Jones Energy, Inc. Announces Unaudited Consolidated Earnings and Production Results for Third Quarter and Nine Months Ended Sept. 30, 2016; Provides Operating Guidance for the Fourth Quarter and Full Year of 2016
The company reported Average net (Boe/d) of 18,609 Boe/d against 25,261 Boe/d for the same quarter a year ago.
For the year to date, the company reported total operating revenues of $88,355,000, operating loss of $81,410,000, loss before income tax of $40,795,000, net loss attributable to common shareholders of $14,952,000 or $0.44 basic and diluted per share, net cash provided by operations of $14,909,000, additions to oil and gas properties of $210,878,000, acquisition of other property, plant and equipment of $194,000 compared to the total operating revenues of $159,165,000, operating loss of $77,762,000, loss before income tax of $15,232,000, net loss attributable to common shareholders of $3,017,000 or $0.12 basic and diluted per share, net cash provided by operations of $89,059,000, additions to oil and gas properties of $280,528,000, acquisition of other property, plant and equipment of $1,034,000 for the same period a year ago. The company reported EBITDAX of $144,149,000 against $203,315,000 for the same period a year ago. Adjusted net loss attributable to common shareholders was $4,337,000 or $0.13 per basic and diluted share against income of $72,000 a year ago.
The company reported Average net (Boe/d) of 19,193 Boe/d against 25,659 Boe/d for the same period a year ago.
The Company is increasing its 2016 production and capital guidance and is also providing production guidance for the fourth quarter of 2016. Projected average production for the full year 2016 is expected to be between 18.6 MBoe/d and 19.4 MBoe/d. Higher 2016 production guidance is driven by continued base business outperformance as well as increased average working interest in the company Cleveland development program. Also increasing 2016 capital guidance to $110 million primarily due to the higher average Cleveland working interest, the spudding of first well in the STACK/SCOOP trend, and expected opportunities to lease or acquire additional acreage in the STACK/SCOOP trend.