Montage Res. Drilled 4 Utica Wells in 1Q, Budget Cut Another 10%

Montage Resources, the new name for the merger of Eclipse Resources with Blue Ridge Mountain Resources a year ago, issued its first-quarter 2020 update on Friday. Montage drills exclusively in the Marcellus/Utica region. The company continues to trim its 2020 drilling budget, now down another 10% from just several weeks ago, to $130-$150 million.

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