STATE COLLEGE, Pa.--(BUSINESS WIRE)--Eclipse Resources Corporation announced today the completion of an underwritten public offering of 37,500,000 shares of its common stock at a price to the public of $3.50 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 5,625,000 shares of the Company’s common stock.

The Company received approximately $123 million of net proceeds from the Offering (after deducting underwriting discounts and commissions and the Company’s estimated offering expenses). The Company intends to use all of the net proceeds from the offering, including any net proceeds from the underwriters’ exercise of their option to purchase additional shares, to fund a portion of the Company’s capital expenditure plan through 2017 and for general corporate purposes.

Goldman, Sachs & Co., KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC and BMO Capital Markets Corp. acted as joint lead book-running managers of the offering.

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.