Montage makes deal to sell Utica natgas gathering assets in Ohio
Thursday, July 30, 2020
Montage Resources Corp. has agreed to sell noncore natural gas gathering assets in Ohio’s Utica Shale for $25 million to an undisclosed company, according to Natural Gas Intelligence.
According to Montage, an international company agreed to purchase the infrastructure. The transaction is expected to close in the fourth quarter of this year.
Montage will use the proceeds of the sale to cut debt and improve the strength of its balance sheet.
Learn more: NGI > Montage strikes deal to sell Utica gathering infrastructure
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Depending on the company, royalty payments can arrive monthly or quarterly.
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Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
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