During the corresponding time, Jones Energy, Inc. saw a revenue deteriorated by -1.15 % year on year, sequentially revenue fell by -9.78 %. While revenue at the Jones Energy, Inc.'s corporate clients
Jones Energy's Comment on Sales, Marketing and Customers
Our oil is generally sold under short-term, extendable and cancellable agreements
with unaffiliated purchasers based on published price bulletins reflecting an
established field posting price. As a consequence, the prices we receive for oil
and liquids move up and down in direct correlation with the oil market as it reacts
to supply and demand factors. We do not own any oil or liquids pipelines or other
assets for the transportation of those commodities, and transportation costs related
to moving oil are deducted from the price received for oil. In September of 2014,
we signed a 10-year oil gathering and transportation agreement with Monarch Oil
Pipeline LLC, pursuant to which Monarch Oil Pipeline LLC built, at its expense,
a new oil gathering system and connected the gathering system to our dedicated
leases in Texas. The system began service during the fourth quarter of 2015 and
provides connectivity to both a regional refinery market as well as the Cushing
market hub. We have reserved capacity of up to 12,000 barrels per day on the system
with the potential to increase throughput at a future date.
Our natural gas is sold under both long-term and short-term natural gas purchase
agreements. Natural gas produced by us is sold at various delivery points at
or near producing wells to natural gas gathering and marketing companies. We
receive proceeds from prices that are based on various pipeline indices less
any associated fees. On virtually all of our natural gas production, we are
paid for the extracted NGLs based on a negotiated percentage of the proceeds
that are generated from the customer’s sale of the liquids, or based on
other negotiated pricing arrangements. We do not own any natural gas pipelines
or other assets for the transportation of natural gas.
Sources:
Jones Energy, Inc.’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Jones Energy, Inc.’s corporate clients.
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