Eclipse enters Utica Shale joint venture with Sequel
Tuesday, August 15, 2017
Eclipse Resources signed an agreement with Sequel Energy Group to enter a joint venture to drill in the Utica shale, according to The Business Journal.
According to a news release announcing Eclipse’s second quarter earnings, Sequel has committed up to $325 million to fund its portion of two drilling programs, including 34 existing wells and wells developed through the end of 2018.
Eclipse also reported net income of $11.5 million for the three-month period ended June 30, and average daily net production from the company’s wells stood at 287.8 million cubic feet per day.
Learn more: The Business Journal > Eclipse Resources Enters Into $325M Utica Joint Venture
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