0001104659-15-064218.txt : 20150909 0001104659-15-064218.hdr.sgml : 20150909 20150909081541 ACCESSION NUMBER: 0001104659-15-064218 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150909 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150909 DATE AS OF CHANGE: 20150909 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Jones Energy, Inc. CENTRAL INDEX KEY: 0001573166 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 800907968 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36006 FILM NUMBER: 151097979 BUSINESS ADDRESS: STREET 1: 807 LAS CIMAS PARKWAY STREET 2: SUITE 350 CITY: AUSTIN STATE: TX ZIP: 78746 BUSINESS PHONE: 512-328-2953 MAIL ADDRESS: STREET 1: 807 LAS CIMAS PARKWAY STREET 2: SUITE 350 CITY: AUSTIN STATE: TX ZIP: 78746 8-K 1 a15-19091_18k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported): September 9, 2015

 

Jones Energy, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-36006

 

80-0907968

(State or Other Jurisdiction of

Incorporation or Organization)

 

(Commission File
Number)

 

(I.R.S. Employer Identification No.)

 

807 Las Cimas Parkway, Suite 350
Austin, Texas

 

78746

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:  (512) 328-2953

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 7.01.                                        Regulation FD Disclosure.

 

On September 9, 2015, Jones Energy, Inc. (the “Company”) issued a press release announcing an operations update, a guidance update and the posting of a new investor presentation to its website at www.jonesenergy.com. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in this Item 7.01 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 liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.  The Company does not assume any obligation to update such information in the future.

 

Item 9.01.                                        Financial Statements and Exhibits

 

(d)                                           Exhibits

 

Exhibit No.

 

Description

99.1

 

Press release, dated September 9, 2015 (Operational Update; Guidance Update; Investor Presentation)

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date:  September 9, 2015

 

 

JONES ENERGY, INC.

 

 

 

 

 

 

By:

/s/ Robert J. Brooks

 

 

Robert J. Brooks

 

 

Executive Vice President and Chief Financial Officer

 

3



 

EXHIBIT INDEX

 

Exhibit No.

 

Description

99.1

 

Press release, dated September 9, 2015 (Operational Update; Guidance Update; Investor Presentation)

 

4


EX-99.1 2 a15-19091_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

JONES ENERGY, INC. PROVIDES OPERATIONAL UPDATE

 

Austin, TXSeptember 9, 2015 — Jones Energy, Inc. (NYSE: JONE) (“Jones Energy” or “the Company”) today provided an operational update and lowered its 2015 capital expenditure guidance while maintaining its production guidance.  The Company has also posted a new investor presentation to its website for the Barclays CEO Energy-Power Conference.

 

Highlights

 

·                  Running three Cleveland rigs as of September 3, 2015; reduced activity from five rigs running previously

 

·                  2015 capex guidance reduced to $220 million from $240 million; previously increased production guidance maintained

 

·                  Third quarter production ahead of plan, led by natural gas outperformance

 

·                  Expect to run cash flow neutral program in second half of 2015

 

·                  Leasing program underway; approximately 6,000 net acres acquired with more than half of $5 million budget remaining

 

Jones Energy Founder, Chairman, and CEO, Jonny Jones stated, “In response to the current market environment, we have reduced activity to three Cleveland rigs from five rigs running previously.  This reduction in activity should allow us to be cash flow neutral in the second half of 2015 while still achieving our previously increased production guidance.  Results from our 33 stage open-hole wells continue to meet or beat our expectations, with natural gas production exceeding our expectations.  Oil production continues to track the uplift expected from the incremental frack stages.  We are beating our $2.6 million AFE, and see the potential for additional cost savings in a ‘lower for longer’ scenario.”

 

Mr. Jones went on to say, “Our leasing program is off to a great start.  We have already leased nearly 6,000 net acres with more than half of our $5 million budget remaining.  We continue to have ample liquidity and are positioned to capture market opportunities.  We remain substantially hedged and are one of only a few companies that has hedged a meaningful portion of its 2016 and 2017 production.  The mark-to-market value of our hedges as of the end of August was over $230 million.  Our significant hedge book provides cash flow stability and continues to be an asset in the current environment.  We have not yet determined what our 2016 capital spending program will look like, but we remain nimble from an operational perspective and have the ability to generate positive cash flow through 2016 by continuing to run three rigs.”

 

1



 

Guidance

 

The Company is providing updated capital expenditure guidance for the full year 2015, but maintaining all other 2015 guidance metrics. The Company is also maintaining its previous third quarter production guidance.

 

2015 Guidance

 

 

 

2015E

 

3Q15E

Total Production (MMBoe)

 

8.4 - 8.9

 

2.0 - 2.1

Average Daily Production (MBoe/d)

 

23.0 - 24.5

 

22.0 - 23.0

 

 

 

 

 

Oil (MBbls/d)

 

6.8 - 7.3

 

6.3 - 6.6

Natural Gas (MMcf/d)

 

58.5 - 62.5

 

56.5 - 59.0

NGLs (MBbls/d)

 

6.4 - 6.8

 

6.3 - 6.6

 

 

 

 

 

Total Capital Expenditures ($mm)

 

$220.0

 

 

 

2015 Capital Expenditure Summary ($mm)

 

 

 

1H15

 

2H15E

 

2015E

Total Capital Expenditures

 

$

128.1

 

$

91.9

 

$

220.0

 

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.

 

Investor Contact:

Mark Brewer, 512-493-4833

Investor Relations Manager

Or

Robert Brooks, 512-328-2953

Executive Vice President & CFO

 

2


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