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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Montage Resources Drilling 33% of 2019 Wells in Ohio Marcellus!

The former Blue Ridge Mountain Resources (formerly Magnum Hunter Resources) and Eclipse Resources tied the knot and merged at the end of February, promptly renaming itself Montage Resources (see Blue Ridge Merges with Eclipse, Renamed to Montage Resources). The newly merged entity released its first quarter 2019 update last week. We found some fascinating details about Montage’s plans for 2019.
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Blue Ridge Merges with Eclipse, Renamed to Montage Resources

Yesterday was an eventful day for the former Blue Ridge Mountain Resources (nee Magnum Hunter Resources) and Eclipse Resources. We’ve been telling you since last August that the two companies are merging, with Blue Ridge Mountain essentially buying out Eclipse. The deal is done as of yesterday and there is A LOT of news to share–including a name change for the newly combined entity.
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