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Tuesday, November 6, 2018

Eclipse Resources Enjoys Strong 3rd Quarter as Merger with Blue Ridge Mountain Resources Looms

From Kallanish Energy:
Independent producer Eclipse Resources, currently in the process of acquiring fellow independent Blue Ridge Mountain Resources, reported Wednesday recording-setting third-quarter revenue. 
Revenue for the quarter ended Sept. 30, hit $130.12 million, up from $91.55 million one year ago, Kallanish Energy reports. 
“For the third quarter of 2018, the company was able to achieve record revenue of $130.1 million, a 42% increase over the third quarter of 2017, while also posting a 46% increase in adjusted EBITDAX over the third quarter of 2017, which came in at a new company record of $66.8 million,” said Benjamin W. Hulburt, chairman, president and CEO. 
Eclipse’s crude oil and natural gas liquids jumped year-over-year, with crude production up more than 100%, to 574,800 barrels, while NGL production rose 34.2%, to 906,400 barrels during the three-month period.
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