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Jones Energy Inc. (JEII)

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Last Post: 5/23/2019 7:57:14 AM - Followers: 14 - 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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#115   Thank you! Nisti 05/23/19 07:57:14 AM
#114   $JONEQ: Thats typically how it works....... unfortunately makinezmoney 05/23/19 07:39:17 AM
#113   Distributions to Prepetition Noteholders Nisti 05/22/19 08:16:09 PM
#112   So they will cancel the shares of the Nisti 05/22/19 07:48:12 PM
#111   $JONEQ: I got an email from Jones-Energy IR-team makinezmoney 05/21/19 10:30:06 AM
#110   Hi Makinezmoney, Nisti 05/21/19 10:28:16 AM
#109   Yes, most reorganized companies create new shares to Renee 05/20/19 08:44:59 AM
#108   So are they canceling all shares (JONEQ) and Nisti 05/18/19 09:02:42 AM
#107   JONEQ (JNEEQ Preferred Shares): Bankruptcy PLAN effective. All Renee 05/17/19 07:29:12 PM
#106   Shares cancelled as expected. Retail gets screwed again! 420man 05/17/19 11:00:16 AM
#105   No volume at all today ???? GoldiS 05/14/19 03:13:06 PM
#104   Similar situation just happened with Aegean Marine (ANWWQ) GoldiS 05/10/19 01:21:19 PM
#103   Yeah looks like another ANWWQ situation. I just GoldiS 05/10/19 01:13:47 PM
#102   stock not worthless obviously ,they swap for 1bl$ 81vette 05/08/19 10:06:02 AM
#101   Hmmmmm.... whatarush12 05/07/19 05:22:49 PM
#100   $JONEQ: Another Aegean-Marine in the making ????? makinezmoney 05/07/19 01:28:29 PM
#99   What worries me not the volume of oil MAbWA 05/07/19 12:01:29 PM
#98   U2 tdeck 05/07/19 11:20:00 AM
#97   I started buying some @.10-.12 and I tdeck 05/07/19 11:19:47 AM
#96   Win some lose some. GL 420man 05/07/19 11:08:38 AM
#95   Your right and I agree just in this tdeck 05/07/19 11:05:25 AM
#94   Ok, I see MAbWA 05/07/19 11:03:29 AM
#93   Sold majority today I was in most my tdeck 05/07/19 11:03:01 AM
#92   From my POV... These Companies and their lenders 420man 05/07/19 11:01:27 AM
#91   What do you mean by "able to get MAbWA 05/07/19 11:00:03 AM
#90   I know there is always risk in these tdeck 05/07/19 10:43:56 AM
#89   Thanks, that explains a lot MAbWA 05/07/19 10:39:18 AM
#88   What Will Happen to My Stock or Bond? 420man 05/07/19 10:34:14 AM
#87   And current shareholders will lose everything ? MAbWA 05/07/19 10:22:14 AM
#86   Current commons will almost certainly be canceled, and 420man 05/07/19 09:29:43 AM
#85   Yeah..as a private company. Actualfactual 05/06/19 09:41:19 PM
#84   $JONEQ Wins approval of $1 Billion Debt cutting tdeck 05/06/19 04:53:16 PM
#83   $1 billion in debt not lost $12 billion tdeck 04/24/19 07:12:48 AM
#82   Then your short is safe and you should tdeck 04/22/19 10:13:59 AM
#81   JONEQ is finished! Loss: $12 Billion or $210/share. hondaboost 04/22/19 09:49:02 AM
#80   Who thinks it’ll go up Coco219 04/21/19 08:19:59 PM
#79   As expected right on time, nothing new. tdeck 04/21/19 11:41:30 AM
#78   Material Modification of Rights of Security Holders. 420man 04/21/19 09:30:54 AM
#77   Especially w/ the low float and the possible Coco219 04/17/19 01:25:16 PM
#76   I Agree! I think we’ll see some fireworks Coco219 04/17/19 01:24:37 PM
#75   I Agree! I think we’ll see some fireworks soon Coco219 04/17/19 01:24:24 PM
#74   I haven't a clue, I just am accumulating tdeck 04/17/19 12:24:48 PM
#73   The guy from StockTwits is definitely worried cause Coco219 04/17/19 12:13:34 PM
#72   Some one is buying all these shares at .1 Coco219 04/16/19 06:37:27 PM
#71   JONE changed to JONEQ, bankruptcy. (Preferred Shares JNEEP Renee 04/15/19 06:43:59 PM
#70   Not sure what you mean by "get your 420man 04/15/19 04:32:39 PM
#69   Ya think? That would not be entirely tdeck 04/15/19 04:30:25 PM
#68   Blood bath coming.... 420man 04/15/19 04:27:22 PM
#67   Well, I like playing these when they are tdeck 04/12/19 04:19:55 PM
#66   I got a couple thousand shares! You think Coco219 04/12/19 04:07:03 PM