Jones Energy Agrees To $201 Million Buyout By Revolution

Six months after exiting bankruptcy, Jones Energy II Inc. said it agreed Dec. 6 to sell its assets and merge with Revolution Resources, an affiliate of Mountain Capital Partners LP, for $201.5 million cash.

Jones Energy entered bankruptcy protection in April with secured and unsecured liabilities of more than $1 billion. The company, with assets in the Anadarko Basin in Oklahoma and Texas, emerged from reorganization 33 days later with a $225 million borrowing base agreement.

Jim Addison, Jones Energy’s chairman of the board, said the agreement marks the successful completion of its strategic alternatives process underway since earlier this year.