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ES - Montage to grow output despite 44% plunge in spending - February 18, 2020

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Montage Resources plans to spend 44% less at midpoint in 2020 than it did last year, setting its capex target at $190-210 million. Despite the drastic reduction in spending, production is expected to grow 6% at midpoint to 570-590 MMcfe/d. The company reached cash flow neutrality ahead of schedule following its emergence last February from the merger of Eclipse Resources and Blue Mountain Resources. In 2020, Montage anticipates generating free cash flow. Drilling and......
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