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Jones Betting on Open-Hole Design in the Cleveland
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Jones Energy, Inc. announced financial and operating results for the quarter ended March 31, 2015. For the quarter ended March 31, 2015, the Company reported net income of $5.7 million, adjusted net income of $2.9 million, and EBITDAX of $71.2 million.
The company also detailed its current Cleveland strategy (see below).
2015 First Quarter Highlights Average daily net production for the quarter was 26.4 MBoe/d (above the top end of guidance); oil production in the first quarter of 2015 was 8.4 MBoe/d, up 27% from the fourth quarter of 2014 Cleveland daily net production for the quarter was 19.0 MBoe/d, up 11% from the fourth quarter of 2014; oil composed 41% of the total average daily volume Spud twelve 33 stage open-hole wells to date, eleven of which have been completed and are either…Finish this article — free account or subscription
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