Jones Energy, Inc. announced unaudited consolidated earnings results for third quarter and nine months ended September 30, 2018. For the quarter, the company reported operating revenues were $59,726,000 compared to $44,202,000 a year ago. Operating loss was $6,277,000 compared to $24,407,000 a year ago. Loss before income tax was $53,885,000 compared to $83,455,000 a year ago. Net loss attributable to common shareholders was $35,049,000 or $7.16 per basic and diluted share compared to $66,772,000 or $18.27 per basic and diluted share a year ago. EBITDAX was $20,034,000 compared to $47,070,000 a year ago. Adjusted net loss was $33,492,000 compared to $10,934,000 a year ago. Adjusted net loss attributable to common shareholders was $33,166,000 or $6.77 per adjusted basic and diluted share compared to $9,235,000 or $2.53 per adjusted basic and diluted share a year ago. During the third quarter of 2018, the company spent $43.6 million on capital expenditures, of which $36.4 million, or 84% of total capital expenditures, was related to drilling and completion capital

For the nine months, the company reported operating revenues were $182,470,000 compared to $134,061,000 a year ago. Operating loss was $19,958,000 compared to $210,479,000 a year ago. Loss before income tax was $138,146,000 compared to $223,163,000 a year ago. Net loss attributable to common shareholders was $105,856,000 or $22.48 per basic and diluted share compared to $154,368,000 or $46.07 per basic and diluted share a year ago. Net cash provided by operations was $45,001,000 compared to $41,425,000 a year ago. Acquisition of other property, plant and equipment was $92,000 compared to $603,000 a year ago. EBITDAX was $76,901,000 compared to $148,656,000 a year ago. Additions to oil and gas properties were $153,813,000 compared to $179,152,000 a year ago.

During the third quarter of 2018, the company produced 2.0 MMBoe, or 21,750 Boe/d, which was at the high end of guidance, supported by natural gas and NGL outperformance. Third quarter oil volumes of 5,587 Bbls/d were within Company guidance. Average daily net production for third quarter 2018 was 21.8 MBoe/d, at the high end of guidance. Oil production of 5.6 MBbl/d within the range of guidance.

The company now projects average daily production of 19,400 to 20,400 Boe/d for the fourth quarter of 2018. Total Production to be in the range of 1.8 MMBoe – 1.9 MMBoe. As a result of the anticipated fourth quarter Merge completion activity and increased working interest capital in wells drilled prior to the quarter, expenditures for the fourth quarter of 2018 are anticipated to be between $38 million and $43 million.