Jones Energy (JONEQ) 10-Q 5 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Entity Registrant Name	Jones Energy, Inc.
Entity Central Index Key	1,573,166
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Class A common stock
Entity Common Stock, Shares Outstanding		65,535,763
Class B common stock
Entity Common Stock, Shares Outstanding		29,823,927

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash	$ 8,708	$ 34,642
Accounts receivable, net
Oil and gas sales	25,787	26,568
Joint interest owners	6,533	5,267
Other	4,218	6,061
Commodity derivative assets	30,101	24,100
Other current assets	7,278	2,684
Total current assets	82,625	99,322
Oil and gas properties, net, at cost under the successful efforts method	1,764,947	1,743,588
Other property, plant and equipment, net	2,920	2,996
Commodity derivative assets	17,767	34,744
Other assets	5,762	6,050
Total assets	1,874,021	1,886,700
Current liabilities
Trade accounts payable	55,757	36,527
Oil and gas sales payable	28,112	28,339
Accrued liabilities	24,948	25,707
Commodity derivative liabilities	8,717	14,650
Other current liabilities	3,223	2,584
Total current liabilities	120,757	107,807
Long-term debt	701,586	724,009
Deferred revenue	6,591	7,049
Commodity derivative liabilities	178	1,209
Asset retirement obligations	20,035	19,458
Liability under tax receivable agreement	41,720	43,045
Other liabilities	949	792
Deferred tax liabilities	2,926	2,905
Total liabilities	894,742	906,274
Commitments and contingencies (Note 14)
Mezzanine equity
Series A preferred stock, $0.001 par value; [0,000,000] shares issued and outstanding at March 31, 2017 and 1,840,000 shares issued and outstanding at December 31, 2016	89,162	88,975
Stockholders' equity
Treasury stock, at cost: 22,602 shares at March 31, 2017 and December 31, 2016	(358)	(358)
Additional paid-in-capital	470,107	447,137
Retained (deficit) / earnings	(30,272)	(8,652)
Stockholders' equity	439,570	438,214
Non-controlling interest	450,547	453,237
Total stockholders' equity	890,117	891,451
Total liabilities and stockholders' equity	1,874,021	1,886,700
Class A common stock
Stockholders' equity
Common stock	63	57
Class B common stock
Stockholders' equity
Common stock	$ 30	$ 30

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Mezzanine equity
Series A preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Series A preferred stock, shares issued	1,840,000	1,840,000
Series A preferred stock, shares outstanding	1,840,000	1,840,000
Treasury stock
Treasury stock, shares	22,602	22,602
Class A common stock
Common stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued	63,395,635	57,048,076
Common stock, shares outstanding	63,373,033	57,025,474
Class B common stock
Common stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued	29,832,098	29,832,098
Common stock, shares outstanding	29,832,098	29,832,098

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Operating revenues
Oil and gas sales		$ 40,677	$ 25,080
Other revenues		556	778
Total operating revenues		41,233	25,858
Operating costs and expenses
Lease operating		8,806	8,617
Production and ad valorem taxes		(906)	1,601
Exploration		2,944	162
Depletion, depreciation and amortization		35,654	41,762
Impairment of oil and gas properties		0	0
Accretion of ARO liability		201	293
General and administrative		8,041	7,504
Total operating expenses		54,740	59,939
Operating income (loss)		(13,507)	(34,081)
Other income (expense)
Interest expense		(12,887)	(14,798)
Gain on debt extinguishment			90,652
Net gain (loss) on commodity derivatives		22,320	17,219
Other income (expense)		580	225
Other income (expense), net		10,013	93,298
Income (loss) before income tax		(3,494)	59,217
Income tax provision (benefit)
Total income tax provision (benefit)		21	10,703
Net income (loss)		(3,515)	48,514
Net income (loss) attributable to non-controlling interests		(2,128)	29,603
Net income (loss) attributable to controlling interests		(1,387)	18,911
Dividends and accretion on preferred stock		(2,027)
Net income (loss) attributable to common shareholders		$ (3,414)	$ 18,911
Earnings (loss) per share:
Basic - Net income (loss) attributable to common shareholders	[1]	$ (0.05)	$ 0.57
Diluted - Net income (loss) attributable to common shareholders	[1]	$ (0.05)	$ 0.57
Weighted average Class A shares outstanding:
Basic (in shares)	[1]	62,197,000	33,222,000
Diluted (in shares)	[1]	62,197,000	33,222,000
Class A common stock
Weighted average Class A shares outstanding:
Special stock dividend declared per share (in shares)		0.087423
[1]	All share and earnings per share information presented has been recast to retrospectively adjust for the effects of the 0.087423 per share Special Stock Dividend, as defined in Note 11, “Stockholders’ and Mezzanine equity”, distributed on March 31, 2017.

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity - 3 months ended Mar. 31, 2017 - USD ($) shares in Thousands, $ in Thousands	Common StockClass A common stock	Common StockClass B common stock	Treasury StockClass A common stock	Additional Paid-in-Capital	Retained (Deficit)/ Earnings	Non-controlling Interest	Class A common stock	Total
Balance at Dec. 31, 2016	$ 57	$ 30	$ (358)	$ 447,137	$ (8,652)	$ 453,237		$ 891,451
Balance (in shares) at Dec. 31, 2016	57,025	29,832	23
Increase (Decrease) Stockholders' Equity
Cumulative effect of adoption of ASU 2016-09				706	(706)
Stock-compensation expense				1,941				1,941
Stock-compensation expense (in shares)	168
Cash tax distribution						(562)		(562)
Sale of common stock	$ 1			2,828				2,829
Sale of common stock (in shares)	1,180						1,200
Stock dividends on common stock	$ 5			17,495	(17,500)
Stock dividends on common stock (in shares)	5,000
Dividends and accretion on preferred stock					(2,027)			(2,027)
Net income (loss)					(1,387)	(2,128)		(3,515)
Balance at Mar. 31, 2017	$ 63	$ 30	$ (358)	$ 470,107	$ (30,272)	$ 450,547		$ 890,117
Balance (in shares) at Mar. 31, 2017	63,373	29,832	23

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income (loss)	$ (3,515)	$ 48,514
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depletion, depreciation, and amortization	35,654	41,762
Exploration (dry hole and lease abandonment)	1,643	27
Accretion of ARO liability	201	293
Amortization of debt issuance costs	977	1,129
Stock compensation expense	1,972	1,185
Deferred and other non-cash compensation expense	136	268
Amortization of deferred revenue	(458)	(645)
(Gain) loss on commodity derivatives	(22,320)	(17,219)
(Gain) loss on sales of assets	64	4
(Gain) on debt extinguishment		(90,652)
Deferred income tax provision	21	10,564
Other - net	(627)	(963)
Changes in operating assets and liabilities
Accounts receivable	(220)	10,655
Other assets	(4,912)	(1,730)
Accrued interest expense	3,348	(384)
Accounts payable and accrued liabilities	1,619	(7,634)
Net cash provided by operations	13,583	(4,826)
Cash flows from investing activities
Additions to oil and gas properties	(47,110)	(7,176)
Net adjustments to purchase price of properties acquired	2,391
Proceeds from sales of assets	144	3
Current period settlements of matured derivative contracts	27,854	42,298
Net cash (used in) investing	(16,913)	35,165
Cash flows from financing activities
Proceeds from issuance of long-term debt	30,000	75,000
Repayment of long-term debt	(53,000)
Purchase of senior notes		(73,427)
Payment of dividends on preferred stock	(1,840)
Net distributions paid to JEH unitholders	(562)
Net payments for share based compensation	(31)
Proceeds from sale of common stock	2,829
Net cash provided by financing	(22,604)	1,573
Net increase (decrease) in cash	(25,934)	31,912
Cash
Beginning of period	34,642	21,893
End of period	8,708	53,805
Supplemental disclosure of cash flow information
Cash paid for interest	8,559	14,053
Change in accrued additions to oil and gas properties	13,294	(686)
Asset retirement obligations incurred, including changes in estimate	$ 413	$ 50

