Blue Ridge Mountain Resources Inc. stockholders have approved the company’s merger with Eclipse Resources Corp., clearing one of the last hurdles for the combination. The deal has already been approved by boths boards and Eclipse’s stockholders. Once the transaction is completed, which is expected in the last week of February, the new company is to be renamed Montage Resources Corp. and trade on the New York Stock Exchange under the symbol “MR.” The new company would have a 227,000 net acre position in Ohio, Pennsylvania and West Virginia, and produce about 560 MMcfe/d.
XTO Energy Inc. and the Ohio Department of Natural Resources have reached a compliance agreement in which the company would pay $850,000 to resolve regulatory violations related to a 2018 well explosion in the state. Under the agreement, first responders in Belmont County, where the Schnegg C-7H exploded, would receive $425,000 to help improve their services. ODNR would receive another $425,000 for its oil and gas regulatory programs. The company lost control of the well while its contractors were finishing up completion operations. There were no injuries, but it took nearly three weeks to cap the well.
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