Montage Resources provided an update on fourth-quarter and full-year 2019 performance and what to expect in 2020 last Friday. You may recall Montage is the name of the company that resulted after the merger of Eclipse Resources with Blue Ridge Mountain Resources one year ago (see Blue Ridge Merges with Eclipse, Renamed to Montage Resources). Montage previously announced it will mainly focus on drilling Marcellus wells in Ohio (not a typo!). Perhaps most notable about the company update from Friday is that for three years running (consolidated numbers) the company has turned a profit–the largest profit being in 2019, with $31.8 million. That’s remarkable given the economic pickle drillers are in right now.
Montage Resources provided an update on fourth-quarter and full-year 2019 performance and what to expect in 2020 last Friday. You may recall Montage is the name of the company that resulted after the merger of Eclipse Resources with Blue Ridge Mountain Resources one year ago (see 