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ES - Montage targets 16% production growth, cash flow neutrality - March 26, 2019

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At its first investor day on March 20, Montage Resources laid out its “Focus Five” strategy, comprised of cash flow and returns; cost and structure improvement and integration; financial and operational flexibility; portfolio optimization; and enhancing scale with disciplined growth. In terms of cash flow and returns, Montage plans to deliver a 25% reduction in lateral lengths, with 2019 horizontals averaging 11,700 ft versus 15,400 ft in 2018, and decrease initial wells per pad from five or six to three or......
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