Jones Energy, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings and Production Guidance for the First Quarter and Full Year 2016
For the full year, the company announced total operating revenues of $197,399,000 compared to $380,597,000 for the same period a year ago. Operating loss was $106,470,000 compared to income of $108,626,000 for the same period a year ago. Loss before income tax was $11,858,000 compared to income of $251,838,000 for the same period a year ago. Net loss was $9,077,000 compared to income of $225,620,000 for the same period a year ago. Net loss attributable to controlling interests was $2,381,000 or $0.09 per basic and diluted share compared to net income attributable to controlling interests of $41,136,000 or $3.28 per basic and diluted share for the same period a year ago. Net cash provided by operations was $69,030,000 compared to $265,423,000 for the same period a year ago. Additions to oil and gas properties were $311,305,000 compared to $474,619,000 for the same period a year ago. Acquisition of other property, plant and equipment was $1,101,000 compared to $1,683,000 for the same period a year ago. EBITDAX was $268,417,000 compared to $303,014,000 for the same period a year ago. Adjusted net income was $2,220,000 compared to $68,824,000 for the same period a year ago. Adjusted net income attributable to controlling interests was $945,000 compared to $12,616,000 for the same period a year ago. Adjusted earnings per share, basic and diluted was $0.04 compared to $1.01 for the same period a year ago.
The company re-iterated operating and capital expenditure guidance for the first quarter and full year of fiscal 2016. The company projected full-year 2016 average daily production of between 19,300 to 20,300 Boe/d. For the year, total production expected to be between 1.75 MMBoe and 1.85 MMBoe, capital spending is expected to be $25 million for the full-year.
First quarter 2016 production is projected between 15,500 and 17,000 Boe/d. For the year, total production expected to be between 5.6 MMBoe and 6.2 MMBoe.