Montage Resources has reduced its planned 2020 capital spending by 23% from the last guidance to a range of $145-$165 million. The spending is front-loaded by 65% in 2020 with a one rig drilling program focused on the Ohio Marcellus and Utica dry gas areas of Monroe County. Montage will drill and turn to sales 12-16 gross horizontals in 2020.
Montage reaffirmed a prior production guidance of 570-590 MMcfe/d. including 82% gas and 18% liquids.