Montage Resources Corporation Announces a $100 Million, 25% Increase, to its Borrowing Base

IRVING, Texas--(BUSINESS WIRE)--Montage Resources Corporation (NYSE:MR) (the “Company” or “Montage Resources”) today announced that the lenders in its revolving credit facility have completed the Company’s fall borrowing base redetermination and unanimously approved a 25% increase in the Company’s borrowing base and provided increased commitments from $400 million to $500 million. In addition, the Company has expanded the lending group from 13 to 15 members, which represents a diverse group of financial institutions. With this $100 million increase, the Company’s liquidity, pro forma for the borrowing base redetermination, would have been approximately $353 million as of the end of the second quarter 2019.