Jones Energy, Inc. announced consolidated earnings and production results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company announced total operating revenues of $39,492,000 compared to $38,234,000 for the same period a year ago. Operating loss was $22,856,000 compared to income of $28,708,000 for the same period a year ago. Loss before income tax was $67,796,000 compared to income before income tax of $3,374,000 for the same period a year ago. Net loss attributable to common shareholders was $30,269,000 or $0.53 per basic and diluted share compared to net income attributable to common shareholders of $636,000 or $0.02 per basic and diluted share for the same period a year ago. EBITDAX was $43,806,000 compared to $65,102,000 for the same period a year ago. Adjusted net loss was $5,316,000 compared to adjusted net income of $582,000 for the same period a year ago. Adjusted net loss attributable to common shareholders was $3,999,000 or $0.07 per basic and diluted share compared to adjusted net income attributable to common shareholders of $873,000 or $0.03 per basic and diluted share for the same period a year ago. During the fourth quarter of 2016, the company spent $52.1 million on non-acquisition capital expenditures, of which $31.2 million was related to drilling and completing operated wells, representing 60% of the total capital expenditures in the quarter. The remaining $20.9 million was primarily related to field maintenance and leasing.

For the full year, the company announced total operating revenues of $127,847,000 compared to $197,399,000 for the same period a year ago. Operating loss was $104,266,000 compared to $106,470,000 for the same period a year ago. Loss before income tax was $108,591,000 compared to $11,858,000 for the same period a year ago. Net loss attributable to common shareholders was $45,221,000 or $1.13 per basic and diluted share compared to $2,381,000 or $0.09 per basic and diluted share for the same period a year ago. Net cash provided by operations was $25,700,000 compared to $68,849,000 for the same period a year ago. Additions to oil and gas properties were $264,462,000 compared to $311,305,000 for the same period a year ago. Acquisition of other property, plant and equipment was $310,000 compared to $1,101,000 for the same period a year ago. EBITDAX was $187,955,000 compared to $268,417,000 for the same period a year ago. Adjusted net loss was $15,528,000 compared to adjusted net income of $2,220,000 for the same period a year ago. Adjusted net loss attributable to common shareholders was $8,336,000 or $0.21 per basic and diluted share compared to adjusted net income attributable to common shareholders of $945,000 or $0.04 per basic and diluted share for the same period a year ago. For the full year 2016, the company spent $105.8 million on capital expenditures, of which $72.2 million was related to drilling and completing operated wells, representing 68% of the total capital expenditures in the year. This compares to revised 2016 capital expenditure guidance of $110 million.

For the quarter, the company reported total net production volumes of 1,770 MBoe compared to 2,169 MBoe a year ago. Average net production volumes of 19,239 Boe/d compared to 23,576 Boe/d a year ago.

For the year, the company reported total net production volumes of 7,029 MBoe compared to 9,174 MBoe a year ago. Average net production volumes of 19,205 Boe/d compared to 25,134 Boe/d a year ago.

For the 2017, the company expects total production of 7.6 MMBoe to 8.4 MMBoe, average daily production of 20.7 MBoe/d to 23.0 MBoe/d, crude oil of 5.7 MBbl/d to 6.3 MBbl/d, natural gas of 51 MMcf/to 57 MMcf/, NGLs of 6.5 MBbl/d to 7.2 MBbl/d.

For the year 2017, the company expects total capital expenditures of $275 million, comprised of $232 million for drilling and completion capital expenditures and the remainder allocated to leasing, workovers and field maintenance projects.