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MidCon E&P Ups 2016 Capex by 22%; Taps First SCOOP/STACK Rig

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MidCon E&P Ups 2016 Capex by 22%; Taps First SCOOP/STACK Rig

Jones Energy detailed its Q3 2016 results as well as increased 2016 production and capital guidance.

Key Points: Expect to deploy first rig on new STACK/SCOOP asset in December 2016

Increasing 2016 capital guidance to $110 million (up +22% from $90 million)

Due to the higher average Cleveland working interest, the spudding of our first well in the STACK/SCOOP trend, and expected opportunities to lease or acquire additional acreage in the STACK/SCOOP trend.     2017 Preliminary Forecast: Highlights: Average daily net production for the third quarter of 2016 of 18.6 MBoe/d, above the top end of guidance Completed two acquisitions in the third quarter of 2016, including transformative $136.5 million STACK/SCOOP acquisition and bolt-on $26.3 million Anadarko acquisition Raised $152.3…
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