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Organization and Description of Business	Jones Energy, Inc. Notes to the Consolidated Financial Statement 1. Organization and Description of Business Organization Jones Energy, Inc. (the “Company”) was formed in March 2013 as a Delaware corporation to become a publicly-traded entity and the holding company of Jones Energy Holdings, LLC (“JEH”). As the sole managing member of JEH, the Company is responsible for all operational, management and administrative decisions relating to JEH’s business and consolidates the financial results of JEH and its subsidiaries. JEH was formed as a Delaware limited liability company on December 16, 2009 through investments made by the Jones family, certain members of management and through private equity funds managed by Metalmark Capital, among others. JEH acts as a holding company of operating subsidiaries that own and operate assets that are used in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s certificate of incorporation authorizes two classes of common stock, Class A common stock and Class B common stock. The Class B common stock is held by the remaining owners of JEH prior to the initial public offering (“IPO”) of the Company (collectively, the “Class B shareholders”) and can be exchanged (together with a corresponding number of common units representing membership interests in JEH (“JEH Units”)) for shares of Class A common stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications and other similar transactions. The Class B common stock has no economic rights but entitles its holders to one vote on all matters to be voted on by the Company’s stockholders generally. As of March 31, 2017, the Company held 63,373,033 JEH Units and all of the preferred units representing membership interests in JEH, and the remaining 29,832,098 JEH Units are held by the Class B shareholders. The Class B shareholders have no voting rights with respect to their economic interest in JEH, resulting in the Company reporting this ownership interest as a non-controlling interest. The Company’s certificate of incorporation also authorizes the Board of Directors of the Company to establish one or more series of preferred stock. Unless required by law or by any stock exchange on which our common stock is listed, the authorized shares of preferred stock will be available for issuance without further action. Rights and privileges associated with shares of preferred stock are subject to authorization by the Board of Directors of the Company and may differ from those of any and all other series at any time outstanding. On August 25, 2016, the Company issued 1,840,000 shares of its 8.0% Series A Perpetual Convertible Preferred Stock, par value $0.001 per share (the “Series A preferred stock”), pursuant to a registered public offering at $50 per share. See Note 11, “Stockholders’ and Mezzanine equity”. Description of Business The Company is engaged in the exploration, development, production and acquisition of oil and natural gas properties in the mid-continent United States, spanning areas of Texas and Oklahoma. The Company’s assets are located within the Anadarko and Arkoma basins, and are owned by JEH and its operating subsidiaries. The Company is headquartered in Austin, Texas.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Significant Accounting Policies	2. Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission. All significant intercompany transactions and balances have been eliminated in consolidation. The Company’s financial position as of December 31, 2016 and the financial statements reported for March 31, 2017 and 2016 and each of the three month periods then ended include the Company and all of its subsidiaries. Certain prior period amounts have been reclassified to conform to the current presentation. The accompanying unaudited condensed consolidated financial statements for the periods ending March 31, 2017 and 2016 have been prepared in accordance with GAAP for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission. Certain information relating to the Company’s organization and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been appropriately condensed or omitted in this Quarterly Report. The Company believes the disclosures made are adequate to make the information presented not misleading. The unaudited condensed consolidated financial statements contained in this report include all normal and recurring material adjustments that, in the opinion of management, are necessary for a fair statement of the financial position, results of operations and cash flows for the interim periods presented herein. It is recommended that these unaudited condensed consolidated financial statements should be read in conjunction with our most recent audited consolidated financial statements included in Jones Energy, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2016. Use of Estimates There have been no significant changes in our use of estimates since those reported in Jones Energy, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2016. Production taxes During the first quarter of 2017, the Company's application for High-Cost Gas Incentive refunds in Texas was approved for qualified wells on which taxes were initially paid between October 2012 and September 2016. The Company received a net production tax refund of $3.3 million, which was recorded as a reduction in Production and ad valorem taxes on the Company’s Consolidated Statement of Operations. Recent Accounting Pronouncements Adopted in the current year-to-date period: In March 2016, the FASB issued ASU 2016-09, “Compensation—Stock Compensation” (Topic 718). This amendment is intended to simplify the accounting for share-based payment awards to employees, specifically in regard to (1) the income tax consequences, (2) classification of awards as either equity or liabilities, and (3) classification on the statement of cash flows. The amendments are effective for interim and annual reporting periods beginning after December 15, 2016. Therefore, the Company has adopted ASU 2016-09 effective as of January 1, 2017. Upon adoption of ASU 2016-09, the Company elected to change its accounting policy to account for forfeitures as they occur. The change was applied on a modified retrospective basis with a cumulative effect adjustment to retained earnings for forfeitures of $0.7 million as of January 1, 2017. As a result of the valuation allowance against the Company’s deferred tax assets, there was no net adjustment to retained earnings for the change in accounting for unrecognized windfall tax benefits. To be adopted in a future period: In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which creates a new topic in the Accounting Standards Codification (“ASC”), topic 606, “Revenue from Contracts with Customers.” This ASU sets forth a five-step model for determining when and how revenue is recognized. Under the model, an entity will be required to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. Additional disclosures will be required to describe the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. In August 2015, the FASB issued ASU 2015-14, which deferred the effective date of ASU 2014-09 by one year. The amendments are now effective for interim and annual reporting periods beginning after December 15, 2017 and may be applied on either a full or modified retrospective basis. Early adoption is permitted. The Company is in the early stages of evaluating the effect that the adoption of Update 2014-09 and Update 2015-14 will have on our financial statements. At this time, we are performing a review on a sample of revenue contracts to determine the impact of adoption. The Company will continue to further evaluate the effect that the adoption of Update 2014-09 and Update 2015-14 will have on our financial statements. We anticipate adoption of Update 2014-09 and Update 2015-14 effective as of January 1, 2018. In February 2016, the FASB issued ASU 2016-02, “Leases” (Topic 842). This amendment requires, among other things, that lessees recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The amendments are effective for interim and annual reporting periods beginning after December 15, 2018. The Company is currently evaluating the impacts of the amendments to our financial statements and accounting practices for leases. We anticipate adoption of ASU 2016-02 effective as of January 1, 2019.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Acquisitions	3. Acquisitions During the year ended December 31, 2016, the Company entered into several purchase and sale agreements (as described below). No acquisitions occurred during the three months ended March 31, 2017. Merge Acquisition On September 22, 2016, JEH acquired oil and gas properties located in the Merge area of the STACK/SCOOP (the “Merge”) play in Central Oklahoma (the “Merge Acquisition”) from SCOOP Energy Company, LLC for cash consideration of $134.4 million, net of the final working capital settlement of $2.4 million received in the first quarter of 2017. The oil and gas properties acquired in the Merge Acquisition principally consist of approximately 18,000 undeveloped net acres in Canadian, Grady and McClain Counties, Oklahoma. This transaction has been accounted for as an asset acquisition. The Company used proceeds from our equity offerings to fund a portion of the purchase. See Note 11, “Stockholders’ and Mezzanine equity”. Anadarko Acquisition On August 25, 2016, JEH acquired producing and undeveloped oil and gas assets in the Western Anadarko basin (the “Anadarko Acquisition”) for final consideration of $25.9 million. This transaction was accounted for as a business combination. The Company allocated $32.3 million to “Oil and gas properties,” with $3.0 million allocated to “Unproved” properties, $17.0 million allocated to “Proved” properties, and $12.3 million allocated to “Wells and equipment and related facilities”, based on the respective fair values of the assets acquired. Additionally, the Company allocated $6.4 million to our ARO liability associated with those proved properties. As of March 31, 2017, the measurement-period remains open. The Anadarko Acquisition did not result in a significant impact to revenues or net income and as such, pro forma financial information is not included. The Company funded the Anadarko Acquisition with cash on hand. The assets acquired in the Anadarko Acquisition included interests in 174 wells, 59% of which were operated by the company, and approximately 25,000 net acres in Lipscomb and Ochiltree Counties in the Texas Panhandle. As of the closing date, the acquired acreage was producing approximately 900 barrels of oil equivalent per day.

Properties, Plant and Equipment

Properties, Plant and Equipment	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Properties, Plant and Equipment	4. Properties, Plant and Equipment Oil and Gas Properties The Company accounts for its oil and natural gas exploration and production activities under the successful efforts method of accounting. Oil and gas properties consisted of the following at March 31, 2017 and December 31, 2016: March 31, December 31, (in thousands of dollars) 2017 2016 Mineral interests in properties Unproved $ 208,913 $ 213,153 Proved 1,071,654 1,054,683 Wells and equipment and related facilities 1,440,949 1,395,291 2,721,516 2,663,127 Less: Accumulated depletion and impairment (956,569) (919,539) Net oil and gas properties $ 1,764,947 $ 1,743,588 There were no exploratory wells drilled during the three months ended March 31, 2017 or 2016. As such, no associated costs were capitalized and no exploratory wells resulted in exploration expense during either period. The Company did not capitalize any interest during the three months ended March 31, 2017 or 2016 as no projects lasted more than six months. Costs incurred to maintain wells and related equipment are charged to expense as incurred. Depletion of oil and gas properties amounted to $35.4 million and $41.5 million for the three months ended March 31, 2017 and 2016, respectively. The Company continues to monitor its proved and unproved properties for impairment. No impairments of proved or unproved properties were recorded during the three months ended March 31, 2017 or 2016. Other Property, Plant and Equipment Other property, plant and equipment consisted of the following at March 31, 2017 and December 31, 2016: March 31, December 31, (in thousands of dollars) 2017 2016 Leasehold improvements $ 1,213 $ 1,213 Furniture, fixtures, computers and software 4,361 4,170 Vehicles 1,677 1,677 Aircraft 910 910 Other 284 284 8,445 8,254 Less: Accumulated depreciation and amortization (5,525) (5,258) Net other property, plant and equipment $ 2,920 $ 2,996 Depreciation and amortization of other property, plant and equipment amounted to $0.3 million for each of the three months ended March 31, 2017 and 2016, respectively.