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Jones Energy (JONE)

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Last Post: 4/18/2017 7:06:37 PM - Followers: 5 - Board type: Free - Posts Today: 0

Company Description We are an independent oil and gas company engaged in the development, production and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma. Our CEO, Jonny Jones, founded our predecessor company in 1988 in continuation of his family's long history in the oil and gas business, which dates back to the 1920s. We have grown rapidly by leveraging our focus on low cost drilling and completions and our horizontal drilling expertise to develop our inventory and execute several strategic acquisitions. We have accumulated extensive knowledge and experience in developing the Anadarko and Arkoma basins, having concentrated our operations in the Anadarko basin for 25 years and applied our knowledge to the Arkoma basin since 2011. We have drilled over 580 total wells since our formation, including over 400 horizontal wells, and delivered compelling economic returns over various commodity price cycles. Our operations are focused on horizontal drilling and completions within two distinct basins in the Texas Panhandle and Oklahoma: . the Anadarko Basin—targeting the liquids-rich Cleveland, Granite Wash, Tonkawa and Marmaton formations; and . the Arkoma Basin—targeting the liquids-rich fairway of the Woodford shale formation. We optimize returns through a disciplined emphasis on controlling costs and promoting operational efficiencies, and we believe we are recognized as one of the lowest-cost drilling and completion operators in the Cleveland and Woodford shale formations. The Anadarko and Arkoma basins are among the most prolific and largest onshore producing oil and natural gas basins in the United States, enjoying multiple producing horizons and extensive well control demonstrated over seven decades of development. The formations we target are generally characterized by oil and liquids-rich natural gas content, extensive production histories, long-lived reserves, high drilling success rates and attractive initial production rates. We focus on formations in our operating areas that we believe offer significant development and acquisition opportunities and to which we can apply our technical experience and operational excellence to increase proved reserves and production to deliver compelling economic rates of return. Our goal is to build value through a disciplined balance between developing our current inventory of 2,435 gross identified drilling locations and actively pursuing joint venture agreements, farm-out agreements, joint operating agreements and similar partnering agreements (which we refer to as joint development agreements), organic leasing proximate to existing acreage and strategic acquisitions. In all of our joint development agreements, we control the drilling and completion of a well, which is the phase during which we can leverage our full operational expertise and cost discipline. Following completion, we in some cases may turn over operatorship to a partner during the production phase of a well. We believe the ceding to us of drilling and completion operatorship in our areas of operation by several large oil and gas companies, including ExxonMobil, BP and ConocoPhillips, reflects their acknowledgement of our low-cost, safe and efficient operations. From December 31, 2010 through December 31, 2012, through our acquisitions and drilling program, we grew our proved reserves from approximately 34 MMBoe to 85 MMBoe, representing a compound annual growth rate of approximately 58%, while our average daily net production increased over the same period from approximately 6.6 MBoe/d to 13.3 MBoe/d, representing a compound annual growth rate of approximately 42%. For the month ended April 30, 2013 our average daily net production was 15.8 MBoe/d. In the context of our historical performance and business strategy execution, we believe we have the opportunities, experience and knowledge to continue growing both our reserves and production. As of December 31, 2012, our total estimated proved reserves were approximately 85 MMBoe, of which approximately 46% were classified as proved developed reserves. Approximately 55% of our total estimated proved reserves as of December 31, 2012 consisted of oil and NGLs, and 45% consisted of natural gas. As of December 31, 2012, our properties included approximately 720 gross active producing wells. For the three years ended December 31, 2012, we drilled 154 wells, substantially all of which we drilled as operator. The following table presents summary acreage, reserve and production data for each of our core operating areas: Month ended As of December 31, 2012 April 30, 2013 As of April 30, 2013 Estimated net Average daily proved reserves net production Acreage % Oil and % Oil and Gross Net MMBoe NGLs(1) MBoe/d NGLs(1) acreage acreage Anadarko basin: Cleveland 40.5 63.8% 8.6 64.2% 102,445 60,575 Granite Wash 4.7 40.2% 1.2 44.3% 10,011 3,915 Arkoma basin: Woodford(2) 37.9 49.9% 4.1 31.9% 14,539 