Wed, Aug. 5, 4:53 PM
Thu, May 14, 12:45 PM
Thu, May 14, 9:16 AM
Wed, May 13, 7:15 PM
- Jones Energy (NYSE:JONE) -6.2% AH after announcing a secondary public offering of 5M common shares by certain stockholders affiliated with Metalmark Capital representing ~22% the fund manager's current ownership in the company.
- The underwriter will have an option to purchase up to an additional 750K shares from Metalmark.
- JONE will receive no proceeds from the offering.
Wed, May 6, 4:39 PM
Wed, Mar. 4, 4:17 PM
Tue, Mar. 3, 5:35 PM
Fri, Feb. 13, 2:29 PM
- Following on a $500M commitment to fund development for Linn Energy, Blackstone's (NYSE:BX) alternative-asset manager GSO Capital Partners is reportedly assembling a $2B fund strictly for energy.
- We expect a number of transactions to happen in the next three months," says GSO's Dwight Scott. "And it's all about liquidity.
- It may be a sign of the times in private equity as the energy sector's bonds slump.
- GSO last week put a large order for CrownRock's $350M high-yield bond -- which came with a 7.75% coupon and yield of 8%, vs. the 6.2% yield-to-worst on Barclays' High Yield Index. And this week GSO joined with Magnetar to get $300M of secured commitments to Jones Energy (NYSE:JONE).
- Related: Jones Energy, Inc. Announces Pricing of $50 Million Registered Direct Offering
- Related: Jones Energy, Inc. Announces $250 Million Private Placement of Senior Notes from Strategic Investors
Wed, Feb. 11, 12:45 PM
Wed, Feb. 11, 9:13 AM
Tue, Feb. 10, 4:59 PM
- Jones Energy (NYSE:JONE) sets its 2015 capital budget at $210M, a 60% reduction from 2014 levels, and projects average daily production of 21.7K-23.7 boe/day.
- JONE says it will continue at its current three rig pace during the first part of the year, and likely will deploy two additional rigs to the Cleveland well to reach a five rig pace by mid-year.
- JONE says it expects to drill 60-70 gross wells during 2015 with an average working interest of ~80%.
- Says year-end 2014 proved reserves rose 29.4% Y/Y to 115.3M boe, with 52% classified as proved developed reserves.
- JONE also announces the launch of a public offering of 4.25M common shares, with an underwriters option to purchase up to an additional 637.5K shares, as well as a $50M direct offering and a $250M private placement of senior notes from Blackstone credit unit and hedge fund Magnetar Capital; all will be used to repay outstanding borrowings under its revolving credit facility.
Tue, Jan. 13, 3:23 PM
- J.P. Morgan's Joseph Allman is “mildly bullish” on oil and gas E&P companies in 2015, as short-term nervousness about the oil market’s oversupply is outweighed by the benefits of low oil prices, declining service costs and a more balanced oil market.
- Allman’s favorite picks among big-cap names are EOG, APC and NBL, among mid-caps are XEC and PXD, plus PDCE in the small-cap space; his least favorite stocks are APA, AREX, GDP and JONE.
- Among majors, JPM analysts Phil Gresh and John Royall initiate SunCor (NYSE:SU) at Overweight, citing "top tier sustainable dividend coverage and leverage, with some underlying growth potential"; the pair also downgrade Cenovus (NYSE:CVE) to Neutral, tags ConocoPhillips with an Underweight rating, and are neutral on Exxon (NYSE:XOM) and Chevron (NYSE:CVX).
- Earlier: Valero Energy upgraded, Marathon Petroleum downgraded at J.P. Morgan
- ETFs: XLE, ERX, VDE, OIH, XOP, ERY, DIG, DUG, IYE, IEO, PXE, FENY, PXJ, RYE, FXN, DDG
Dec. 2, 2014, 5:44 PM
- Oil producers with the most debt are the most at risk in a ~$70/bbl oil price environment, since they have more relative cash flow directed toward interest payments rather than drilling, so they’re most likely to see production declines.
- For investors looking to limit risk, MarketWatch's Philip Van Doorn provides a list of U.S. shale oil producers with market values of at least $50M and share prices above $1 with the highest ratios of debt to equity, in order: UPL, MPO, MRD, ISRL, JONE, XCO, PQ, GDP, LINE, HK.
Nov. 5, 2014, 5:17 PM
Aug. 6, 2014, 7:02 PM
Jun. 9, 2014, 11:58 AM
- Jones Energy (JONE +5%) is initiated with a Buy rating and $23 price target at Brean Capital, which forecasts ratable production growth thanks to a deep bench of drilling targets in the Cleveland interval of the Anadarko Basin in north Texas and west Oklahoma.
- With among the lowest cost structures in the sector at $5.18/boe for Q1 and $4.47/boe for FY 2013, Brean believes JONE is capable of comparatively generating attractive returns through commodity price cycles.
JONE vs. ETF Alternatives
Jones Energy Inc is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma.
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