EPSN - Montage Resources: Swearing Off Debt Addiction
Montage Resources (MR) management clearly got the memo about conservative balance sheet management. This is one management that clearly did not need a reminder because much of management has painful personal experience with debt.
Source: Montage Resources May, 2020 Investor Presentation
The above slide reads like a "Who's Who" of Appalachian financial disasters and near misses. There are some financially solid companies there. But there is enough experience gained from financially stressed companies to keep this company management "on the wagon".
This company itself was formed when Eclipse (which was financially stretched) merged