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Montage Resources Cuts 2020 CapEx 23%; Reaffirms Prior Production Guidance

By Criterion Research
March 26, 2020 -

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.


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Categories
Oil and Gas
Upstream

Commodities
Capital Spending
Crude Oil
Natural Gas
Natural Gas Liquids (NGL)

Tags
Capital Spending
Capital Spending Forecasts
Drilling
Production
Production Forecasts

Regions
Marcellus Shale
Utica

Countries
United States

States
Ohio

Counties
Monroe

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