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Acquisition
6 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
Acquisition

Note 4—Acquisition

On January 18, 2018, Eclipse Resources-PA, LP, a wholly owned subsidiary of the Company, completed its acquisition of certain oil and gas leases, one producing well and other oil and gas rights and interests covering approximately 44,500 net acres located in Tioga and Potter Counties, Pennsylvania from Travis Peak Resources, LLC for an aggregate adjusted purchase price of $90 million, which was paid entirely with approximately 37.8 million shares of the Company’s common stock (the “Flat Castle Acquisition”).  The transaction was accounted for as an asset acquisition.  Approximately $86 million of the purchase price was allocated to unproved oil and natural gas properties and approximately $4 million was allocated to proved oil and gas properties associated with the producing well acquired.  In addition, the Company capitalized approximately $1 million of transaction costs related to the acquisition.  

During the three months ended June 30, 2018, the Company assigned its option to purchase the equity interests of Cardinal Midstream II, LLC (“Cardinal”) to a third party midstream provider.  The third party midstream provider exercised the option and completed its acquisition of Cardinal during July 2018 and the Company is in the process of negotiating a new gathering agreement with the third party midstream provider.