Jones Energy, Inc. Provides Mid-Year Update on Leasing Program and Schedules 2014 Second Quarter Earnings Release and Conference Call

By Business Wire,  July 08, 2014, 07:30:00 AM EDT


AUSTIN, Texas--(BUSINESS WIRE)-- Jones Energy, Inc. (NYSE:JONE) ("Jones Energy" or "the Company") today provided an update on the Company's 2014 leasing program. To date in 2014, the Company has secured new leases totaling just over 10,000 net acres, primarily in the Texas panhandle. The acquired acreage will yield approximately 78 net drilling locations in the Cleveland formation alone, more than replacing the total number of budgeted Cleveland wells for the full year 2014. The Company expects that many of the leases acquired will be prospective for other formations in addition to the Cleveland. As of mid-year, the Company has spent approximately half of the budgeted leasing dollars for 2014 and continues to actively seek additional leases across the basin.

Jonny Jones, Chairman and CEO of Jones Energy, stated, "We have been very successful in expanding our acreage position within the Anadarko basin during the first half of the year through our leasing efforts. Our ability to replace all of the budgeted Cleveland drilling locations for 2014 at such attractive lease rates should provide significant value for our shareholders. We are excited about the prospect of continued inventory growth during the second half of this year."

Jones Energy today also announced that it plans to release its second quarter financial and operational results on Wednesday, August 6, 2014 after the market closes. In connection with the earnings release, Jones Energy will host a conference call for investors and analysts to discuss its results for the quarter on Thursday, August 7, 2014 at 10:00 a.m. ET (9:00 a.m. CT). The conference call can be accessed via webcast through the Investor Relations section of Jones Energy's website, www.jonesenergy.com, or by dialing (877) 201-0168 (for domestic U.S.) or (647) 788-4901 (International) and entering conference code 70194786.

A telephonic replay will be available approximately two hours after the call on August 7, 2014 through Thursday, August 14, 2014. Participants may access this replay by dialing (855) 859-2056 (for domestic U.S.) or (404) 537-3406 (International), and entering conference code 70194786. A replay of the conference call may also be found on the Company's website.

About Jones Energy

Jones Energy, Inc. is an independent oil and natural gas company engaged in the development and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma. Additional information about Jones Energy may be found on the Company's website at: www.jonesenergy.com.

Source: Jones Energy, Inc.



This article appears in: News Headlines

Referenced Stocks: JONE


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