Jones Energy,Inc. (NYSE:JONE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective February20, 2019, Mr.Scott McCartyresigned from the board of directors (the “Board”) of Jones Energy,Inc. (the “Company”) and all committees thereof. Mr.McCarty was a member of the Nominating and Corporate Governance Committee. The Board accepted Mr. McCarty’s resignation on February 21, 2019.
On February 21, 2019, in connection with Mr. McCarty’s resignation and to the bylaws of the Company, the Board voted to decrease the size of the Board from eight to seven members.
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.
