Montage Resources to Sell Non-Core Wellhead Gathering in Ohio Utica for $25 Million

Updated 1 year 2 months ago

Montage Resources has entered into a non-binding letter of intent with an international third party to sell its non-core wellhead gathering infrastructure in the Ohio Utica development area. The company will receive a cash payment of $25 million with the transaction expected to close in the fourth quarter of 2020.

John Reinhart, President & CEO

We are extremely pleased to be working with this well-established third-party on the sale of these non-core assets and the proceeds will provide the company the ability to reduce leverage, enhance liquidity and maintain its already strong balance sheet.