- Jones Energy (JONE -15.3%) is one of the day's largest NYSE decliners after providing an operations update and 2014 guidance.
- Q4 production rose to a record 1.7M boe (~18.2K boe/day) despite severe weather; FY 2013 production of 6.2M boe (~17K boe/day) was within the previously announced guidance range.
- Says 2013 year-end proved reserves rose 23% Y/Y, and increased 42% in the core Cleveland area; oil and natural gas liquids rose to 56% of the proved reserve base.
- Projecting 2014 average daily production of 22K-23K boe/day, which would mean ~30% Y/Y production growth; plans ~$350M capex for the year.
Jones Energy -15% despite 30% 2014 production growth guidance
Feb 25 2014, 15:45 ET