Appalachian pure-play Montage Resources Corp. has agreed to sell noncore natural gas gathering assets in Ohio’s Utica Shale to an undisclosed company for $25 million. Montage said an international company agreed to purchase the infrastructure, which is in a condensate development area. The transaction is expected to close in 4Q2020. Proceeds would be used to…
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Appalachian pure-play Montage Resources Corp. said rising oil and natural gas liquids (NGL) prices have prompted it to bring back production curtailed earlier in the year, which has led to an increase in full-year guidance.
Two more operators with dominant footprints in the Appalachian Basin have announced plans to curb some production as oil prices remain low and energy demand is weak because of the Covid-19 pandemic.
Appalachian pure-play Montage Resources Corp. on Friday touted 2019 as a year of transformation, as CEO John Reinhart called it a “significant inflection point” for the company’s operations following a merger between Blue Ridge Mountain Resources and Eclipse Resources that created the company.
Appalachian pure-play Montage Resources Corp. plans to run only one rig through the remainder of the year and in 2020 as it weathers the current low-cost commodity cycle.
Appalachian pure-play Montage Resources Corp. plans to slash spending by $30 million through the remainder of the year as natural gas prices stagnate, but production is expected to increase.
Sticking to its commitment to a disciplined growth strategy, newly formed Appalachia-focused Montage Resources Corp. plans to scale back its drilling program amid expected lower commodity prices for the second half of 2019.