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PS - Montage to grow output despite 44% plunge in spending - March 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 in 2019 following its formation from the combination of Eclipse Resources and Blue Mountain Resources in February. In 2020, Montage anticipates generating free cash flow.......
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