Eclipse Resources Corporation (NYSE:ECR) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01Entry into a Material Definitive Agreement.

On February 24, 2017, Eclipse Resources Corporation (the Company)
entered into the Third Amendment to Second Amended and Restated
Credit Agreement (the Amendment), by and among the Company, as
borrower, Bank of Montreal, as administrative agent (the
Administrative Agent), and each of the lenders party thereto.

The Amendment amends the Second Amended and Restated Credit
Agreement, dated as of June 11, 2015, as amended (the Credit
Agreement), by and among the Company, the Administrative Agent
and each of the lenders party thereto, to, among other things,
(i) extend the maturity date thereof to February 24, 2020, (ii)
increase the borrowing base thereunder to $175 million, (iii)
replace the quarterly minimum interest coverage ratio therein
with a quarterly maximum ratio of Consolidated Total Funded Net
Debt to EBITDAX (as such terms are defined in the Credit
Agreement) of 4.50 to 1.00, as determined in accordance with the
Credit Agreement, (iv) increase the Applicable Margin (as defined
in the Credit Agreement) applicable to loans, letters of credit
participation fees and undrawn facility fees and (v) require that
80% of the total value of the Proved Developed Producing Reserves
(as defined in the Credit Agreement) of the Company and its
restricted subsidiaries reflected in the most recently delivered
reserve report be mortgaged as security for the obligations
thereunder.

The description of the Amendment set forth above does not purport
to be complete and is qualified in its entirety by reference to
the Amendment, a copy of which is filed as Exhibit 10.1 to this
Current Report on Form 8-K and is incorporated herein by
reference.

The information included in Item 1.01 of this Current Report on
Form 8-K is incorporated by reference into this Item 2.03 of this
Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

About Eclipse Resources Corporation (NYSE:ECR)

Eclipse Resources Corporation (Eclipse) is an independent exploration and production company. The Company is engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin. The Company has assembled an acreage position approximating 221,700 net acres in Eastern Ohio. The Company is the operator of the Utica Core Area and its Marcellus Project Area. The Company has identified approximately 2,450 gross (594 net) remaining horizontal drilling locations across its acreage, which consist of approximately 450 locations within the Utica Core Area and over 140 locations within its Marcellus Project Area. The Company’s Utica Shale is an unconventional reservoir comprising organic-rich black shale, with production occurring at vertical depths between 6,000 and 10,000 feet. The Marcellus Shale consists of organic-rich black shale, with production occurring at vertical depths between 5,000 and 8,000 feet.

Eclipse Resources Corporation (NYSE:ECR) Recent Trading Information

Eclipse Resources Corporation (NYSE:ECR) closed its last trading session 00.00 at 2.49 with 1,802,009 shares trading hands.