Jones Energy Inc.
Jones Energy Inc. announced that it is emerging from bankruptcy. The company emerges following satisfaction of all of the conditions to effectiveness under the company’s prepackaged chapter 11 plan, previously confirmed by the United States Bankruptcy Court for the Southern District of Texas less than two weeks ago on May 6, 2019. The plan fully equitizes the company’s outstanding prepetition funded debt, authorizes the incurrence of an exit facility, and fully satisfies all trade, customer, employee, royalty, working, and other mineral interest claims without interruption in the ordinary course of business. The company emerges stronger, well-capitalized, and strategically positioned to maximize the value of its asset portfolio.