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Jones Completes Premier Merge Wells in Q4; Updates Cleveland Ops
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Jones Energy reported its Q4 2016 results.
Highlights: Initial operated Merge wells the BENNETT 24-11-6 1WH and HARDY 25-11-6 1WH both successfully completed and on initial flowback. Completion operations on third operated well, the BELYEU 33-9-5 1WH are underway. Drilling on the fourth well has commenced.Added approximately 3,290 net acres in the Merge to date since initial acquisition of Merge acreage in September 2016. The Company’s Merge position is currently approximately 21,300 net acres.
Net loss for the fourth quarter 2016 of $52.2 million, or a loss of $0.53 per share. Non-GAAP adjusted net loss of $5.3 million, or a loss of $0.07 per share.
Net loss for the full year 2016 of $84.8 million and EBITDAX for the full year 2016 of $188 million1.
Production for the full year 2016 of…
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