Last week, Eclipse Resources Corp. announced its intent to combine with Irving, Texas-based Blue Ridge Mountain Resources, creating one of the largest operators focused on Ohio’s Utica Shale, according to Forbes.

Seaport Global Securities valued the transaction at $345 million, giving the merger an implied enterprise value of $1.4 billion and an equity value of $908 million.

Analysts at the firm said the deal solves a lot of issues for Eclipse, including improving leverage, accelerating growth, cutting costs and adding higher quality acreage.

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