Eclipse Resources closed a $92.2 million acquisition of 44,500 net acres in north-central Pennsylvania’s Utica shale, according to Kallanish Energy.
Eclipse Resources-PA LP acquired the land in Potter and Tioga counties from Travis Peak Resources for 37.8 million shares of Eclipse Resources’ common stock. The deal was announced in December.
Eclipse expects to drill its first well in the Flat Castle project sometime in the first quarter. The acquisition marks a major expansion of the Utica Shale into an area where only a few Utica wells have been drilled so far.