimate of average net daily production for the month of October 2014 was approximately 120 MMcfe per day.


	Fourth Quarter 2014	Full Year 2014
Production (MMcfe/d)	125 – 135	73 – 75
% Natural Gas	70 – 76%	72 – 76%
% NGL	12 – 15%	9 – 12%
% Oil	12 – 15%	13 – 15%
% Operated	73 – 78%	60 – 70%
Realized Natural Gas Price Differential from NYMEX / Mcf	$ (0.90 – 1.10)	$ (0.75 – 0.90)
Operating Expense / Mcfe (a)	$ 1.40 – 1.50	$ 1.35 – 1.45
Cash General & Administrative	$ 11 – 12 million	$ 39 – 42 million
Capital Expenditures (b)		$ 800 million

For earnings history and earnings-related data on Eclipse Resources (ECR) click here.

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