Hedging | Capital Markets
Appalachia Focused Montage Adds to 2021 Gas Hedge Book, Increase 2020
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The company provided the following prelim look at 1Q'20 results.
Production and Hedging Updates:
- Exceeded the Company's most recent production guidance range of 585-600 MMcfe per day with the preliminary net production for the first quarter 2020 averaging approximately 611 MMcfe per day, which is above analyst consensus estimates
- Increased its 2020 natural gas hedges and now has approximately 65% of its projected natural gas production in 2020 hedged with an average floor price of approximately $2.62 per MMbtu
- Increased its 2021 natural gas hedges and now has an average of approximately 175,000 MMbtu per day of natural gas production with an average floor price of approximately $2.48 per MMbtu
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