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Jones Down to Three Rigs in 3Q; IPs 24 Cleveland Wells
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Jones Energy, Inc. announced financial and operating results for the quarter ended September 30, 2015. For the quarter ended September 30, 2015, the Company reported net income of $34.8 million, an adjusted net loss of $1.6 million, and EBITDAX of $67.5 million.
Key Points: The Company increased activity from a four rig program to a five rig program in early July. Following the drop in oil prices during the month of August, the fourth and fifth rig were released in early September and activity was reduced to the previous three rig program. During the third quarter, the Company spud 21 wells and completed 22 wells, with a total of 24 wells seeing first production during the quarter. Average daily net production for the quarter was 25.3 MBoe/d, 2,300 Boe/d above the top end of…- ✓ Full news archive — U.S., Canada & international coverage
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