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BRIEF-Jones Energy Inc exits Arkoma Basin with non-core asset sales
June 22, 2017 / 8:22 PM / 3 months ago

BRIEF-Jones Energy Inc exits Arkoma Basin with non-core asset sales

June 22 (Reuters) - Jones Energy Inc

* Jones energy, Inc. exits Arkoma Basin with non-core asset sales

* Jones Energy Inc says entered agreements to sell several non-core assets, for a combined total of up to $70 million

* Jones Energy - Arkoma agreement represents sale price of $65 million cash, plus up to a $2.5 million contingent payment based on improving natural gas prices

* Jones Energy Inc says company expects to use net proceeds to repay outstanding borrowings under its revolving credit facility

* Jones Energy Inc - “Arkoma represents just 6% of our projected 2017 revenues and we view deal as an accretive transaction to company”

* Jones Energy Inc says “company continues to actively market additional non-core assets” Source text for Eikon: Further company coverage:

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