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Long-Term Debt	5. Long-Term Debt Long-term debt consisted of the following at March 31, 2017 and December 31, 2016: (in thousands of dollars) March 31, 2017 December 31, 2016 Revolver $ 155,000 $ 178,000 2022 Notes 409,148 409,148 2023 Notes 150,000 150,000 Total principal amount 714,148 737,148 Less: unamortized discount (5,987) (6,240) Less: debt issuance costs, net (6,575) (6,899) Total carrying amount $ 701,586 $ 724,009 Senior Unsecured Notes On April 1, 2014, JEH and Jones Energy Finance Corp., JEH’s wholly owned subsidiary formed for the sole purpose of co-issuing certain of JEH’s debt (collectively, the “Issuers”), sold $500.0 million in aggregate principal amount of the Issuers’ 6.75% senior notes due 2022 (the “2022 Notes”). The Company used the net proceeds from the issuance of the 2022 Notes to repay all outstanding borrowings under the Term Loan (as defined below) ($160.0 million), a portion of the outstanding borrowings under the Revolver (as defined below) ($308.0 million) and for working capital and general corporate purposes. The Company subsequently terminated the Term Loan in accordance with its terms. The 2022 Notes bear interest at a rate of 6.75% per year, payable semi-annually on April 1 and October 1 of each year beginning October 1, 2014. The 2022 Notes were registered in March 2015. On February 23, 2015, the Issuers sold $250.0 million in aggregate principal amount of 9.25% senior notes due 2023 (the “2023 Notes”) in a private placement to affiliates of GSO Capital Partners LP and Magnetar Capital LLC. The 2023 Notes were issued at a discounted price equal to 94.59% of the principal amount. The Company used the $236.5 million net proceeds from the issuance of the 2023 Notes to repay outstanding borrowings under the Revolver and for working capital and general corporate purposes. The 2023 Notes bear interest at a rate of 9.25% per year, payable semi-annually on March 15 and September 15 of each year beginning September 15, 2015. The 2023 Notes were registered in February 2016. During 2016, the Company purchased an aggregate principal amount of $190.9 million of its senior unsecured notes through several open market and privately negotiated purchases. The Company purchased $90.9 million principal amount of its 2022 Notes for $38.1 million, and $100.0 million principal amount of its 2023 Notes for $46.5 million, in each case excluding accrued interest and including any associated fees. The Company used cash on hand and borrowings from its Revolver to fund the note purchases. In conjunction with the extinguishment of this debt, JEH recognized cancellation of debt income of $99.5 million for the twelve months ended December 31, 2016, on a pre-tax basis. This income is recorded in Gain on debt extinguishment on the Company’s Consolidated Statement of Operations. Of the Company’s total repurchases, $20.3 million principal amount of its 2022 Notes were not cancelled and are available for future reissuance, subject to applicable securities laws. The 2022 Notes and 2023 Notes are guaranteed on a senior unsecured basis by the Company and by all of its significant subsidiaries. The 2022 Notes and 2023 Notes will be senior in right of payment to any future subordinated indebtedness of the Issuers. The Company may redeem the 2022 Notes at any time on or after April 1, 2017 and the 2023 Notes at any time on or after March 15, 2018 at a declining redemption price set forth in the respective indentures, plus accrued and unpaid interest. The indentures governing the 2022 Notes and 2023 Notes are substantially identical and contain covenants that, among other things, limit the ability of the Company to incur additional indebtedness or issue certain preferred stock, pay dividends on capital stock, transfer or sell assets, make investments, create certain liens, enter into agreements that restrict dividends or other payments from the Company’s restricted subsidiaries to the Company, consolidate, merge or transfer all of the Company’s assets, engage in transactions with affiliates or create unrestricted subsidiaries. If at any time when the 2022 Notes or 2023 Notes are rated investment grade and no default or event of default (as defined in the indenture) has occurred and is continuing, many of the foregoing covenants pertaining to the 2022 Notes or 2023 Notes, as applicable, will be suspended. If the ratings on the 2022 Notes or 2023 Notes, as applicable, were to decline subsequently to below investment grade, the suspended covenants would be reinstated. As of March 31, 2017, the Company was in compliance with the indentures governing the 2022 Notes and 2023 Notes. Other Long-Term Debt The Company entered into two credit agreements dated December 31, 2009, with Wells Fargo Bank N.A, the Senior Secured Revolving Credit Facility (the “Revolver”) and the Second Lien Term Loan (the “Term Loan”). On April 1, 2014, the Term Loan was repaid in full and terminated in connection with the issuance of the 2022 Notes. On November 6, 2014, the Company amended the Revolver to, among other things, extend the maturity date of the Revolver to November 6, 2019. The Company’s oil and gas properties are pledged as collateral to secure its obligations under the Revolver. On August 1, 2016, the Company entered into an amendment to the Revolver to, among other things (i) require that the Company's deposit accounts and securities accounts (subject to certain exclusions) become subject to control agreements, (ii) restrict the Company from borrowing or receiving Letters of Credit under the Revolver if the Company has, or, after giving effect to such borrowing or issuance of Letter of Credit, will have, a Consolidated Cash Balance (as defined in the Revolver) in excess of $30.0 million (in each case giving effect to the anticipated use of proceeds thereof) and (iii) set the borrowing base under the Revolver at $425.0 million. The borrowing base was reaffirmed at this level during the semi-annual borrowing base re-determination effective October 24, 2016. The terms of the Revolver require the Company to make periodic payments of interest on the loans outstanding thereunder, with all outstanding principal and interest under the Revolver due on the maturity date. The Revolver is subject to a borrowing base, which limits the amount of borrowings which may be drawn thereunder. The borrowing base will be re-determined by the lenders at least semi-annually on or about April 1 and October 1 of each year, with such re-determination based primarily on reserve reports using lender commodity price expectations at such time. Any reduction in the borrowing base will reduce our liquidity, and, if the reduction results in the outstanding amount under our revolving credit facility exceeding the borrowing base, we will be required to repay the deficiency within a short period of time. Interest on the Revolver is calculated, at the Company’s option, at either (a) the London Interbank Offered (“LIBO”) rate for the applicable interest period plus a margin of 1.50% to 2.50% based on the level of borrowing base utilization at such time or (b) the greatest of the federal funds rate plus 0.50%, the one month adjusted LIBO rate plus 1.00%, or the prime rate announced by Wells Fargo Bank, N.A. in effect on such day, in each case plus a margin of 0.50% to 1.50% based on the level of borrowing base utilization at such time. For the three months ended March 31, 2017, the average interest rate under the Revolver was 2.59% on an average outstanding balance of $195.2 million. For the three months ended March 31, 2016, the average interest rate under the Revolver was 2.67% on an average outstanding balance of $143.1 million. Total interest and commitment fees under the Revolver were $1.5 million and $1.3 million for the three months ended March 31, 2017 and 2016, respectively. Jones Energy, Inc. and its consolidated subsidiaries are subject to certain covenants under the Revolver, including the requirement to maintain the following financial ratios: · a total leverage ratio, consisting of consolidated debt to EBITDAX, of not greater than 4.0 to 1.00x as of the last day of any fiscal quarter; and · a current ratio, consisting of consolidated current assets, including the unused amounts of the total commitments, to consolidated current liabilities, of not less than 1.00 to 1.00x as of the last day of any fiscal quarter. As of March 31, 2017, our total leverage ratio is approximately 3.73x and our current ratio is approximately 2.88x, as calculated based on the requirements in our covenants. We are in compliance with all terms of our Revolver at March 31, 2017, and we expect to maintain compliance throughout the next twelve month period. However, factors including those outside of our control, such as commodity price declines, may prevent us from maintaining compliance with these covenants, at future measurement dates in 2017 and beyond. In the event it were to become necessary, we believe we have the ability to take actions that would prevent us from failing to comply with our covenants, such as hedge restructuring or seeking a waiver of such covenants. If an event of default exists under the Revolver, the lenders will be able to accelerate the obligations outstanding under the Revolver and exercise other rights and remedies. Our Revolver contains customary events of default, including the occurrence of a change of control, as defined in the Revolver.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Derivative Instruments and Hedging Activities	6. Derivative Instruments and Hedging Activities The Company uses derivative instruments to mitigate volatility in commodity prices. While the use of these instruments limits the downside risk of adverse price changes, their use may also limit future revenues from favorable price changes. Depending on changes in oil and gas futures markets and management’s view of underlying supply and demand trends, we may increase or decrease our hedging positions. The following tables summarize our hedging positions as of March 31, 2017: Hedging Positions March 31, 2017 Weighted Final Low High Average Expiration Oil swaps Exercise price $ 44.60 $ 86.85 $ 57.85 December 2020 Offset exercise price $ 42.00 $ 47.65 $ 46.28 Net barrels per month 20,000 181,000 81,978 Natural gas swaps Exercise price $ 2.78 $ 4.67 $ 3.34 December 2020 Offset exercise price $ 2.80 $ 2.92 $ 2.81 Net mmbtu per month 300,000 1,890,000 1,108,000 Natural gas liquids swaps Exercise price $ 18.06 $ 72.52 $ 27.95 October 2018 Barrels per month 115,000 145,000 130,952 Oil collars Puts (floors) $ 45.00 $ 50.00 $ 48.52 September 2019 Calls (ceilings) $ 56.60 $ 61.00 $ 59.64 Net barrels per month 65,000 73,000 67,500 Natural gas collars Puts (floors) $ 2.55 $ 2.55 $ 2.55 December 2019 Calls (ceilings) $ 3.08 $ 3.41 $ 3.19 Net barrels per month 950,000 1,050,000 990,833 The Company recognized a net gain on derivative instruments of $22.3 million and a net gain on derivative instruments of $17.2 million for the three months ended March 31, 2017 and 2016, respectively. The Company routinely enters into oil and natural gas swap contracts as seller, thus resulting in a fixed price. During 2017, the Company realized certain mark-to-market gains associated with oil and natural gas hedges the Company had in place for years 2018 and 2019. The gains were effectively realized by purchasing, as opposed to selling, oil and natural gas swap contracts for the equal volume that was associated with the initial hedge transaction. Therefore, as prices fluctuate, the loss (or gain) on any single contract in 2018 and 2019 will be offset by an equal gain (or loss). This essentially leaves the underlying production open to fluctuations in market prices. Based on current contract terms, the gains will be recognized as the hedge contracts mature in 2018 and 2019. Information related to these purchased oil and natural gas swap contracts is presented in the table above as the “offset exercise price”, and the volumes in the table above are presented “net” of such purchased oil and natural gas swap contracts. Offsetting Assets and Liabilities As of March 31, 2017, the counterparties to our commodity derivative contracts consisted of six financial institutions. All of our counterparties or their affiliates are also lenders under the Revolver. We are not generally required to post additional collateral under our derivative agreements. Our derivative agreements contain set-off provisions that state that in the event of default or early termination, any obligation owed by the defaulting party may be offset against any obligation owed to the defaulting party. The following table presents information about our commodity derivative contracts that are netted on our Consolidated Balance Sheet as of March 31, 2017 and December 31, 2016: Net Amounts Gross of Assets / Gross Amounts Gross Amounts Amounts Liabilities Not of Recognized Offset in the Presented in Offset in the Assets / Balance the Balance Balance (in thousands of dollars) Liabilities Sheet Sheet Sheet Net Amount March 31, 2017 Commodity derivative contracts Assets $ 65,102 $ (17,234) $ 47,868 $ — $ 47,868 Liabilities (26,129) 17,234 (8,895) — (8,895) December 31, 2016 Commodity derivative contracts Assets $ 79,649 $ (20,805) $ 58,844 $ — $ 58,844 Liabilities (36,664) 20,805 (15,859) — (15,859)

