Montage Resources Corporation (MR) 2018年年度报告「NYSE」.pdf

1、MONTAGE RESOURCES 2018 ANNUAL REPORTDear Fellow Shareholders:2018 was a transformative year that repositioned Montage Resources for financial success in 2019 and beyond.Early in 2018,the company initiated a process to evaluate opportunities to maximize shareholder value with the outcome resulting in

2、 a strategic business combination of Eclipse Resources and its offsetting pure-play Marcellus-Utica peer,Blue Ridge Mountain Resources.The strategic combination meaningfully improved the corporate scale of the company from both a production and cash flow perspective,increased the Companys attractive

3、 drilling inventory,upgraded the balance sheet,enhanced corporate liquidity,and balanced corporate midstream and downstream commitments to allow development flexibility and improved commodity pricing netbacks.I would like to thank the teams from both Eclipse Resources and Blue Ridge Mountain Resourc

4、es for their professional and diligent efforts in consummating this transformational merger transaction while remaining highly focused on delivering operational excellence in 2018.Through outstanding cooperation during the transition period and closing process,Montage Resources was able to align cor

5、porate and development goals to realize accelerated merger integration benefits that allowed the Company to formulate an optimized 2019 capital plan.As we set the course for 2019 with the new management team assuming control of the pro forma Company,a strategy shift has been initiated that is aimed

6、at enhancing the focus on corporate,operational,and financial efficiencies in order to demonstrate meaningful progress toward free cash flow generation while growing the company in a disciplined manner.Montage Resources has set in motion its“Focus Five”plan that consists of the following core princi