Montage Resources Cuts Drilling Program to 1 Rig in 2nd Half 2019

Montage stock performance last 6 mo (click for larger version)

Montage Resources, which formed in a merger of Eclipse Resources and Blue Ridge Mountain Resources (formerly Magnum Hunter Resources) in March of this year, issued an operational update on Monday. The update says the company will produce more gas than it previously forecast for the second half of 2019. It also says because the price of gas is so darned low, they are cutting back from two to one active drilling rig in 2H19.

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