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Jones Resumes Cleveland Ops with Three Rigs; Ups Capex for 2017
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Jones Energy, Inc. announced financial and operating results for the quarter ended June 30, 2016 and increased 2016 production guidance while lowering capital guidance.
Key Points: The Company resumed its drilling program in April 2016 and had three rigs running as of June 2016. 2017 Preliminary Forecast: Highlights: Average daily net production for the second quarter 2016 of 18.6 MBoe/d, with oil production of 4.4 MBbl/d Increasing full year 2016 production guidance by 5% Lowering full year 2016 capital guidance by 10% Lease operating expense for the second quarter 2016 of $7.5 million, down 12% from last quarter Entered into an agreement to acquire approximately 26,000 net acres in Anadarko Basin for $27.1 million, which is expected to add 92 gross/68 net Cleveland locations in…- ✓ Full news archive — U.S., Canada & international coverage
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