Montage Resources Corp., Irving, Tex., has increased its full year and second quarter 2020 production guidance. As of June 1, the company has returned substantially all its previously curtailed production to sales in connection with improving crude oil and NGL commodity prices.
Full year production guidance has increased to 565–585 MMcfe/d—an increase of 2% over the midpoint of its previous guidance of 555–575 MMcfe/d. Second quarter production is expected to average 535–555 MMcfe/d.
In March, the company expected full year production of 570-590 MMcfe/d (82% natural gas, 18% oil and natural gas liquids) (OGJ Online, Mar. 26, 2020).
Effective June 1, Matthew Rucker, previously executive vice-president, resource planning and development, was named executive vice-president and chief operating officer, replacing Oleg Tolmachev, whose employment ended June 1. Rucker assumes responsibility over operations in the Ohio Utica and Marcellus shales along with oversight of the company’s drilling and completion operations. He will continue to oversee the reservoir engineering, land, and geology departments.
Montage Resources holds 195,000 net effective core undeveloped acres focused on the Utica and Marcellus Shales of Southeast Ohio, West Virginia, and North Central Pennsylvania.