Benjamin W. Hulburt and Christopher K. Hulburt, former senior executive officers of Rex Energy Corp. (Nasdaq: REXX), have formed Eclipse Resources I LP, an independent oil and gas company headquartered in State College, Pennsylvania.
Eclipse Resources is being formed in partnership with EnCap Investments LP with $150 million of total equity committed from EnCap and Eclipse Resources management. The new company will focus on the acquisition, exploration and development of unconventional oil and natural gas properties in the Appalachian Basin, including the Marcellus shale, Utica shale and Upper Devonian shales.
Prior to forming Eclipse Resources, Benjamin Hulburt was president and CEO of Rex Energy, which has operations in the Appalachian Basin, Illinois Basin and Rockies regions of the United States. Hulburt co-founded the first Rex Energy partnership in 2001. In 2007, he led the Rex Energy-affiliated group of companies through its merger and initial public offering.
Previously, Christopher Hulburt was general counsel, executive vice president and secretary of Rex Energy, where he was responsible for managing all legal and compliance affairs, contract negotiations and legal due diligence.
"Chris and I are very excited to be partnering with such a well-respected firm in this new endeavor and appreciate the confidence EnCap has placed in the Eclipse Resources team," says Benjamin Hulburt. "We are pursuing acquisition opportunities in the Appalachian Basin, commencing grass roots leasing in our target areas and continuing to expand our team."
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