Jones Energy Inc. (NYSE: JONE) completed its $136.5 million acquisition in the Stack and Scoop plays and as a result opened an office in Oklahoma City, the company said Sept. 27.
Jones, which is based in Austin, Texas, had entered the agreement Aug. 18 to acquire about 18,000 net acres primarily in southern Canadian and northern Grady counties in Oklahoma. The seller is Scoop Energy Co. LLC, an associated company of American Energy Partners.
The company funded the acquisition with a portion of the about $152 million in net proceeds from its recently completed offerings of its common stock and preferred stock. Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC were joint book-running managers for the offerings.
Mike McConnell will lead the team at the company's 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," McConnell said in a statement.
RELATED:
Jones Energy Steps Into The Stack/Scoop With 18,000 Net Acres
Recommended Reading
Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
US Drillers Cut Most Oil Rigs in a Week Since November
2024-04-26 - The number of oil rigs fell by five to 506 this week, while gas rigs fell by one to 105, their lowest since December 2021.
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
Chevron’s Tengiz Oil Field Operations Start Up in Kazakhstan
2024-04-25 - The final phase of Chevron’s project will produce about 260,000 bbl/d.
Rhino Taps Halliburton for Namibia Well Work
2024-04-24 - Halliburton’s deepwater integrated multi-well construction contract for a block in the Orange Basin starts later this year.