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Fair Value Measurement	7. Fair Value Measurement Fair Value of Financial Instruments The Company determines fair value amounts using available market information and appropriate valuation methodologies. Fair value is the price that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. Considerable judgment is required in interpreting market data to develop the estimates of fair value. The use of different market assumptions and/or estimation methods may have a material effect on the estimated fair value amounts. The Company enters into a variety of derivative financial instruments, which may include over-the-counter instruments, such as natural gas, crude oil, and natural gas liquid contracts. The Company utilizes valuation techniques that maximize the use of observable inputs, where available. If listed market prices or quotes are not published, fair value is determined based upon a market quote, adjusted by other market-based or independently sourced market data, such as trading volume, historical commodity volatility, and counterparty-specific considerations. These adjustments may include amounts to reflect counterparty credit quality, the time value of money, and the liquidity of the market. Counterparty credit valuation adjustments are necessary when the market price of an instrument is not indicative of the fair value as a result of the credit quality of the counterparty. Generally, market quotes assume that all counterparties have low default rates and equal credit quality. Therefore, an adjustment may be necessary to reflect the quality of a specific counterparty to determine the fair value of the instrument. The Company currently has all derivative positions placed and held by members of its lending group, which have high credit quality. Liquidity valuation adjustments are necessary when the Company is not able to observe a recent market price for financial instruments that trade in less active markets. Exchange traded contracts are valued at market value without making any additional valuation adjustments; therefore, no liquidity reserve is applied. Valuation Hierarchy Fair value measurements are grouped into a three-level valuation hierarchy. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the hierarchy is based upon the input that requires the highest degree of judgment in the determination of the instrument’s fair value. The three levels are defined as follows: Level 1 Pricing inputs are based on published prices in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, as of the reporting date. Contracts that are not traded on a recognized exchange or are tied to pricing transactions for which forward curve pricing is readily available are classified as Level 2 instruments. These include natural gas, crude oil and some natural gas liquids price swaps and natural gas basis swaps. Level 3 Pricing inputs include significant inputs that are generally unobservable from objective sources. The Company classifies natural gas liquid swaps and basis swaps for which future pricing is not readily available as Level 3. The Company obtains estimates from independent third parties for its open positions and subjects those to the credit adjustment criteria described above. The financial instruments carried at fair value as of March 31, 2017 and December 31, 2016, by consolidated balance sheet caption and by valuation hierarchy, as described above are as follows: (in thousands of dollars) March 31, 2017 Fair Value Measurements Using Commodity Price Hedges (Level 1) (Level 2) (Level 3) Total Current assets $ — $ 30,101 $ — $ 30,101 Long-term assets — 16,547 1,220 17,767 Current liabilities — 8,026 691 8,717 Long-term liabilities — 108 70 178 (in thousands of dollars) December 31, 2016 Fair Value Measurements Using Commodity Price Hedges (Level 1) (Level 2) (Level 3) Total Current assets $ — $ 24,100 $ — $ 24,100 Long-term assets (1) — 36,384 (1,640) 34,744 Current liabilities — 13,636 1,014 14,650 Long-term liabilities — 892 317 1,209 (1) Level 3 long-term assets are negative as a result of the netting of our commodity derivative reflected on our Consolidated Balance Sheet as of December 31, 2016. Our agreements include set-off provisions, as noted in Note 6, “Derivative Instruments and Hedging Activities - Offsetting Assets and Liabilities”. The following table represents quantitative information about Level 3 inputs used in the fair value measurement of the Company’s commodity derivative contracts as of March 31, 2017: Quantitative Information About Level 3 Fair Value Measurements Fair Value Unobservable Commodity Price Hedges (000’s) Valuation Technique Input Range Natural gas liquid swaps $ (761) Use a discounted cash flow approach using inputs including forward price statements from counterparties Natural gas liquid futures $22.89 - $23.94 per barrel Crude oil collars $ 1,633 Use a discounted option model approach using inputs including interpolated volatilities for certain settlement months where market volatility quotes were unavailable for the option strike price Market volatility quotes at the option strike for certain settlement months in 2019 $45.00 - $61.00 per barrel Natural gas collars $ (413) Use a discounted option model approach using inputs including interpolated volatilities for certain settlement months where market volatility quotes were unavailable for the option strike price Market volatility quotes at the option strike for certain settlement months in 2019 $2.55 - $3.41 per barrel Significant increases/decreases in natural gas liquid prices in isolation would result in a significantly lower/higher fair value measurement. The following table presents the changes in the Level 3 financial instruments for the three months ended March 31, 2017. Changes in fair value of Level 3 instruments represent changes in gains and losses for the periods that are reported in other income (expense). New contracts entered into during the year are generally entered into at no cost with changes in fair value from the date of agreement representing the entire fair value of the instrument. Transfers between levels are evaluated at the end of the reporting period. The following table summarizes the Company’s commodity derivative contract activity during the three months ended March 31, 2017: (in thousands of dollars) Balance at December 31, 2016, net $ (2,971) Purchases (146) Settlements (469) Transfers to Level 2 — Transfers to Level 3 — Changes in fair value 4,045 Balance at March 31, 2017, net $ 459 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The following table provides the fair value of financial instruments that are not recorded at fair value in the consolidated financial statements: March 31, 2017 December 31, 2016 Principal Principal (in thousands of dollars) Amount Fair Value Amount Fair Value Debt: Revolver $ 155,000 $ 155,000 $ 178,000 $ 178,000 2022 Notes 409,148 344,564 409,148 393,150 2023 Notes 150,000 143,157 150,000 153,375 The Revolver (as defined in Note 5) is categorized as Level 3 in the valuation hierarchy as the debt is not publicly traded and no observable market exists to determine the fair value; however, the carrying value of the Revolver approximates fair value, as it is subject to short-term floating interest rates that approximate the rates available to the Company for those periods. The fair value of the 2022 Notes (as defined in Note 5) is based on pricing that is readily available in the public market. Accordingly, the 2022 Notes are classified as Level 1 in the valuation hierarchy as the pricing is based on quoted market prices for the debt securities and is actively traded. The fair value of the 2023 Notes (as defined in Note 5) is based on indicative pricing that is available in the public market. Accordingly, the 2023 Notes are classified as Level 2 in the valuation hierarchy as the pricing is based on quoted market prices for the debt securities but is not actively traded.

