Jones Energy Expands Presence in Cleveland Play
Jones Energy acquired certain oil and natural gas properties located primarily in Ellis County, Oklahoma for a contract price of $33 million, subject to closing conditions. These properties have a current daily production rate of 530 BOE and an incremental 6,700 MBOE attributable to identified drilling locations.
"This transaction represents a very attractive bolt-on acquisition to our growing portfolio of producing wells and drilling locations in the Cleveland Play. We already serve as operator for the majority of these properties and this transaction allows Jones Energy to have significantly greater ownership in the value generated through our Cleveland drilling program," said Jonny Jones, Founder and CEO of JE.