Eclipse Resources Corporation announced consolidated earnings and production results for the fourth quarter and full year ended December 31, 2017. Revenue for the fourth quarter of 2017 totaled $104.1 million, compared to $83.9 million for the fourth quarter of 2016. Adjusted Revenue, which includes the impact of cash settled derivatives and excludes brokered natural gas and marketing revenue, totaled $105.8 million for the fourth quarter of 2017 compared to $85.1 million for the fourth quarter of 2016. Net loss for the fourth quarter of 2017 was $13.1 million, or $0.05 per share compared to $62.1 million or $0.24 per share for the fourth quarter of 2016. Adjusted loss before income taxes was $5,211,000 against loss of $4,779,000 a year ago. Adjusted net Income for the fourth quarter of 2017 was $5.2 million, or $0.02 per share, compared to an adjusted net loss $4.8 million, or $0.02 per share for the fourth quarter of 2016. Adjusted EBITDAX was $53.5 million for the fourth quarter of 2017 compared to $42.2 million for the fourth quarter of 2016. Fourth quarter 2017 capital expenditures were $32.3 million, including $21.8 million for drilling and completions, $4.6 million for midstream expenditures, $5.7 million for land-related expenditures, and $0.2 million for corporate-related expenditures.

Revenue for the year ended December 31, 2017 totaled $383.7 million, compared to $235.0 million for the year ended December 31, 2016. Adjusted revenue, which includes the impact of cash settled derivatives and excludes brokered natural gas and marketing revenue, totaled $378.0 million for the year ended December 31, 2017 compared to $261.7 million for the year ended December 31, 2016. Operating income was $12,669,000 against loss of $117,402,000 a year ago. Income before tax was $8,525,000 against loss of $206,189,000 a year ago. Net income for the year ended December 31, 2017 was $8.5 million, or $0.03 per share compared to a net loss of $206.7 million or $0.86 per share for the year ended December 31, 2016. Adjusted loss before income taxes was $1,495,000 against loss of $63,979,000 a year ago. Adjusted net income for the year ended December 31, 2017 was $1.5 million, or $0.01 per share, compared to an Adjusted net loss $64.5 million, or $0.27 per share for the year ended December 31, 2016. Adjusted EBITDAX was $189.1 million for the year ended December 31, 2017 compared to $102.1 million for the year ended December 31, 2016. For the year ended December 31, 2017 capital expenditures were $314.1 million, including $246.4 million for drilling and completions, $10.5 million for midstream expenditures, $55.9 million for land-related expenditures, and $1.3 million for corporate-related expenditures.

For the quarter, the company produced natural gas of 21,178.5 MMcf against 16,563.9 MMcf a year ago. NGLs was 711.0 Mbbls against 721.1 Mbbls a year ago.
Oil was 539.2 Mbbls against 433.4 Mbbls a year ago. Total production was 28,679.7 MMcfe against 23,490.9 MMcfe a year ago.

For the year, the company produced natural gas of 87,404.2 MMcf against 60,921.9 MMcf a year ago. NGLs was 2,713.7 Mbbls against 2,446.2 Mbbls a year ago.
Oil was 1,622.4 Mbbls against 1,343.8 Mbbls a year ago. Total production was 113,420.8 MMcfe against 83,661.9 MMcfe a year ago.

The company reaffirmed production for the first quarter and production and capex guidance for the full year 2018. For the first quarter, the company expects production in the range of 304 MMcfe/d to 311 MMcfe/d.

For the full year, the company expects production in the range of 335 MMcfe/d to 355 MMcfe/d and capex in the range of $300 million to $320 million.