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Asset Retirement Obligations	8. Asset Retirement Obligations A summary of the Company’s Asset Retirement Obligations (“ARO”) for the three months ended March 31, 2017 is as follows: (in thousands of dollars) Balance at December 31, 2016 $ 20,058 Liabilities incurred 413 Accretion of ARO liability 201 Liabilities settled due to plugging and abandonment (37) Total ARO balance at March 31, 2017 20,635 Less: Current portion of ARO (600) Total long-term ARO at March 31, 2017 $ 20,035

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Stock-based Compensation	9. Stock-based Compensation Management Unit Awards Effective January 1, 2010, JEH implemented a management incentive plan that provided indirect awards of membership interests in JEH to members of senior management (“Management Units”). These awards had various vesting schedules, and a portion of the Management Units vested in a lump sum at the IPO date. In connection with the IPO, both the vested and unvested Management Units were converted into the right to receive JEH Units and shares of Class B common stock. The JEH Units (together with a corresponding number of shares of Class B common stock) will become exchangeable under this plan into a like number of shares of Class A common stock upon vesting or forfeiture. No new Management Units have been awarded since the IPO and no new JEH Units or shares of Class B common stock are created upon a vesting event. Grants listed below reflect the transfer of JEH Units that occurred upon forfeiture. The following table summarizes information related to the vesting of Management Units as of March 31, 2017: Weighted Average Grant Date Fair Value JEH Units per Share Unvested at December 31, 2016 90,762 $ 15.00 Granted — 15.00 Forfeited — 15.00 Vested — 15.00 Unvested at March 31, 2017 90,762 $ 15.00 Stock compensation expense associated with the Management Units was $0.2 million and $0.5 million for the three months ended March 31, 2017 and 2016, respectively, and is included in general and administrative expenses on the Company’s Consolidated Statement of Operations. 2013 Omnibus Incentive Plan Under the Amended and Restated Jones Energy, Inc. 2013 Omnibus Incentive Plan (the “LTIP”), established in conjunction with the Company’s IPO and restated on May 4, 2016 following approval by the Company’s stockholders, the Company has reserved a total of 7,992,559 shares of Class A common stock for non-employee director, consultant, and employee stock-based compensation awards. The Company granted (i) performance share unit and restricted stock unit awards to certain officers and employees and (ii) restricted shares of Class A common stock to the Company’s non-employee directors under the LTIP during 2014, 2015, 2016 and 2017. During 2016, the Company also granted performance unit awards to certain members of the senior management team under the LTIP. All share and earnings per share information presented for awards made under the LTIP has been recast to retrospectively adjust for the effects of the 0.087423 per share Special Stock Dividend, as defined in Note 11, “Stockholders’ and Mezzanine equity”, distributed on March 31, 2017. Restricted Stock Unit Awards The Company has outstanding restricted stock unit awards granted to certain officers and employees of the Company under the LTIP. The fair value of the restricted stock unit awards is based on the value of the Company’s Class A common stock on the date of grant and is expensed on a straight-line basis over the applicable vesting period, which is typically three years. The following table summarizes information related to the total number of units awarded to officers and employees as of March 31, 2017: Restricted Weighted Average Stock Unit Grant Date Fair Value Awards per Share Unvested at December 31, 2016 1,359,142 $ 5.60 Granted 33,052 4.60 Forfeited (7,129) 4.60 Vested — — Unvested at March 31, 2017 1,385,065 $ 5.58 Stock compensation expense associated with the employee restricted stock unit awards was $1.1 million and $0.1 million for the three months ended March 31, 2017 and 2016, respectively, and is included in general and administrative expenses on the Company’s Consolidated Statement of Operations. Performance Share Unit Awards The Company has outstanding performance share unit awards granted to certain members of the senior management team of the Company under the LTIP. Prior to the second quarter of 2016, the performance share unit awards were described in the Company’s filings as performance unit awards. During the second quarter of 2016, the Company created a new class of equity award, described below as a performance unit award, that is settled in cash rather than shares of the Company’s Class A common stock. As a result, references to performance unit awards in the Company’s filings prior to the second quarter of 2016 refer to this description of performance share unit awards. Upon the completion of the applicable three-year performance period, each recipient may vest in a number of performance share units. The percent of awarded performance share units in which each recipient vests at such time, if any, will range from 0% to 200% based on the Company’s total shareholder return relative to an industry peer group over the applicable three-year performance period. Each vested performance share unit is exchangeable for one share of the Company’s Class A common stock. The grant date fair value of the performance share units was determined using a Monte Carlo simulation model, which results in an estimated percentage of performance share units earned. The fair value of the performance share units is expensed on a straight-line basis over the applicable three-year performance period. The following table summarizes information related to the total number of performance share units awarded to the senior management team as of March 31, 2017: Performance Weighted Average Share Unit Grant Date Fair Value Awards per Share Unvested at December 31, 2016 942,073 $ 6.25 Granted — — Forfeited — — Vested — — Unvested at March 31, 2017 942,073 $ 6.25 Stock compensation expense associated with the performance share unit awards was $0.6 million and $0.4 million for the three months ended March 31, 2017 and 2016, respectively, and is included in general and administrative expenses on the Company’s Consolidated Statement of Operations. Performance Unit Awards The value of awarded performance units in which each recipient vests at such time, if any, will range from $0.00 to $200.00 per performance unit based on the Company’s total shareholder return relative to an industry peer group over the applicable three-year performance period. For accounting purposes, the performance units are treated as a liability award with the liability being re-measured at the end of each reporting period. Therefore, the expense associated with these awards is subject to volatility until the payout is finally determined at the end of the performance period. The value of the performance units was determined at award using a Monte Carlo simulation model, as of the grant date, which resulted in an estimated final value upon vesting of $1.3 million. The fair value measured as of March 31, 2017 was $1.0 million. Stock compensation expense associated with the performance unit awards was less than $0.1 million and was $0.0 million for the three months ended March 31, 2017 and 2016, respectively, and is included in general and administrative expenses on the Company’s Consolidated Statement of Operations. As of March 31, 2017, $0.6 million of unrecognized compensation expense related to the performance unit awards, subject to re-measurement and adjustment for the change in estimated final value as of the end of each reporting period, is expected to be recognized over the remaining weighted average service period of 1.75 years. Restricted Stock Awards The Company has outstanding restricted stock awards granted to the non-employee members of the Board of Directors of the Company under the LTIP. The restricted stock will vest upon the director serving as a director of the Company for a one-year service period in accordance with the terms of the award. The fair value of the awards was based on the price of the Company’s Class A common stock on the date of grant. The following table summarizes information related to the total value of the awards to the Board of Directors as of March 31, 2017: Weighted Average Restricted Grant Date Fair Value Stock Awards per Share Unvested at December 31, 2016 152,050 $ 3.68 Granted — — Forfeited — — Vested — — Unvested at March 31, 2017 152,050 $ 3.68 Stock compensation expense associated with awards to the members of the Board of Directors was $0.2 million and $0.2 million for the three months ended March 31, 2017 and 2016, respectively, and is included in general and administrative expenses on the Company’s Consolidated Statement of Operations.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Income Taxes	10. Income Taxes The Company records federal and state income tax liabilities associated with its status as a corporation. The Company recognizes a tax liability on its share of pre-tax book income, exclusive of the non-controlling interest. JEH is not subject to income tax at the federal level and only recognizes Texas franchise tax expense. The Company’s effective tax rate was (0.6)% and 18.1% for the three months ended March 31, 2017 and 2016, respectively. The effective tax rate reduction is primarily due to the effect of the valuation allowance recorded against the Company’s deferred tax assets. The effective rate differs from the statutory rate of 35% due to net income allocated to the non-controlling interest, percentage depletion, state income taxes, the valuation allowance recorded against deferred tax assets, and other permanent differences between book and tax accounting. The Company’s income tax provision was an expense of less than $0.1 million and of $10.7 million for the three months ended March 31, 2017 and 2016, respectively. The following table summarizes information related to the allocation of the income tax provision between the controlling and non-controlling interests: Three Months Ended March 31, (in thousands of dollars) 2017 2016 Jones Energy, Inc. $ 14 $ 10,569 Non-controlling interest 7 134 Income tax provision (benefit) $ 21 $ 10,703 The Company had deferred tax assets for its federal and state net operating loss carry forwards at March 31, 2017 recorded in its deferred taxes. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As of March 31, 2017, we have a valuation allowance of $4.1 million as a result of management’s assessment of the realizability of federal and state deferred tax assets. Management believes that there will be sufficient future taxable income based on the reversal of temporary differences to enable utilization of substantially all other tax carryforwards. Tax Receivable Agreement In connection with the IPO, the Company entered into a Tax Receivable Agreement (the “TRA”) which obligates the Company to make payments to certain current and former owners equal to 85% of the applicable cash savings that the Company realizes as a result of tax attributes arising from exchanges of JEH Units and shares of the Company’s Class B common stock held by those owners for shares of the Company’s Class A common stock. The Company will retain the benefit of the remaining 15% of these tax savings. At the time of an exchange, the company records a liability to reflect the future payments under the TRA. The actual amount and timing of payments to be made under the TRA will depend upon a number of factors, including the amount and timing of taxable income generated in the future, changes in future tax rates, the use of loss carryovers, and the portion of the Company’s payments under the TRA constituting imputed interest. In the event that the Company records a valuation allowance against its deferred tax assets associated with an exchange, the TRA liability will also be reduced as the payment of the TRA liability is dependent on the realizability of the deferred tax assets. As of March 31, 2017 and December 31, 2016, the amount of the TRA liability was reduced by $3.3 million and $2.7 million, respectively, as a result of the valuation allowance recorded against the Company’s deferred tax assets. To the extent the Company does not realize all of the tax benefits in future years or in the event of a change in future tax rates, this liability may change. As of March 31, 2017 and December 31, 2016, the Company had recorded a TRA liability of $42.4 million and $43.0 million, respectively, for the estimated payments that will be made to the Class B shareholders who have exchanged shares, after adjusting for the TRA liability reduction, along with corresponding deferred tax assets, net of valuation allowance, of $49.7 million, and $50.6 million, respectively, as a result of the increase in tax basis generated arising from such exchanges. As of March 31, 2017, the Company had not made any significant payments under the TRA to Class B shareholders who have exchanged JEH Units and Class B common stock for Class A common stock. The Company anticipates making a payment of approximately $0.6 million under the TRA with respect to cash savings that the Company will realize on its 2016 tax returns as a result of tax attributes arising from prior exchanges, to be paid in the first quarter of 2018. Cash Tax Distributions The holders of JEH Units, including Jones Energy, Inc., incur U.S. federal, state and local income taxes on their share of any taxable income of JEH. Under the terms of its operating agreement, JEH is generally required to make quarterly pro-rata cash tax distributions to its unitholders (including us) based on income allocated to its unitholders through the end of each relevant quarter, as adjusted to take into account good faith projections by the Company of taxable income or loss for the remainder of the calendar year, to the extent JEH has cash available for such distributions and subject to certain other restrictions. A Special Committee of the Board of Directors comprised solely of directors who do not have a direct or indirect interest in such distribution approved, and JEH made, aggregate cash tax distributions during the three months ended March 31, 2017 of $1.7 million. The distributions were made pro-rata to all members of JEH, and included a $1.1 million payment to the Company and a $0.6 million payment to Class B shareholders. The tax distributions were paid as a result of JEH’s 2016 taxable income. During the three months ended March 31, 2016 the Company did not make any tax distributions.

