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
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.