Scoop & Stack

Jones Energy Closes Acreage Deal

Seller: Scoop Energy Co. LLC

Jones Energy, Inc. (NYSE:JONE) (“Jones Energy” or the “Company”) today announced the closing of its previously announced STACK/SCOOP acquisition for a closing price of $136.5 million, subject to customary post-closing adjustments, and announced the opening of an office in Oklahoma City, OK as a result of this acquisition. The Company funded the acquisition with a portion of the approximately $152 million in net proceeds from its recently completed offerings of Class A common stock and Series A perpetual convertible preferred stock.

oklahoma-mineral-rights2

The seller was Scoop Energy Co. LLC, an associated company of American Energy Partners which shut down in May, according to filings with the Securities and Exchange Commission. Jones Energy already has about 181,353 leased acres in the Midcontinent’s Anadarko and Arkoma basins in Oklahoma and the Texas Panhandle, according to the company’s website.

Jonny Jones, the Company’s Founder, Chairman, and CEO, commented, “I am pleased to announce the closing of this transformative transaction. We are focused on leveraging our best-in-class Midcontinent operating expertise to develop this asset. I look forward to providing you with updates on our development plan.”

Mike McConnell, the Company’s President, commented, “I will be leading the team at our new Oklahoma City office. We believe having a local presence will play a key role in helping us realize the full potential of this impressive new asset and I am excited to lead that effort.”

Company Overview

Jones Energy Limited, LLC explores and produces natural gas in Texas Panhandle, and Western and Southern Oklahoma. It focuses on horizontal drilling to find oil and gas. The company was founded in 1988 and is based in Austin, Texas with additional offices in Canadian, Texas; and Coalgate, Oklahoma and now Oklahoma City, Oklahoma. Jones Energy Limited, LLC operates as a subsidiary of Jones Energy, Inc.

Comments

The crossroads of energy information for minerals owners in Oklahoma. Where you can: See recent prices of mineral and lease transactions. Receive an offer to lease or buy your minerals.

Find relevant news stories on the most active areas, including the Scoop and Stack Plays.

Data Powered by Oseberg

Today’s E&P world is rapidly shifting towards data-driven decision making, but those decisions are only as good as the data behind them. Access Oseberg's deep, accurate, and detailed pool of insight-rich industry data with our powerful analytical and search tools and get the clearest picture of what's happening as soon as it happens.

Disclaimer

This web site is maintained solely for the personal use of our visitors. Although we at Oklahoma Minerals have made all reasonable efforts to provide accurate information, we cannot guarantee the completeness, timeliness or accuracy of the information contained herein. Nothing in this web site contains investment advice. Any decisions based upon the information contained in this web site are the sole responsibility of the user.

Copyright © 2016 OklahomaMinerals.com

To Top
Show Buttons
Hide Buttons