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Jones Energy Sells Arkoma Gas Asset for $65 Million; Exits Basin

Announced Date
June 22,2017
Deal Value $
70,000,000
Net Acres
4,200
Transaction Type
Property
Buyer
Not Disclosed
Seller
Jones Energy Inc.
Price Per BOE $
40,000
Source Documents:
   Source Link
   Source Link
   Source Link
Location
Region
Mid-Continent - Arkoma Basin

Country
United States

State
Oklahoma

County
Atoka ,Coal ,Hughes ,Pittsburg

Play
Arkoma-Basin


Production & Reserves
Production
3,000 Boe/d

Production Mix
63 % Liquid

Reserves
14 MMboe (1P)


Multiples
Production ($/boe/d)
23,333

$Price/Net Acre
16,667

$1P Boe
5

Adj. $/acre is based on production @40,000 Boe/d

Transaction Details: 

Jones Energy Sells Mid-Continent asset for $70 million ($65 million attributed to the Arkoma asset).  The buyer was not disclosed.  The company will now focus its efforts on the western Anadarko and Merge play. According to the company's 10k, the Arkoma Woodford produced 3 Mboe/d (33% oil) as of December 2016.  The company estimates the properties contain 14 MMboe of proved reserves of which 33% is oil and NGLs.

 


Other Mid-Continent - Arkoma Basin Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jul-08-2019 - - Click here Oklahoma  E&P
Dec-12-2018 - - Click here Oklahoma  E&P
Nov-01-2018 - - Click here Utah  E&P
Jan-18-2018 - - Click here Oklahoma  E&P
Sep-14-2017 - - Click here Oklahoma  E&P

Price History


Date Deal Headline Price$/acre
Jul-08-2019 Encana to Sell Arkoma Basin Gas Assets for $165 Million - -
Dec-12-2018 Riviera Resources Sells Arkoma Assets for $68MM - -
Nov-01-2018 Encana to Acquire Newfield in All-Stock Deal Worth $5.5 Billion - -

Other Jones Energy Inc. Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Aug-18-2016 - - Click here Oklahoma  E&P
Aug-04-2016 - - Click here Texas  E&P
Nov-05-2015 - - Click here Oklahoma  E&P
Dec-10-2014 - - Click here Texas  E&P
Nov-26-2013 - - Click here Texas  E&P