Marketed Arkoma Woodford Producing Properties Jones Energy Detring Energy Advisors

Jones Energy Inc. (NYSE: JONE) is offering Arkoma Basin Woodford producing properties and leasehold in southeast Oklahoma through a sale handled by Detring Energy Advisors.

The assets are comprised of a position in the Woodford liquids-rich fairway in Atoka, Coal, Hughes and Pittsburg counties, Okla. The sale also includes a low-decline production base and a large inventory of recompletion candidates and proved undeveloped locations, according to Detring.

Highlights:

  • 19 million cubic feet equivalent per day (MMcfe/d) of net production with less than a 15% annual decline;
    • $15 million operating cash flow (next 12 months);
    • 87 Bcfe proved developed producing reserves;
    • $76 million proved developed producing reserves PV-10 value;
    • 68% gas and 32% NGL;
    • All production from horizontal Woodford wells (152 total, 78 operated);
  • About 6,250 net acres (100% HBP);
    • Acreage located throughout the Arkoma Woodford liquids-rich fairway, including multiple large, contiguous positions;
  • Meaningful recompletion and new-drill inventory, Detring said;
    • Horizontal proved developed producing wells averaged about 525 pounds per ft in original completions; and
    • Horizontal Woodford drilling inventory includes 125 gross locations (56 proved undeveloped).

Jones’ assets also include extensive pipeline and processing infrastructure in-place. In addition, Detring said there has been a significant increase in regional horizontal drilling activity with 10 rigs currently running in the area vs. two rigs in April 2016.

Bids are due May 17. Evaluation materials will be available via a virtual data room on April 17.

For information visit detring.com or contact Melinda Faust, director with Detring, at 713-907-2003.