Stockholders' and Mezzanine equ

Stockholders' and Mezzanine equity	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Stockholders’ and Mezzanine equity	11. Stockholders’ and Mezzanine equity Stockholders’ equity is comprised of two classes of common stock, Class A common stock and Class B common stock. The Class B common stock is held by the owners of JEH prior to the Company’s IPO and can be exchanged (together with a corresponding number of units representing membership interests in JEH Units) for shares of Class A common stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications and other similar transactions. The Class B common stock has no economic rights but entitles its holders to one vote on all matters to be voted on by the Company’s stockholders generally. The Company has classified the Series A preferred stock as mezzanine equity based upon the terms and conditions that contain various redemption and conversion features. For a description of these features, please see below under “—Offering of 8.0% Series A Perpetual Convertible Preferred Stock.” Equity Distribution Agreement On May 24, 2016, the Company and JEH entered into an Equity Distribution Agreement (“Equity Distribution Agreement”) with Citigroup Global Markets Inc. and Wells Fargo Securities, LLC (each, a “Manager” and collectively, the “Managers”). Pursuant to the terms of the Equity Distribution Agreement, the Company may sell from time to time through the Managers, as the Company’s sales agents, the Company’s Class A common stock having an aggregate offering price of up to $73.0 million (the “Class A Shares”). Under the terms of the Equity Distribution Agreement, the Company may also sell Class A Shares from time to time to any Manager as principal for its own account at a price to be agreed upon at the time of sale. Any sale of Class A Shares to a Manager as principal would be pursuant to the terms of a separate terms agreement between the Company and such Manager. Sales of the Class A Shares, if any, will be made by means of ordinary brokers’ transactions, to or through a market maker or directly on or through an electronic communication network, a “dark pool” or any similar market venue, or as otherwise agreed by the Company and one or more of the Managers. During the three months ended March 31, 2017, the Company sold approximately 1.2 million Class A Shares under the Equity Distribution Agreement for net proceeds of approximately $2.8 million ($2.9 million gross proceeds, net of approximately $0.1 million in commissions and professional services expenses). The Company used the net proceeds for general corporate purposes. At March 31, 2017, approximately $67.9 million in aggregate offering proceeds remained available to be issued and sold under the Equity Distribution Agreement. Offering of Class A Common Stock On August 26, 2016, the Company issued 21,000,000 shares of Class A common stock pursuant to an underwritten public offering, and on September 12, 2016 the Company issued an additional 3,150,000 shares of Class A common stock in connection with the exercise of the underwriters’ over-allotment option. The total net proceeds (after underwriters’ discounts and commissions, but before estimated expenses) of the offering, including the exercise of the over-allotment option, was $64.0 million. Offering of 8.0% Series A Perpetual Convertible Preferred Stock On August 26, 2016, the Company issued 1,840,000 shares of Series A preferred stock pursuant to an underwritten public offering for total net proceeds (after underwriters’ discounts and commissions but before expenses) of $88.3 million. Holders of Series A preferred stock are entitled to receive, when as and if declared by the Company’s Board of Directors, cumulative dividends at the rate of 8.0% per annum (the “dividend rate”) per share on the $50.00 liquidation preference per share of the Series A Preferred Stock, payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, beginning on November 15, 2016. Dividends may be paid in cash or, subject to certain limitations, in Class A common stock, or a combination thereof. Under the terms of the Series A preferred stock, the Company’s ability to declare or pay dividends or make distributions on, or purchase, redeem or otherwise acquire for consideration, shares of the Company’s Class A common stock, or any junior stock or parity stock currently outstanding or issued in the future, will be subject to certain restrictions in the event that the Company does not pay in full or declare and set aside for payment in full all accrued and unpaid dividends on the Series A preferred stock (including certain unpaid excess cash payment amounts excused from payment as a dividend due to restrictions in credit facilities or other indebtedness or legal requirements (“Unpaid Excess Cash Payment Amounts”)). Each share of Series A preferred stock has a liquidation preference of $50.00 per share and is convertible, at the holder’s option at any time, into approximately 17.0683 shares of Class A common stock after adjusting the conversion ratio for the effects of the Special Stock Dividend, as defined in Note 11, “Stockholders’ and Mezzanine equity”, (which is equivalent to a conversion price of approximately $2.93 per share after adjusting for the effects of the Special Stock Dividend), subject to specified further adjustments and limitations as set forth in the certificate of designations for the Series A preferred stock. Based on the adjusted conversion rate and the full exercise of the Preferred Stock Underwriters’ over-allotment option, approximately 31.4 million shares of Class A common stock would be issuable upon conversion of all the Series A preferred stock. On or after August 15, 2021, the Company may, at its option, give notice of its election to cause all outstanding shares of Series A preferred stock to be automatically converted into shares of Class A common stock at the conversion rate, if the closing sale price of the Class A common stock equals or exceeds 175% of the conversion price for at least 20 trading days in a period of 30 consecutive trading days. On August 15, 2024 (the “designated redemption date”), each holder of Series A preferred stock may require us to redeem any or all Series A preferred stock held by such holder outstanding on the designated redemption date at a redemption price equal to a liquidation preference of $50.00 per share plus all accrued dividends on the shares up to but excluding the designated redemption date that have not been paid plus any Unpaid Excess Cash Payment Amounts (the “redemption price”). At our option, the redemption price may be paid in cash or, subject to certain limitations, in Class A common stock, or a combination thereof. Except as required by law or the Company’s certificate of incorporation, which includes the certificate of designations for the Series A preferred stock, the holders of Series A preferred stock have no voting rights (other than with respect to certain matters regarding the Series A preferred stock or when dividends payable on the Series A preferred stock have not been paid for an aggregate of six quarterly dividend periods, or more, whether or not consecutive, as provided in the certificate of designations for the Series A preferred stock). The Series A preferred stock is classified as mezzanine equity on the Company’s Consolidated Balance Sheet and is not listed on a national stock exchange. A summary of the Company’s Mezzanine equity for the three months ended March 31, 2017 is as follows: (in thousands of dollars) Mezzanine equity at December 31, 2016 $ 88,975 Dividends on preferred stock, net — Accretion on preferred stock 187 Mezzanine equity at March 31, 2017 $ 89,162 Preferred Stock Dividend On January 19, 2017, the Company’s Board of Directors declared a quarterly cash dividend per share equal to 8.0% based on the liquidation preference of $50.00 per share on an annualized basis, or $1.00 per share, on the Series A preferred stock. This dividend is for the period beginning on the last payment date of November 15, 2016 through February 14, 2017 and was paid in cash on February 15, 2017 to shareholders of record as of February 1, 2017. Special Stock Dividend On March 31, 2017, the Company paid a stock dividend (the “Special Stock Dividend”) of 0.087423 shares of the Class A common stock to holders of record as of March 15, 2017. From time-to-time, JEH makes cash distributions to the holders of JEH Units to cover tax obligations that may occur as a result of any net taxable income of JEH allocable to holders of JEH Units. As a holder of JEH Units, the Company has received such cash distributions from JEH in excess of the amount required to satisfy the Company’s associated tax obligations. As a result, the Company used the excess cash of approximately $17.5 million in the aggregate to acquire newly-issued JEH Units from JEH. The Special Stock Dividend was distributed in order to equalize the number of shares of Class A common stock outstanding to the number of JEH Units held by the Company, and the aggregate number of shares of Class A common stock issued in the Special Stock Dividend equaled the number of additional JEH Units the Company purchased from JEH. The Company purchased 4,999,927 JEH Units at a price of $3.50 per share, which is the volume weighted average price per share of the Class A common stock for the five trading days ended February 28, 2017. Immaterial cash payments were made in lieu of fractional shares. The comparative earnings per share information has been recast to retrospectively adjust for the effects of the Special Stock Dividend.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Earnings per Share	12. Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income (loss) attributable to controlling interests by the weighted average number of shares of Class A common stock outstanding during the period. Shares of Class B common stock are not included in the calculation of earnings per share because they are not participating securities and have no economic interest in the Company. Diluted earnings per share takes into account the potential dilutive effect of shares that could be issued by the Company in conjunction with the Series A preferred stock and from stock awards that have been granted to directors and employees. Awards of non-vested shares are considered outstanding as of the respective grant dates for purposes of computing diluted EPS even though the award is contingent upon vesting. For the three months ending March 31, 2017, 1,385,065 restricted stock units, 942,073 performance share units, and 31,405,672 shares from the convertible Class A preferred stock, were excluded from the calculation as they would have had an anti-dilutive effect. The following is a calculation of the basic and diluted weighted-average number of shares of Class A common stock outstanding and EPS: Three Months Ended March 31, (in thousands, except per share data) 2017 2016 Income (numerator): Net income (loss) attributable to controlling interests $ (1,387) $ 18,911 Less: Dividends and accretion on preferred stock (2,027) — Net income (loss) attributable to common shareholder $ (3,414) $ 18,911 Weighted-average shares (denominator): (1) Weighted-average number of shares of Class A common stock - basic 62,197 33,222 Weighted-average number of shares of Class A common stock - diluted 62,197 33,222 Earnings (loss) per share: (1) Basic - Net income (loss) attributable to common shareholders $ (0.05) $ 0.57 Diluted - Net income (loss) attributable to common shareholders $ (0.05) $ 0.57 (1) All share and earnings per share information presented has been recast to retrospectively adjust for the effects of the 0.087423 per share Special Stock Dividend, as defined in Note 11, “Stockholders’ and Mezzanine equity”, distributed on March 31, 2017.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Related Parties	13. Related Parties Related Party Transactions Transactions with Our Executive Officers, Directors and 5% Stockholders Monarch Natural Gas Holdings, LLC Natural Gas Sale and Purchase Agreement On May 7, 2013, the Company entered into a natural gas sale and purchase agreement with Monarch Natural Gas, LLC, (“Monarch”), under which Monarch has the first right to gather the natural gas the Company produces from dedicated properties, process the NGLs from this natural gas production and market the processed natural gas and extracted NGLs. Under the Monarch agreement, the Company is paid a specified percentage of the value of the NGLs extracted and sold by Monarch, based on a set liquids recovery percentage, and the amount received from the sale of the residue gas, after deducting a fixed volume for fuel, lost and unaccounted for gas. The Company produced approximately 1.4 MMBoe of natural gas and NGLs for the year ended December 31, 2014, from the properties that became subject to the Monarch agreement. During the year ended December 31, 2014, the Company recognized $37.0 million of revenue associated with the aforementioned natural gas and NGL production. Effective May 1, 2015, the rights to gather natural gas under the sale and purchase agreement transferred from Monarch to Enable Midstream Partners LP, (“Enable”), an unaffiliated third-party. Prior to closing of the transfer of these rights, the Company produced approximately 1.0 MMBoe of natural gas and NGLs for the year ended December 31, 2015 from the properties that became subject to the Monarch agreement for which the Company recognized $10.6 million of revenue. The revenue, for all years mentioned, is recorded in Oil and gas sales on the Company’s Consolidated Statement of Operations. The initial term of the agreement, which remains unchanged by the transfer to Enable, runs for 10 years from the effective date of September 1, 2013. At the time the Company entered into the 2013 Monarch agreement, Metalmark Capital owned approximately 81% of the outstanding equity interests of Monarch. In addition, Metalmark Capital beneficially owns in excess of five percent of the Company’s outstanding equity interests and two of our directors, Howard I. Hoffen and Gregory D. Myers, are managing directors of Metalmark Capital. In connection with the Company’s entering into the 2013 Monarch agreement, Monarch issued to JEH equity interests in Monarch, having an estimated fair value of $15.0 million, in return for marketing services to be provided throughout the term of the agreement. The Company recorded this amount as deferred revenue which is being amortized on an estimated units-of-production basis commencing in September 2013, the first month of product sales to Monarch. The Company amortized $0.5 million and $0.6 million, respectively, of the deferred revenue balance during the three months ended March 31, 2017 and 2016. This revenue is recorded in Other revenues on the Company’s Consolidated Statement of Operations. Following the issuance of the $15.0 million Monarch equity interests, JEH assigned $2.4 million of the equity interests to Jonny Jones, the Company’s chief executive officer and chairman of the Board of Directors, and reserved $2.6 million of the equity interests for future distribution through an incentive plan to certain of the Company’s officers, including Mike McConnell, Robert Brooks and Eric Niccum. The remaining $10.0 million of Monarch equity interests was distributed to certain of the Class B shareholders, which included, among others, Metalmark Capital, the Jones family entities, and certain of the Company’s officers and directors, including Jonny Jones, Mike McConnell and Eric Niccum. As of March 31, 2017, equity interests in Monarch of $0.7 million are included in Other assets on the Company’s Consolidated Balance Sheet. During the three months ended March 31, 2017, equity interests of $0.0 million were distributed to management under the incentive plan. The Company recognized expense of $0.1 million during the three months ended March 31, 2017 in connection with the incentive plan. In September 2014, the Company 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 dedicated Company leases in Texas. At the time the Company entered into the agreement, Metalmark Capital owned the majority of the outstanding equity interests of Monarch Oil Pipeline LLC and/or its parent. 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. The Company incurred gathering fees, which were paid to Monarch Oil Pipeline LLC, of $0.7 million for the three months ended March 31, 2017, associated with the approximately 0.3 MMBoe of oil production transported under the agreement. These costs are recorded as an offset to Oil and gas sales in the Company’s Consolidated Statement of Operations. The aforementioned production was recognized as Oil and gas sales on the Company’s Consolidated Statement of Operations at the time it was sold to the purchasers, who are unaffiliated third parties, after passing through the gathering and transportation system. The audit committee of the Board of Directors reviewed and approved the terms of the agreement with Monarch Oil Pipeline LLC. Purchases of Senior Unsecured Notes On February 29, 2016, JEH and Jones Energy Finance Corp. purchased $50.0 million principal amount of their outstanding 2023 Notes from investment funds managed by Magnetar Capital and its affiliates, which investment funds collectively own more than 5% of a class of voting securities of the Company, for approximately $23.3 million excluding accrued interest and including any associated fees. On the same day, JEH and Jones Energy Finance Corp. purchased an additional $50.0 million principal amount of their outstanding 2023 Notes from investment funds managed by Blackstone Group Management L.L.C. and its affiliates, which investment funds collectively own more than 5% of a class of voting securities of the Company, for approximately $23.3 million excluding accrued interest and including any associated fees. In conjunction with the extinguishment of this $100.0 million principal amount of debt, JEH recognized cancellation of debt income of $48.3 million on a pre-tax basis. This income is recorded in Gain on debt extinguishment on the Company’s Consolidated Statement of Operations. Issuance of Class A Shares In connection with the August 2016 issuance of Class A common stock pursuant to an underwritten public offering as described above under “Item 11. Stockholders’ and Mezzanine equity—Offering of Class A Common Stock,” affiliates of JVL Advisors, L.L.C. (“JVL”), who owns more than 5% of a class of voting securities of the Company, purchased 17,868,330 shares of Class A common stock in the offering, for gross proceeds to the Company of $25.0 million, before underwriting discounts and commissions of $1.1 million. Following its purchase in the offering, JVL owned in excess of 15% of our outstanding voting stock. As a result, the Company entered into a letter agreement with JVL (the “JVL Letter Agreement”) in connection with the offering. The JVL Letter Agreement approved, pursuant to Section 203 of the Delaware General Corporation Law (“Section 203”), the purchase of shares of Class A common stock in the offering by JVL. This approval resulted in JVL not being subject to the restrictions on “business combinations” contained in Section 203. In consideration of such approval, JVL agreed that, among other things: · it will not acquire any material assets of the Company; · it will not become the owner of more than 19.9% of the Company’s outstanding voting stock (other than as a result of actions taken solely by the Company) without the prior approval of the Company’s independent directors who are not affiliated with JVL; and · it will not engage in any “business combination” (as defined in the JVL Letter Agreement). On May 3, 2017, the Company amended and restated its registration rights agreement dated August 29, 2013 (as amended and restated, the “Restated Registration Rights Agreement”) to add JVL as a party in order to facilitate an orderly distribution of JVL’s shares of Class A common stock in the future, a copy of which was filed on the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 3, 2017. Issuance of Series A Preferred Stock In connection with the August 2016 issuance of Series A preferred stock pursuant to an underwritten public offering as described above under “Item 11. Stockholders’ and Mezzanine equity—Offering of 8.0% Series A Perpetual Convertible Preferred Stock,” affiliates of Metalmark, who owns more than 5% of a class of voting securities of the Company and has two representatives on our Board of Directors, purchased 200,000 shares of Series A preferred stock in the offering, for gross proceeds to the Company of $10.0 million, before underwriting discounts and commissions of $400,000.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Commitments and Contingencies	14. Commitments and Contingencies Litigation The Company is subject to legal proceedings and claims that arise in the ordinary course of its business. When applicable, we record accruals for contingencies when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. While the outcome of lawsuits and other proceedings against us cannot be predicted with certainty, in the opinion of management, individually or in the aggregate, no such lawsuits are expected to have a material effect on our financial position, results of operations, or liquidity. In an action filed on June 12, 2015 in the 31 st District Court of Hemphill County, Texas, Donna Kim Flowers and Mitchell Kirk Flowers v. Jones Energy, LLC f/k/a Jones Energy Limited, LLC f/k/a Jones Energy, Ltd. (Case No. 7225), the Company was sued by Donna Kim Flowers and Mitchell Kirk Flowers (the “plaintiffs”). The plaintiffs own surface rights to property located in Hemphill County, Texas. The mineral rights are leased to third parties, and the Company is the operator of the Oil and Gas Mineral Lease. On May 28, 2010, the plaintiffs and the Company entered into a Surface Use Agreement concerning the Company’s operations on the property, which require the Company to minimize disruption and damage to the plaintiffs’ surface rights. The plaintiffs allege that the Company is in breach of such contract, and seek monetary damages. In June 2016, the Company presented a settlement offer to the plaintiffs. As a result of this settlement offer, the Company has accrued $1.5 million related to its estimated obligation under this settlement offer. This accrual was included in accrued liabilities on the Company’s Consolidated Balance Sheet as of March 31, 2017, and the charge was recorded as general and administrative expense on the Company’s Consolidated Statement of Operations during the year ended December 31, 2016. However, no certainty exists that a settlement will be reached or if so, the amount of any such settlement. Therefore, the ultimate loss could be greater or less than the amount accrued. In the event the plaintiffs and the Company are not able to reach a settlement, a court date is anticipated to occur during the third quarter of 2017.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Subsequent Events	15. Subsequent Events Forms of Award Agreements under LTIP On April 15, 2017, the Compensation Committee of our Board of Directors approved new forms of award agreements for the restricted stock units, performance share units and performance units issuable under the LTIP, which forms are attached hereto as Exhibits 10.1, 10.2 and 10.3, respectively. The new forms of award agreements modify the prior forms solely to require the recipient of an award to satisfy any withholding tax requirement by selling unrestricted shares of Class A common stock to the Company at a price per share equal to the fair market value of such shares, as further described in the applicable award agreement. The foregoing description is not complete and is qualified in its entirety by reference to the full text of the applicable award agreement, which are filed as Exhibits 10.1, 10.2 and 10.3 to this Quarterly Report on Form 10-Q and is incorporated herein by reference. Preferred Stock Dividend Declared On April 17, 2017, the Company declared a quarterly dividend per share equal to 8.0% on an annualized basis based on the liquidation preference of $50.00 per share, or $1.00 per share, on the Company’s Series A preferred stock. The dividend will be paid in a combination of cash and the Company’s Class A common stock, with the cash component equal to $0.83 per share and the stock component equal to $0.17 per share. The price per share of the Class A common stock used to determine the number of shares to be issued will be equal to 95% of the average volume-weighted average price per share for each day during the 5-consecutive day trading period ending immediately prior to the payment date. This dividend is for the period beginning on the last payment date of February 15, 2017 through May 14, 2017 and will be payable on May 15, 2017 to shareholders of record as of May 1, 2017. Shelf Registration Statement on Form S-3 On May 3, 2017, the Company filed a registration statement on Form S-3 (the “Form S-3”) pursuant to certain rights and obligations under the Restated Registration Rights Agreement. The Form S-3 registers the offer and resale of (i) up to an aggregate of 17,868,330 shares of our Class A common stock by JVL and (ii) up to an aggregate of 181,600 shares of our Series A preferred stock by Metalmark. The Form S-3 has not yet been declared effective by the Securities and Exchange Commission.

