Eclipse Resources Announces Increased Equity Commitment and Management Additions

STATE COLLEGE, Pa., Nov 1, 2011 /PRNewswire/ -- Eclipse Resources I, LP ("Eclipse Resources") announced today that its partners have increased their equity commitment to the partnership to $230 million. The $80 million increase will be funded by the company's partner, EnCap Investments L.P. ("EnCap"), and executive management.

Benjamin Hulburt, Eclipse Resources' President and CEO, commented, "We are extremely pleased with our partnership with EnCap and appreciative of the continued support they provide our management team. The increased equity commitment demonstrates their confidence in the company and the assets we have acquired. Since we formed Eclipse Resources in January 2011, we have continued to grow our management team with expert personnel, acquired in excess of 20,000 acres in a very competitive area in southeast Ohio targeting the liquids window of the Utica Shale, and commenced drilling our first horizontal Utica Shale well in Noble County, Ohio."

He continued, "We are happy to announce the addition of Melissa Hamsher, Vice President of Health, Safety, Environmental and Regulatory; Ronald Giles, Director of Operations, Drilling and Completions; and Marilou Wright, Director of Land Records. These newest members of the Eclipse Resources' team are instrumental to the growth and development of our Utica Shale assets."

Prior to joining Eclipse Resources, Mrs. Hamsher served as the Vice President of Health, Safety, Environmental and Regulatory Compliance for Rex Energy Corporation where she was responsible for the establishment and management of all health, safety, environmental and regulatory programs including the establishment of companywide Marcellus Shale drilling and completion best practices and water management. Before joining Rex Energy, Mrs. Hamsher was an engineer for the Pennsylvania Department of Environmental Protection, Bureau of Oil and Gas Management. Mrs. Hamsher has Bachelor of Science degrees in Structural Design and Construction Engineering and Environmental Engineering from The Pennsylvania State University.

Ronald Giles brings over 25 years of expertise in modern drilling and completions methods in unconventional reservoirs to Eclipse Resources. During his career, he has supervised the drilling and completion of over 1,500 shale wells throughout the United States. Prior to joining Eclipse Resources, Mr. Giles served in various drilling and completion supervisory and consultant roles for Rex Energy Corporation, Sand Ridge Energy, Encana Oil and Gas, Chesapeake Energy Corporation, XTO Energy Inc., British Petroleum, Conoco Phillips, Shell, Marathon and Noble Energy.

Marilou Wright joins Eclipse Resources with 30 years of oil and gas land records experience. Most recently, Ms. Wright served as Manager, Land Records at Rex Energy Corporation. Prior to her work at Rex Energy, Ms. Wright was a Senior Lease Analyst at Chief Oil & Gas, LLC and Land Administration at Thompson Petroleum Corporation. She is an active member of numerous professional organizations including American Association of Professional Landmen, Greater Appalachian Basin Association of Lease and Title Analysis, National Association of Lease and Title Analysts and National Association of Division Order Analysts.

About Eclipse Resources

Eclipse Resources is a State College, Pennsylvania based oil and gas company focused on the acquisition, exploration and development of unconventional oil and natural gas properties in the Appalachian Basin, including the Marcellus Shale, Utica Shale and Upper Devonian Shales. Founded in 2011 in partnership with EnCap Investments, Eclipse Resources follows the success of the management team's proven track record in building successful oil and gas enterprises. For more information, please visit www.eclipseresources.com.

About EnCap Investments

Since 1988, EnCap has been the leading provider of private equity to the independent sector of the U.S. oil & gas industry. The firm has raised 15 institutional oil and gas investment funds totaling approximately $11 billion and currently manages capital on behalf of over 200 U.S. and International investors. EnCap professionals represent more than 250 years of experience in the energy finance and investment business and have established a reputation as an innovative, "value-added" source of private capital to the independent sector. EnCap has a proven track record having successfully invested with approximately 185 upstream and midstream oil & gas companies. For more information, please visit www.encapinvestments.com.

SOURCE Eclipse Resources