Quarterly / Earnings Reports | Third Quarter (3Q) Update
Montage: Q3 Output to be at High End of Guidance, Will Maintain One Rig into 2020
Print
|
Montage Resources Corp. reported its preliminary Q3 highlights.
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 expectations
- The 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 production
- Given 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 maturities
- The Company will release third quarter 2019 financial and operational results on Thursday, November 7, 2019 after the market close
John Reinhart, President and CEO, commented, "We continue to see the benefits from the execution of the integration strategy with the significant efficiency gains, cost reductions and shortened cycle times coupled with the ongoing well outperformance contributing to the Company's ability to exceed the high end of the production guidance range. We believe the demonstrated capability of the team at Montage will enable us to maintain the achievements we have made to date while sustaining the Company's commitment of disciplined growth, balance sheet protection and cash flow generation."
More Quarterly - Preliminary News
Talos Details Preliminary Q2 Estimates; 65 MBOEPD in Production
Talos Energy Inc. provided select estimated operational and financial results for the second quarter of 2022. Preliminary 2Q Estimated Results: Average daily production between 65.0 and 65.5 MBOEPD,…
Ring Energy Details Preliminary 1Q22 Results; Production Beats Expectations
Ring Energy, Inc. provided an operational and financial update for the Company's first quarter 2022 sales, drilling program and further debt repayment. Highlights and Recent Key Items: Reported…
HighPeak Energy Preliminary Fourth Quarter Results, Reserve Update
HighPeak Energy, Inc. announced an operational update, 2021 year-end proved reserves, 2022 guidance update, the entry into agreements with various sellers to purchase oil and gas assets and…
Ring Energy Details Preliminary 4Q21 Results, Hedging Update
Ring Energy, Inc. provided an update concerning the Company's fourth quarter and full year 2021 sales volumes, further paydown of debt, commencement of the 2022 drilling program, and…
Earthstone Energy Preliminary Fourth Quarter Results, Reserves
Earthstone Energy, Inc. provided an operations update, released 2022 guidance and announced its year-end 2021 estimated proved reserves. The Company has estimated its oil and gas sales volumes…
Northeast News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Ascent Resources 2026: A Quiet Growth Story for Oilfield Services
Ascent Resources may not be making headlines with rig additions or dramatic well count increases, but a closer read of their March 2026 investor presentation — compared against…
Infinity Closes $1.2B Utica Upstream & Midstream Deal
Infinity Natural Resources has completed its $1.2 billion acquisition of upstream and midstream assets in the Ohio Utica Shale from Antero Resources and Antero Midstream, according to company disclosures…
Antero Resources Completes $2.8B Marcellus Expansion
Antero Resources Completes $2.8B Marcellus Expansion Antero Resources has completed the previously announced acquisition of upstream assets from HG Energy II, LLC, significantly expanding its core position in…
Northeast - Appalachia News
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…
Ascent is quietly setting the Utica productivity curve
For most of the last few years, the Utica story has been about discipline: fewer rigs, fewer headlines, and steady execution from a handful of operators who know…
Kimmeridge Offers $6 Billion for Ascent Resources: A Bid Lands in the Middle of a High-Stakes Sponsor Dispute
What happened Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the privately held U.S. natural gas producer that is controlled by private equity…
Dallas Fed Energy Survey: What Oil and Gas Executives Are Really Saying
The latest Dallas Fed Energy Survey shows a U.S. oil and gas industry that is not collapsing—but is clearly constrained. Executives are operating in a defensive posture, focused…
Infinity and NOG Buy Antero's Ohio Utica Assets for $1.2B: A Vertical-Integration Utica Power Move
Infinity Natural Resources (NYSE: INR) is making a statement in Appalachia. On December 5, 2025, Infinity announced it has signed agreements to acquire a package of upstream and…