Subsidiary Guarantors

Subsidiary Guarantors	3 Months Ended
	Mar. 31, 2017
Disclosure Text Block
Subsidiary Guarantors	16. Subsidiary Guarantors The 2022 Notes and the 2023 Notes are guaranteed on a senior unsecured basis by the Company and by all of JEH’s current subsidiaries (except Jones Energy Finance Corp. and two immaterial subsidiaries) and certain future subsidiaries, including any future subsidiaries that guarantee any indebtedness under the Revolver. Each subsidiary guarantor is 100% owned by JEH, and all guarantees are full and unconditional, subject to customary exceptions pursuant to the indentures governing our 2022 Notes and 2023 Notes, as discussed below, and joint and several with all other subsidiary guarantees and the parent guarantee. Any subsidiaries of JEH other than the subsidiary guarantors and Jones Energy Finance Corp. are immaterial. As of December 31, 2016, the 2022 Notes and the 2023 Notes were guaranteed on a senior unsecured basis by the Company and by all of its significant subsidiaries, other than Nosley SCOOP, LLC and Nosley Acquisition, LLC. These subsidiaries have since become guarantors during the first quarter of 2017 and are therefore presented accordingly in the accompanying condensed consolidated guarantor financial information. Guarantees of the 2022 Notes and 2023 Notes will be released under certain circumstances, including (i) in connection with any sale or other disposition of (a) all or substantially all of the properties or assets of a guarantor (including by way of merger or consolidation) or (b) all of the capital stock of such guarantor, in each case, to a person that is not the Company or a restricted subsidiary of the Company, (ii) if the Company designates any restricted subsidiary that is a guarantor as an unrestricted subsidiary, (iii) upon legal defeasance, covenant defeasance or satisfaction and discharge of the applicable indenture, or (iv) at such time as such guarantor ceases to guarantee any other indebtedness of the Company or any other guarantor. The Company is a holding company whose sole material asset is an equity interest in JEH. The Company is the sole managing member of JEH and is responsible for all operational, management and administrative decisions related to JEH’s business. In accordance with JEH’s limited liability company agreement, the Company may not be removed as the sole managing member of JEH. As of March 31, 2017, the Company held 63,373,033 JEH Units and all of the preferred units representing membership interests in JEH, and the remaining 29,832,098 JEH Units are held by the Class B shareholders. The Class B shareholders have no voting rights with respect to their economic interest in JEH. The Company has two classes of common stock, Class A common stock, which was sold to investors in the IPO, and Class B common stock, and one series of preferred stock, Series A preferred stock. Pursuant to the Company’s certificate of incorporation, each share of Class A common stock is entitled to one vote per share, and the shares of Class A common stock are entitled to 100% of the economic interests in the Company. Each share of Class B common stock has no economic rights in the Company, but entitles its holder to one vote on all matters to be voted on by the Company’s stockholders generally. Except as required by law or the Company’s certificate of incorporation, which includes the certificate of designations for the Series A preferred stock, the holders of Series A preferred stock have no voting rights (other than with respect to certain matters regarding the Series A preferred stock or when dividends payable on the Series A preferred stock have not been paid for an aggregate of six quarterly dividend periods, or more, whether or not consecutive, as provided in the certificate of designations for the Series A preferred stock). In connection with a reorganization that occurred immediately prior to the IPO, each Existing Owner was issued a number of shares of Class B common stock that was equal to the number of JEH Units that such Class B shareholders held. Holders of the Company’s Class A common stock and Class B common stock generally vote together as a single class on all matters presented to the Company’s stockholders for their vote or approval. Accordingly, the Class B shareholders collectively have a number of votes in the Company equal to the aggregate number of JEH Units that they hold. The Class B shareholders have the right, pursuant to the terms of an exchange agreement by and among the Company, JEH and each of the Class B shareholders (the “Exchange Agreement”), to exchange their JEH Units (together with a corresponding number of shares of Class B common stock) for shares of Class A common stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications and other similar transactions. As a result, the Company expects that over time the Company will have an increasing economic interest in JEH as Class B common stock and JEH Units are exchanged for Class A common stock. Moreover, any transfers of JEH Units outside of the Exchange Agreement (other than permitted transfers to affiliates) must be approved by the Company. The Company intends to retain full voting and management control over JEH. Jones Energy, Inc. Condensed Consolidating Balance Sheet March 31, 2017 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets Cash $ 4,781 $ 239 $ 3,668 $ 20 $ — $ 8,708 Accounts receivable, net Oil and gas sales — — 25,787 — — 25,787 Joint interest owners — — 6,533 — — 6,533 Other — 3,907 311 — — 4,218 Commodity derivative assets — 30,101 — — — 30,101 Other current assets 342 224 6,712 — — 7,278 Intercompany receivable 17,581 1,175,883 — — (1,193,464) — Total current assets 22,704 1,210,354 43,011 20 (1,193,464) 82,625 Oil and gas properties, net, at cost under the successful efforts method — — 1,764,947 — — 1,764,947 Other property, plant and equipment, net — — 2,325 595 — 2,920 Commodity derivative assets — 17,767 — — — 17,767 Other assets — 4,867 895 — — 5,762 Investment in subsidiaries 548,561 — — — (548,561) — Total assets $ 571,265 $ 1,232,988 $ 1,811,178 $ 615 $ (1,742,025) $ 1,874,021 Liabilities and Stockholders’ Equity Current liabilities Trade accounts payable $ 31 $ 29 $ 55,697 $ — $ — $ 55,757 Oil and gas sales payable — — 28,112 — — 28,112 Accrued liabilities 58 14,813 10,077 — — 24,948 Commodity derivative liabilities — 8,717 — — — 8,717 Other current liabilities 639 1,984 600 — — 3,223 Intercompany payable — — 1,583,080 2,849 (1,585,929) — Total current liabilities 728 25,543 1,677,566 2,849 (1,585,929) 120,757 Long-term debt — 701,586 — — — 701,586 Deferred revenue — 6,591 — — — 6,591 Commodity derivative liabilities — 178 — — — 178 Asset retirement obligations — — 20,035 — — 20,035 Liability under tax receivable agreement 41,720 — — — — 41,720 Other liabilities — 316 633 — — 949 Deferred tax liabilities 85 2,841 — — — 2,926 Total liabilities 42,533 737,055 1,698,234 2,849 (1,585,929) 894,742 Mezzanine equity Series A preferred stock, $0.001 par value; 1,840,000 shares issued and outstanding at March 31, 2017 89,162 — — — — 89,162 Stockholders’/ members' equity Members' equity — 495,933 112,944 (2,234) (606,643) — Class A common stock, $0.001 par value; 63,395,635 shares issued and 63,373,033 shares outstanding at March 31, 2017 63 — — — — 63 Class B common stock, $0.001 par value; 29,832,098 shares issued and outstanding at March 31, 2017 30 — — — — 30 Treasury stock, at cost: 22,602 shares at March 31, 2017 (358) — — — — (358) Additional paid-in-capital 470,107 — — — — 470,107 Retained earnings (deficit) (30,272) — — — — (30,272) Stockholders' equity 439,570 495,933 112,944 (2,234) (606,643) 439,570 Non-controlling interest — — — — 450,547 450,547 Total stockholders’ equity 439,570 495,933 112,944 (2,234) (156,096) 890,117 Total liabilities and stockholders’ equity $ 571,265 $ 1,232,988 $ 1,811,178 $ 615 $ (1,742,025) $ 1,874,021 Jones Energy, Inc. Condensed Consolidating Balance Sheet December 31, 2016 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets Cash $ 27,164 $ 1,975 $ 5,483 $ 20 $ — $ 34,642 Accounts receivable, net Oil and gas sales — — 26,568 — — 26,568 Joint interest owners — — 5,267 — — 5,267 Other — 5,434 627 — — 6,061 Commodity derivative assets — 24,100 — — — 24,100 Other current assets — 422 2,262 — — 2,684 Intercompany receivable 15,666 1,180,859 — — (1,196,525) — Total current assets 42,830 1,212,790 40,207 20 (1,196,525) 99,322 Oil and gas properties, net, at cost under the successful efforts method — — 1,743,588 — — 1,743,588 Other property, plant and equipment, net — — 2,378 618 — 2,996 Commodity derivative assets — 34,744 — — — 34,744 Other assets — 5,265 785 — — 6,050 Investment in subsidiaries 531,363 — — — (531,363) — Total assets $ 574,193 $ 1,252,799 $ 1,786,958 $ 638 $ (1,727,888) $ 1,886,700 Liabilities and Stockholders’ Equity Current liabilities Trade accounts payable $ — $ 13 $ 36,514 $ — $ — $ 36,527 Oil and gas sales payable — — 28,339 — — 28,339 Accrued liabilities 3,874 11,227 10,597 9 — 25,707 Commodity derivative liabilities — 14,650 — — — 14,650 Other current liabilities — 1,984 600 — — 2,584 Intercompany payable — — 1,566,941 2,796 (1,569,737) — Total current liabilities 3,874 27,874 1,642,991 2,805 (1,569,737) 107,807 Long-term debt — 724,009 — — — 724,009 Deferred revenue — 7,049 — — — 7,049 Commodity derivative liabilities — 1,209 — — — 1,209 Asset retirement obligations — — 19,458 — — 19,458 Liability under tax receivable agreement 43,045 — — — — 43,045 Other liabilities — 269 523 — — 792 Deferred tax liabilities 85 2,820 — — — 2,905 Total liabilities 47,004 763,230 1,662,972 2,805 (1,569,737) 906,274 Mezzanine equity Series A preferred stock, $0.001 par value; 1,840,000 shares issued and outstanding at December 31, 2016 88,975 — — — — 88,975 Stockholders’/ members' equity Members' equity — 489,569 123,986 (2,167) (611,388) — Class A common stock, $0.001 par value; 57,048,076 shares issued and 57,025,474 shares outstanding at December 31, 2016 57 — — — — 57 Class B common stock, $0.001 par value; 29,832,098 shares issued and outstanding at December 31, 2016 30 — — — — 30 Treasury stock, at cost: 22,602 shares at December 31, 2016 (358) — — — — (358) Additional paid-in-capital 447,137 — — — — 447,137 Retained earnings (deficit) (8,652) — — — — (8,652) Stockholders' equity 438,214 489,569 123,986 (2,167) (611,388) 438,214 Non-controlling interest — — — — 453,237 453,237 Total stockholders’ equity 438,214 489,569 123,986 (2,167) (158,151) 891,451 Total liabilities and stockholders’ equity $ 574,193 $ 1,252,799 $ 1,786,958 $ 638 $ (1,727,888) $ 1,886,700 Jones Energy, Inc. Condensed Consolidating Statement of Operations Three Months Ended March 31, 2017 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Operating revenues Oil and gas sales $ — $ — $ 40,677 $ — $ — $ 40,677 Other revenues — 458 98 — — 556 Total operating revenues — 458 40,775 — — 41,233 Operating costs and expenses Lease operating — — 8,806 — — 8,806 Production and ad valorem taxes — — (906) — — (906) Exploration — — 2,944 — — 2,944 Depletion, depreciation and amortization — — 35,631 23 — 35,654 Accretion of ARO liability — — 201 — — 201 General and administrative — 2,993 5,004 44 — 8,041 Total operating expenses — 2,993 51,680 67 — 54,740 Operating income (loss) — (2,535) (10,905) (67) — (13,507) Other income (expense) Interest expense — (12,814) (73) — — (12,887) Net gain (loss) on commodity derivatives — 22,320 — — — 22,320 Other income (expense) 668 (24) (64) — — 580 Other income (expense), net 668 9,482 (137) — — 10,013 Income (loss) before income tax 668 6,947 (11,042) (67) — (3,494) Equity interest in income (2,055) — — — 2,055 — Income tax provision (benefit) — 21 — — — 21 Net income (loss) (1,387) 6,926 (11,042) (67) 2,055 (3,515) Net income (loss) attributable to non-controlling interests — — — — (2,128) (2,128) Net income (loss) attributable to controlling interests $ (1,387) $ — $ — $ — $ — $ (1,387) Dividends and accretion on preferred stock (2,027) — — — — (2,027) Net income (loss) attributable to common shareholders $ (3,414) $ — $ — $ — $ — $ (3,414) Jones Energy, Inc. Condensed Consolidating Statement of Operations Three Months Ended March 31, 2016 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Operating revenues Oil and gas sales $ — $ — $ 25,080 $ — $ — $ 25,080 Other revenues — 645 133 — — 778 Total operating revenues — 645 25,213 — — 25,858 Operating costs and expenses Lease operating — — 8,617 — — 8,617 Production and ad valorem taxes — — 1,601 — — 1,601 Exploration — — 162 — — 162 Depletion, depreciation and amortization — — 41,739 23 — 41,762 Accretion of ARO liability — — 293 — — 293 General and administrative — 2,878 4,601 25 — 7,504 Total operating expenses — 2,878 57,013 48 — 59,939 Operating income (loss) — (2,233) (31,800) (48) — (34,081) Other income (expense) Interest expense — (15,038) 240 — — (14,798) Gain on debt extinguishment — 90,652 — — — 90,652 Net gain (loss) on commodity derivatives — 17,219 — — — 17,219 Other income (expense) 429 (200) (4) — — 225 Other income (expense), net 429 92,633 236 — — 93,298 Income (loss) before income tax 429 90,400 (31,564) (48) — 59,217 Equity interest in income 28,968 — — — (28,968) — Income tax provision (benefit) 10,486 217 — — — 10,703 Net income (loss) 18,911 90,183 (31,564) (48) (28,968) 48,514 Net income (loss) attributable to non-controlling interests — — — — 29,603 29,603 Net income (loss) attributable to controlling interests $ 18,911 $ — $ — $ — $ — $ 18,911 Jones Energy, Inc. Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2017 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Cash flows from operating activities Net income (loss) $ (1,387) $ 6,926 $ (11,042) $ (67) $ 2,055 $ (3,515) Adjustments to reconcile net income (loss) to net cash provided by operating activities (23,060) (11,848) 53,994 67 (2,055) 17,098 Net cash (used in) / provided by operations (24,447) (4,922) 42,952 — — 13,583 Cash flows from investing activities Additions to oil and gas properties — — (47,110) — — (47,110) Net adjustments to purchase price of properties acquired — — 2,391 — — 2,391 Proceeds from sales of assets — — 144 — — 144 Acquisition of other property, plant and equipment — — (192) — — (192) Current period settlements of matured derivative contracts — 27,854 — — — 27,854 Net cash (used in) / provided by investing — 27,854 (44,767) — — (16,913) Cash flows from financing activities Proceeds from issuance of long-term debt — 30,000 — — — 30,000 Repayment of long-term debt — (53,000) — — — (53,000) Payment of dividends on preferred stock (1,840) — — — — (1,840) Net distributions paid to JEH unitholders 1,075 (1,637) — — — (562) Net payments for share based compensation — (31) — — — (31) Proceeds from sale of common stock 2,829 — — — — 2,829 Net cash (used in) / provided by financing 2,064 (24,668) — — — (22,604) Net increase (decrease) in cash (22,383) (1,736) (1,815) — — (25,934) Cash Beginning of period 27,164 1,975 5,483 20 — 34,642 End of period $ 4,781 $ 239 $ 3,668 $ 20 $ — $ 8,708 Jones Energy, Inc. Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2016 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Cash flows from operating activities Net income (loss) $ 18,911 $ 90,183 $ (31,564) $ (48) $ (28,968) $ 48,514 Adjustments to reconcile net income (loss) to net cash provided by operating activities (18,911) (134,122) 70,677 48 28,968 (53,340) Net cash (used in) / provided by operations — (43,939) 39,113 — — (4,826) Cash flows from investing activities Additions to oil and gas properties — — (7,176) — — (7,176) Proceeds from sales of assets — — 3 — — 3 Acquisition of other property, plant and equipment — — 40 — — 40 Current period settlements of matured derivative contracts — 42,298 — — 42,298 Net cash (used in) / provided by investing — 42,298 (7,133) — — 35,165 Cash flows from financing activities Proceeds from issuance of long-term debt — 75,000 — — — 75,000 Purchase of senior notes — (73,427) — — — (73,427) Net cash (used in) / provided by financing — 1,573 — — — 1,573 Net increase (decrease) in cash — (68) 31,980 — — 31,912 Cash — Beginning of period 100 12,448 9,325 20 — 21,893 End of period $ 100 $ 12,380 $ 41,305 $ 20 $ — $ 53,805

