UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 
Date of Report (date of earliest event reported):  June 22, 2017
 
Jones Energy, Inc.
(Exact name of registrant as specified in its charter)

Delaware	 	001-36006	 	80-0907968	
(State or Other Jurisdiction of
Incorporation or Organization)	 	(Commission File
Number)	 	(I.R.S. Employer Identification No.)	

807 Las Cimas Parkway, Suite 350
Austin, Texas	 	78746	
(Address of Principal Executive Offices)	 	(Zip Code)	
 
Registrant’s telephone number, including area code:  (512) 328-2953
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
 
Emerging growth company x
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

 

 
Item 7.01                                            Regulation FD Disclosure.
 
On June 22, 2017, Jones Energy, Inc. (the “Company”) issued a press release announcing that it has entered into definitive agreements for certain Non-Core Asset Sales (as defined below). A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
 
The information in this Item 7.01, including the accompanying Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing. The Company does not assume any obligation to update such information in the future.
 
Item 8.01                                            Other Events.
 
On June 22, 2017, the Company announced that it has entered into definitive agreements for the sale of several of the Company’s non-core assets for a combined total of $70 million (the “Non-Core Asset Sales”), including an agreement for the sale of its Arkoma Basin properties (the “Arkoma Agreement”). The Arkoma Agreement represents a sale price of $65 million and the transaction is expected to close during the third quarter of 2017, subject to customary closing conditions. The Company intends to use the net proceeds from the Arkoma transaction to repay outstanding borrowings under its revolving credit facility.
 
Item 9.01                                            Financial Statements and Exhibits.
 
(d)                                            Exhibits

Exhibit No.	 	Description	
99.1	 	Press Release of Jones Energy, Inc., dated June 22, 2017.	
 
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SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	JONES ENERGY, INC.	

Date: June 22, 2017	By:	/s/ Robert J. Brooks	
 	 	Robert J. Brooks	
 	 	Executive Vice President and Chief Financial Officer	
 
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EXHIBIT INDEX

Exhibit No.	 	Description	
99.1	 	Press Release of Jones Energy, Inc., dated June 22, 2017.	
 
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Exhibit 99.1

 
JONES ENERGY, INC. EXITS ARKOMA BASIN WITH NON-CORE ASSET SALES
 
Austin, TX — June 22, 2017 — Jones Energy, Inc. (NYSE: JONE) (“Jones Energy” or “the Company”) announced today that it has entered into definitive agreements to sell several non-core assets, including an agreement to sell its Arkoma Basin properties (the “Arkoma Agreement”), for a combined total of up to $70 million, subject to closing adjustments. The Company continues to actively market additional non-core assets.
 
The Arkoma Agreement represents a sale price of $65 million cash, plus up to a $2.5 million contingent payment based on improving natural gas prices. Other non-core assets sold to-date in 2017 total $2.5 million. Subject to customary closing conditions, the Arkoma transaction is expected to be completed during the third quarter of 2017.  The Company expects to use net proceeds to repay outstanding borrowings under its revolving credit facility.
 
Jonny Jones, founder, chairman and CEO said, “We continue to execute on our 2017 goals, ramping activity in the Merge and selling non-core assets to reduce our debt and improve our balance sheet. The sale of our Arkoma basin asset and other properties is a significant catalyst in our deleveraging story. The Arkoma represents just 6% of our projected 2017 revenues and we view the deal as an accretive transaction to the Company. I look forward to updating you with additional non-core asset sales as they occur.”
 
Detring Energy Advisors served as exclusive advisor for the Arkoma asset sale.
 
About Jones Energy
 
Jones Energy, Inc. is an independent oil and natural gas company engaged in the development and acquisition of oil and natural gas properties in the Anadarko basin of Texas and Oklahoma.  Additional information about Jones Energy may be found on the Company’s website at: www.jonesenergy.com.
 
Investor Contact:
Page Portas, 512-493-4834
Investor Relations Associate
Or
Robert Brooks, 512-328-2953
Executive Vice President & CFO
 
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Forward-Looking Statements
 
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expected use of proceeds from the transactions contemplated by the Arkoma Agreement, the expected timing of the closing of such transactions, the Company’s continued marketing of non-core assets, and potential aggregate proceeds from sales of non-core assets.  These statements are based on certain assumptions made by the Company based on management’s experience and perception of historical trends, current economic and market conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements.
 
Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
 
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