Stop Press! Southwestern Energy Buying Montage Resources for $857M

Holy smokes! We didn’t see this one coming. Just yesterday MDN brought you the second-quarter update from Montage Resources (see Montage Resources: 5 New OH Utica Wells, Profits Tumble in 2Q). Little did we know the company was in an advanced stage of negotiations to sell itself to Southwestern Energy. Perhaps “sell” isn’t quite the right word. The two companies are merging, with Southwestern taking over Montage, in an all-stock deal worth roughly $204.3 $857 million (NOTE: We amended this article after Raymond James calculated the deal to be worth a much higher amount, see our update below). The combination will create the third-largest (by acres leased) Marcellus/Utica driller with a combined 786,187 net acres.

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