Montage Resources Corporation Announces Third Quarter 2019 Outperformance, Lowers Cash Production Costs Guidance and Increases Midpoint of Production Guidance for the Full Year 2019
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 announced its third quarter 2019 financial and operational results along with revised full year 2019 guidance. In addition, the Company will be posting an updated investor presentation to its corporate website.Third Quarter 2019 Highlights:Average net daily production was 621.7 MMcfe per day, above the high end of the Company’s previously issued guidance range and above analyst consensus expectationsAverage natural gas equivalent realized price was $2.88 per Mcfe, including cash settled derivatives and excluding firm transportation expensesPer unit cash production costs (including lease operating, transportation, gathering and compression, production and ad valorem taxes) were $1.23 per Mcfe, with the per unit cash production costs outperforming the midpoint of the Company’s previously issued guidance by 9% and analyst consensus expectationsNet income was $4.3 milli
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