Montage Resources Corporation Reports Impairment for the First Quarter Ended March 31, 2020; Updates Guidance for the Full Year 2020
The company is adjusting its full year 2020 production guidance to 555 575 MMcfe per day (which is 3% above the reported 2019 production of approximately 548 MMcfe per day) from 570 590 MMcfe per day, approximately 3% lower based upon the midpoint of the Company's previously issued guidance ranges, to account for the prudent second quarter production deferments which will retain flush volumes from these shut-in wells for better pricing.