Jones Energy,Inc. (NYSE:JONE) Files An 8-K Completion of Acquisition or Disposition of Assets

ME Staff 8-k

7 years ago

Jones Energy,Inc. (NYSE:JONE) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01Completion of Acquisition or Disposition of Assets.

As previously announced, on June 22, 2017, Jones Energy, Inc. (“Jones Energy” or “the Company”) entered into a definitive agreement (the “Arkoma Agreement”) to sell its Arkoma Basin properties (the “Divestiture”) for a purchase price of $65.0 million, subject to customary adjustments. The Company closed the Divestiture on August1, 2017. The Company may also receive a contingent payment of up to $2.5 million based on improving natural gas prices.Unaudited pro forma condensed consolidated information of the Company to give effect to the Divestiture is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 7.01Regulation FD Disclosure.

On August1, 2017, Jones Energy issued a press release announcing the closing of the Divestiture. A copy of the press release is furnished as Exhibit 99.2 hereto and is incorporated herein by reference.

The information disclosed in Item 7.01, including Exhibit 99.2 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities under that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as expressly set forth by specific reference in such filing.

Item 9.01Financial Statements and Exhibits.

(b)Pro Forma Financial information:

Unaudited pro forma information of the Company to give effect to the disposition of our Arkoma assets is filed as Exhibit 99.1 and is incorporated by reference:

— Unaudited pro forma condensed consolidated balance sheets as of June 30, 2017

— Unaudited pro forma condensed consolidated statements of operations for the six months ended June 30, 2017 and the year ended December 31, 2016

(d)Exhibits

ExhibitNo.	Description
99.1	Unaudited Pro Forma Condensed Consolidated Financial Statements.
99.2	Press Release of Jones Energy, Inc., dated August 1, 2017.

Jones Energy, Inc. ExhibitEX-99.1 2 ex-99d1.htm EX-99.1 jone_Ex99_1 Exhibit 99.1 Jones Energy,…To view the full exhibit click here
About Jones Energy,Inc. (NYSE:JONE)
Jones Energy, Inc. is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s assets are located within the Anadarko and Arkoma basins of Texas and Oklahoma. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma. The Company’s oil is generally sold under short-term, extendable and cancellable agreements with unaffiliated purchasers. The Company’s natural gas is sold at delivery points at or near producing wells to natural gas gathering and marketing companies. Its total estimated proved reserves are approximately 101.7 million barrels of oil equivalent (MMBoe). Approximately 25% of its total estimated proved reserves consist of oil, over 32% consist of natural gas liquids (NGLs) and over 43% consist of natural gas. Its properties include over 1,020 gross producing wells.