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Montage Resources Guides 2020 Production Volumes Higher

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Zacks Equity Research
·3 min read
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Montage Resources Corporation MR recently announced an increase in production guidance for 2020 and the June quarter.

Notably, the exploration and production company has returned substantially all its production to sales – as of Jun 1, 2020 – that had been previously curtailed. This development can be attributed to higher cash margins owing to improving oil and NGL prices. The commodity prices are rising since there has been a gradual reopening of economies that will boost fuel demand.

Thus, with the consistent improvement in operational activities along with faster-than-expected return of production to sales, the upstream energy firm has now raised its production guidance for 2020 to 565-585 million cubic feet equivalent per day (MMcfe/D) from the prior 555-575 MMcfe/D. For the June quarter, the company now expects production in the range of 535-555 MMcfe/D, up from the prior guidance of 480-500 MMcfe/D.

Montage Resources added that the latest development reflects its immediate response to the changing business environment amid coronavirus pandemic. Also, the company will continue to be highly responsive and will regulate its production volumes with changing commodity prices. The explorer believes that with the immediate return of the previously-curtailed condensate production to sales, the company will be able to safeguard its balance sheet and cashflow.

Montage Resources Corporation Price

 

Eclipse Resources Corporation Price
Eclipse Resources Corporation Price

Montage Resources Corporation price | Montage Resources Corporation Quote

Based in Irving, TX, Montage Resources currently carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy sector are Murphy USA Inc MUSA, Key Energy Services, Inc. KEGX and CNX Resources Corporation CNX. While Murphy and Key Energy sport a Zacks Rank #1 (Strong Buy), CNX Resources carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Murphy USA is likely to see earnings growth of 7% in the next five years.

Key Energy is expected to witness bottom-line growth of 97.2% in 2020.

CNX Resources has witnessed upward estimate revisions for 2020 bottom line in the past 60 days.

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CNX Resources Corporation. (CNX) : Free Stock Analysis Report
 
Eclipse Resources Corporation (MR) : Free Stock Analysis Report
 
Murphy USA Inc. (MUSA) : Free Stock Analysis Report
 
Key Energy Services, Inc. (KEGX) : Free Stock Analysis Report
 
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