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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