Eclipse Resources Announces 2018 Analyst Day and Completion of Acquisition of “Flat Castle” Utica Development Area in Central Pennsylvania

STATE COLLEGE, Pa.–(BUSINESS WIRE)–Eclipse Resources Corporation (NYSE:ECR) (the “Company” or “Eclipse
Resources”) announced today that it will host its 2018 Analyst Day on
Wednesday, January 31st at the JW Marriott Hotel in Houston, Texas. A
live audio webcast of the event will begin at 9:00 am (Central Time) and
can be accessed via the “Investors” section of Eclipse Resources’
website at www.eclipseresources.com.
The Company plans to post the Analyst Day Presentation to the
“Investors” section of the Company’s website prior to the event.

Additionally, Eclipse Resources is pleased to announce that on January
18, 2018 Eclipse Resources-PA, LP, a wholly owned subsidiary of the
Company, completed its previously announced acquisition of certain oil
and gas leases, wells and other oil and gas rights and interests
covering approximately 44,500 net acres located in the counties of Tioga
and Potter in the Commonwealth of Pennsylvania (such transaction, the
“Flat Castle Acquisition”) from Travis Peak Resources, LLC. The
aggregate adjusted purchase price for the Flat Castle Acquisition was
$92.2 million, which was paid entirely with approximately 37.8 million
shares of Eclipse Resources’ common stock.

Benjamin W. Hulburt, Chairman, President and CEO of Eclipse Resources,
commented on the Company’s acquisition, “The Flat Castle acquisition
will create a new, highly contiguous core area that significantly
expands our Utica Shale dry gas acreage by almost 104%. The Company
intends to utilize innovative drilling and completion techniques and
extensive Super-Lateral development to considerably enhance the
economics of the area. We anticipate our first well to spud in the Flat
Castle project area during the first quarter of 2018.”

About Eclipse Resources

Eclipse Resources is an independent exploration and production company
engaged in the acquisition and development of oil and natural gas
properties in the Appalachian Basin, including the Utica and Marcellus
Shales. For more information, please visit the Company’s website at www.eclipseresources.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”) and Section 21E of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). All statements, other than
statements of historical fact included in this press release, regarding
Eclipse Resources’ strategy, future operations, financial position,
estimated revenues and income/losses, projected costs and capital
expenditures, prospects, plans and objectives of management are
forward-looking statements. When used in this press release, the words
“plan,” “endeavor,” “will,” “would,” “could,” “believe,” “anticipate,”
“intend,” “estimate,” “expect,” “project” and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on Eclipse Resources’ current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of future
events. When considering forward-looking statements, you should keep in
mind the risk factors and other cautionary statements described under
the heading “Risk Factors” in Eclipse Resources’ Annual Report on Form
10-K filed with the Securities Exchange Commission on March 3, 2017 (the
“2016 Annual Report”), and in “Item 1A. Risk Factors” of Eclipse
Resources’ Quarterly Reports on Form 10-Q.

Forward-looking statements may include, but are not limited to,
statements about Eclipse Resources’ business strategy; reserves; the
expected benefits of the Flat Castle Acquisition and its impact on the
Company’s business, operations and assets; general economic conditions;
financial strategy, liquidity and capital required for developing its
properties and timing related thereto; realized natural gas, natural gas
liquids and oil prices; timing and amount of future production of
natural gas, NGLs and oil; its hedging strategy and results; future
drilling plans; competition and government regulations, including those
related to hydraulic fracturing; the anticipated benefits under its
commercial agreements; marketing of natural gas, NGLs and oil; leasehold
and business acquisitions; the costs, terms and availability of
gathering, processing, fractionation and other midstream services;
general economic conditions; credit markets; uncertainty regarding its
future operating results, including initial production rates and liquid
yields in its type curve areas; and plans, objectives, expectations and
intentions contained in this press release that are not historical.

Eclipse Resources cautions you that the forward-look statements
pertaining to the Flat Castle Acquisition described herein are subject
to risks and uncertainties, including, without limitation, the Company’s
failure to realize the expected benefits of such transaction, the
Company’s ability to successfully integrate the acquired assets,
negative effects of the consummation of such transaction on the market
price of the Company’s common stock, and significant transaction costs,
unknown liabilities and/or unanticipated expenses such as litigation
expenses. In addition, all forward-looking statements are subject to
risks and uncertainties, most of which are difficult to predict and many
of which are beyond the Company’s control, incident to the exploration
for and development, production, gathering and sale of natural gas, NGLs
and oil. These risks include, but are not limited to, legal and
environmental risks, drilling and other operating risks, regulatory
changes, commodity price volatility and the recent significant decline
of the price of natural gas, NGLs, and oil, inflation, lack of
availability of drilling, production and processing equipment and
services, counterparty credit risk, the uncertainty inherent in
estimating natural gas, NGLs and oil reserves and in projecting future
rates of production, cash flow and access to capital, the timing of
development expenditures, and the other risks described under the
heading “Risk Factors” in the 2016 Annual Report and in “Item 1A. Risk
Factors” of Eclipse Resources’ Quarterly Reports on Form 10-Q.

All forward-looking statements, expressed or implied, included in
this press release are expressly qualified in their entirety by this
cautionary statement. This cautionary statement should also be
considered in connection with any subsequent written or oral
forward-looking statements that Eclipse Resources or persons acting on
the Company’s behalf may issue. Except as otherwise required by
applicable law, Eclipse Resources disclaims any duty to update any
forward-looking statements to reflect events or circumstances after the
date of this press release.

Contacts

Eclipse Resources Corporation
Douglas Kris, Investor Relations,
814-325-2059
[email protected]