Jones Energy, Inc. Completes STACK/SCOOP Acquisition and Opens Oklahoma City Office
September 27 2016 - 6:15AM
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.
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.”
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.
Investor Contacts:
Cathleen King, 512-493-4834
Investor Relations
Or
Robert Brooks, 512-328-2953
Executive Vice President & CFO