3,725 Other 2.2 29.4% 1.9 63.3% 37,917 12,762 All properties 85.3 55.4% 15.8 (3) 54.2% 164,912 80,977 (1) Ethane is an NGL and is included in this percentage. Due to recent declines in ethane pricing and increases in natural gas prices, beginning in December 2012, purchasers of our Woodford production have been electing not to recover ethane from the natural gas stream and instead have been paying us based on the natural gas price for the ethane left in the gas stream. As a result of the increased energy content associated with the returned ethane and the absence of plant shrinkage, this ethane rejection has increased the incremental revenue and volumes that we receive for our natural gas product relative to what we would have received if the ethane was separately recovered, but has reduced physical barrels of liquid ethane that we are selling. (2) Includes proved undeveloped reserves associated with our joint development agreement with Southridge Energy, LLC. (3) Average daily net production increased from 13.3 MBoe/d for the year ended December 31, 2012, to 15.8 MBoe/d for the month ended April 30, 2013, primarily due to new wells added through our drilling activities and the acquisition of 36 gross productive wells in connection with the Chalker acquisition. The following table presents summary well and drilling location data for each of our key formations for the dates indicated: As of December 31, 2012 As of April 30, 2013 Identified Producing drilling wells locations(1) Gross Net Gross Net Anadarko basin: Cleveland 293 191 521 323 Granite Wash 23 16 14 5 Tonkawa — — 194 111 Marmaton — — 351 190 Arkoma basin: Woodford 122 47 904 127 Other 282 75 451 20 All properties 720 329 2,435 776 (1) Our total identified drilling locations include 361 gross locations associated with proved undeveloped reserves as of December 31, 2012. We have estimated our drilling locations based on well spacing assumptions for the areas in which we operate and other criteria. Our 2012 capital expenditures, excluding acquisitions, totaled $122.1 million, during which we drilled 48 gross wells. We expect our 2013 capital expenditure budget to be approximately $204.0 million, $180 million of which we expect to use to drill and complete 93 gross (54 net) wells. The remainder of the 2013 capital expenditure budget is expected to be devoted to seismic, leasing and other discretionary expenditures. Assuming current market conditions and drilling success rates comparable to our historical performance, we believe we will be able to fund substantially all of our 2013 budgeted capital expenditures with our cash flow from operations. We currently expect to allocate our 2013 capital expenditure budget as follows: 2013 capital expenditure budget Wells (in thousands) (gross/net) Drilling and completion: Cleveland $ 148,900 62/45 Woodford 22,700 20/8 Other drilling 8,100 11/1 Other activities 24,300 — All properties $ 204,000 93/54 ------ Our principal executive offices are located at 807 Las Cimas Pkwy, Suite 350, Austin, Texas 78746, and our telephone number is (512) 328-2953. Our website address is www.jonesenergy.com. Read more: http://www.nasdaq.com/markets/ipos/company/jones-energy-inc-907504-72629#ixzz2eDjQZeEY
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JONE News: Amended Statement of Changes in Beneficial Ownership (4/a) 05/23/2017 10:43:17 AM
JONE News: Amended Statement of Changes in Beneficial Ownership (4/a) 05/23/2017 10:42:24 AM
JONE News: Amended Statement of Changes in Beneficial Ownership (4/a) 05/23/2017 10:41:56 AM
JONE News: Current Report Filing (8-k) 05/18/2017 05:00:33 PM
JONE News: Jones Energy, Inc. Announces Results of Annual Stockholder Meeting and Changes to Its Board of Directors 05/18/2017 04:50:57 PM
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#19   1.75 maybe coming quickly. Keep on radar Betchips 04/18/17 07:06:37 PM
#18   u said it Fibanotch 04/08/17 07:54:24 PM
#17   Oh yea, maybe next week if world economy Betchips 04/07/17 03:02:57 PM
#16   all in Fibanotch 04/07/17 02:43:36 PM
#15   I would like 1.75 Betchips 04/07/17 02:39:33 PM
#14   u r correct ser Fibanotch 04/07/17 02:29:48 PM
#13   Been watching Jone, sold for a small profit Betchips 04/06/17 03:38:41 PM
#12   like 2 get at 175 Fibanotch 04/06/17 03:34:46 PM
#11   Just bought some at 2.55 this morning Betchips 03/13/17 02:03:14 PM
#10   picked some up here BullishSwag 10/05/16 12:15:42 PM
#9   JONE RSI 36. Like this around 2.79 2.75 Latinachica 09/01/16 12:02:35 AM
#8   Eyeballing this one. sick nam vet 08/19/16 02:47:55 PM
#7   $JONE recent news/filings stocktrademan 03/09/16 10:13:31 AM
#6   $JONE with great earning news yesterday! Waiting to iporter0400 03/08/16 08:24:20 AM
#5   $JONE recent news/filings stocktrademan 12/11/15 04:56:06 PM
#4   I'll have a bid in the morning. Bylerzone 05/07/15 11:43:27 PM
#3   CEO is buying and earnings date is NOV 5 Lehrjet 11/03/14 08:31:35 AM
#2   30per. Growth for fy14. Plans to improve ziff 02/28/14 12:25:48 PM
#1   Anyone close enough to jone to know how ziff 02/01/14 05:07:07 PM
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