Montage Resources Corporation Announces Execution of a Renegotiated Gas Gathering Agreement and Updates its 2020 and 2021 Hedging Portfolio
Montage Resources Corporation (MR)
Last montage resources corporation earnings: 3/5 04:04 pm
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Source: Business Wire
IRVING, Texas--(BUSINESS WIRE)--Montage Resources Corporation (NYSE:MR) (the “Company” or “Montage Resources”) today is pleased to announce it has entered into a new consolidated gas gathering agreement and has added downside protection to natural gas prices in 2020 and 2021 through incremental hedges recently executed.Gas Gathering AgreementThe Company has recently completed the renegotiation of significant existing gas gathering contracts with a midstream partner into a single new consolidated gas gathering agreement in order to enhance its already peer-leading cash operating margins.Consolidated Gas Gathering Agreement Highlights:Ensures a dedicated gatherer for the Company’s valuable Marcellus Ohio development with a significantly improved fee structure relative to the prior agreements for all existing and future developmentDelivers gas gathering and compression fee reductions relative to the prior agreements, with an estimated undiscounted gross cost savings over the life of
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