Eclipse to review strategic, financial options
Monday, April 9, 2018
At the end of March, Eclipse Resources Corp.’s board of directors hired legal and financial advisers to help it review strategic and financial options, according to Pittsburgh Business Times.
The Pennsylvania-based natural gas and oil exploration and production company hired Jeffries LLC as its financial adviser and Norton Rose Fulbright as its legal counsel. Eclipse said in a statement there is no assurance the review by the board will result in a transaction or other strategic alternative, and the Board has not set a timetable for completion of the review process.
The company believes it had reached a point in its drilling program that it could benefit from a larger scale and faster execution.
Learn more: Pittsburgh Business Times > Eclipse Resources hires advisers for strategic, financial review
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.