Montage Resources Corporation Announces Third Quarter 2019 Production Expected to Exceed the High End of Guidance, Provides Operational Update and Schedules Quarterly Results Release
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 provide an operational update for the third quarter 2019 that includes the following:Highlights:The Company anticipates third quarter 2019 production to be above the high end of the previously announced guidance of between 600-615 MMcfe per day and to exceed current consensus expectationsThe Company has used the recent commodity price volatility to opportunistically add to its hedge book, increasing 2020 natural gas hedges by approximately 30% and having an overall floor of approximately $2.65 on its 2020 natural gas hedged productionGiven the current commodity price environment the Company will continue to run one gross operated rig through the remainder of 2019 and into 2020 in order to balance free cash flow and growth, while maintaining low financial leverage and a strong balance sheet with no near-term debt maturitiesThe Company will release third
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