Eclipse Resources to repay revolver borrowings with stock IPO proceeds

By Tali Rackner

Norfolk, Va., June 20 – Eclipse Resources Corp. said it will repay all outstanding borrowings under its revolving credit facility and fund a portion of its capital expenditure plan with the proceeds from an initial public offering of common stock, according to a press release.

The net proceeds from the sale, after deducting underwriting discounts and commissions and the estimated offering expenses payable by the Company, will be around $545.2 million.

Eclipse Resources is a State College, Pa.-based oil and gas exploration and production company.

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