Significant Accounting Polici23

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Policy Text Blocks
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission. All significant intercompany transactions and balances have been eliminated in consolidation. The Company’s financial position as of December 31, 2016 and the financial statements reported for March 31, 2017 and 2016 and each of the three month periods then ended include the Company and all of its subsidiaries. Certain prior period amounts have been reclassified to conform to the current presentation. The accompanying unaudited condensed consolidated financial statements for the periods ending March 31, 2017 and 2016 have been prepared in accordance with GAAP for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission. Certain information relating to the Company’s organization and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been appropriately condensed or omitted in this Quarterly Report. The Company believes the disclosures made are adequate to make the information presented not misleading. The unaudited condensed consolidated financial statements contained in this report include all normal and recurring material adjustments that, in the opinion of management, are necessary for a fair statement of the financial position, results of operations and cash flows for the interim periods presented herein. It is recommended that these unaudited condensed consolidated financial statements should be read in conjunction with our most recent audited consolidated financial statements included in Jones Energy, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2016.

Properties, Plant and Equipme24

Properties, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Schedule of oil and gas properties	March 31, December 31, (in thousands of dollars) 2017 2016 Mineral interests in properties Unproved $ 208,913 $ 213,153 Proved 1,071,654 1,054,683 Wells and equipment and related facilities 1,440,949 1,395,291 2,721,516 2,663,127 Less: Accumulated depletion and impairment (956,569) (919,539) Net oil and gas properties $ 1,764,947 $ 1,743,588
Schedule of other property, plant and equipment	March 31, December 31, (in thousands of dollars) 2017 2016 Leasehold improvements $ 1,213 $ 1,213 Furniture, fixtures, computers and software 4,361 4,170 Vehicles 1,677 1,677 Aircraft 910 910 Other 284 284 8,445 8,254 Less: Accumulated depreciation and amortization (5,525) (5,258) Net other property, plant and equipment $ 2,920 $ 2,996

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Summary of long-term debt	(in thousands of dollars) March 31, 2017 December 31, 2016 Revolver $ 155,000 $ 178,000 2022 Notes 409,148 409,148 2023 Notes 150,000 150,000 Total principal amount 714,148 737,148 Less: unamortized discount (5,987) (6,240) Less: debt issuance costs, net (6,575) (6,899) Total carrying amount $ 701,586 $ 724,009

Derivative Instruments and He26

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Schedule of various commodity derivatives in place to offset uncertain price fluctuations that could affect the entity's future operations	March 31, 2017 Weighted Final Low High Average Expiration Oil swaps Exercise price $ 44.60 $ 86.85 $ 57.85 December 2020 Offset exercise price $ 42.00 $ 47.65 $ 46.28 Net barrels per month 20,000 181,000 81,978 Natural gas swaps Exercise price $ 2.78 $ 4.67 $ 3.34 December 2020 Offset exercise price $ 2.80 $ 2.92 $ 2.81 Net mmbtu per month 300,000 1,890,000 1,108,000 Natural gas liquids swaps Exercise price $ 18.06 $ 72.52 $ 27.95 October 2018 Barrels per month 115,000 145,000 130,952 Oil collars Puts (floors) $ 45.00 $ 50.00 $ 48.52 September 2019 Calls (ceilings) $ 56.60 $ 61.00 $ 59.64 Net barrels per month 65,000 73,000 67,500 Natural gas collars Puts (floors) $ 2.55 $ 2.55 $ 2.55 December 2019 Calls (ceilings) $ 3.08 $ 3.41 $ 3.19 Net barrels per month 950,000 1,050,000 990,833
Schedule of commodity derivative contracts that are netted on Consolidated Balance Sheet	Net Amounts Gross of Assets / Gross Amounts Gross Amounts Amounts Liabilities Not of Recognized Offset in the Presented in Offset in the Assets / Balance the Balance Balance (in thousands of dollars) Liabilities Sheet Sheet Sheet Net Amount March 31, 2017 Commodity derivative contracts Assets $ 65,102 $ (17,234) $ 47,868 $ — $ 47,868 Liabilities (26,129) 17,234 (8,895) — (8,895) December 31, 2016 Commodity derivative contracts Assets $ 79,649 $ (20,805) $ 58,844 $ — $ 58,844 Liabilities (36,664) 20,805 (15,859) — (15,859)

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Schedule of financial instruments carried at fair value	(in thousands of dollars) March 31, 2017 Fair Value Measurements Using Commodity Price Hedges (Level 1) (Level 2) (Level 3) Total Current assets $ — $ 30,101 $ — $ 30,101 Long-term assets — 16,547 1,220 17,767 Current liabilities — 8,026 691 8,717 Long-term liabilities — 108 70 178 (in thousands of dollars) December 31, 2016 Fair Value Measurements Using Commodity Price Hedges (Level 1) (Level 2) (Level 3) Total Current assets $ — $ 24,100 $ — $ 24,100 Long-term assets (1) — 36,384 (1,640) 34,744 Current liabilities — 13,636 1,014 14,650 Long-term liabilities — 892 317 1,209 (1) Level 3 long-term assets are negative as a result of the netting of our commodity derivative reflected on our Consolidated Balance Sheet as of December 31, 2016. Our agreements include set-off provisions, as noted in Note 6, “Derivative Instruments and Hedging Activities - Offsetting Assets and Liabilities”.
Schedule of quantitative information about Level 3 inputs used in the fair value measurement, assets	Quantitative Information About Level 3 Fair Value Measurements Fair Value Unobservable Commodity Price Hedges (000’s) Valuation Technique Input Range Natural gas liquid swaps $ (761) Use a discounted cash flow approach using inputs including forward price statements from counterparties Natural gas liquid futures $22.89 - $23.94 per barrel Crude oil collars $ 1,633 Use a discounted option model approach using inputs including interpolated volatilities for certain settlement months where market volatility quotes were unavailable for the option strike price Market volatility quotes at the option strike for certain settlement months in 2019 $45.00 - $61.00 per barrel Natural gas collars $ (413) Use a discounted option model approach using inputs including interpolated volatilities for certain settlement months where market volatility quotes were unavailable for the option strike price Market volatility quotes at the option strike for certain settlement months in 2019 $2.55 - $3.41 per barrel
Schedule of changes in fair value of Level 3 financial instruments	(in thousands of dollars) Balance at December 31, 2016, net $ (2,971) Purchases (146) Settlements (469) Transfers to Level 2 — Transfers to Level 3 — Changes in fair value 4,045 Balance at March 31, 2017, net $ 459
Schedule of fair value of financial instruments that are not recorded at fair value in the consolidated financial statements	March 31, 2017 December 31, 2016 Principal Principal (in thousands of dollars) Amount Fair Value Amount Fair Value Debt: Revolver $ 155,000 $ 155,000 $ 178,000 $ 178,000 2022 Notes 409,148 344,564 409,148 393,150 2023 Notes 150,000 143,157 150,000 153,375

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Summary of the Company's ARO	(in thousands of dollars) Balance at December 31, 2016 $ 20,058 Liabilities incurred 413 Accretion of ARO liability 201 Liabilities settled due to plugging and abandonment (37) Total ARO balance at March 31, 2017 20,635 Less: Current portion of ARO (600) Total long-term ARO at March 31, 2017 $ 20,035

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Management Unit Awards
Table Text Blocks
Summary of information related to the units/shares or awards	Weighted Average Grant Date Fair Value JEH Units per Share Unvested at December 31, 2016 90,762 $ 15.00 Granted — 15.00 Forfeited — 15.00 Vested — 15.00 Unvested at March 31, 2017 90,762 $ 15.00
Restricted Stock Unit Awards
Table Text Blocks
Summary of information related to the units/shares or awards	Restricted Weighted Average Stock Unit Grant Date Fair Value Awards per Share Unvested at December 31, 2016 1,359,142 $ 5.60 Granted 33,052 4.60 Forfeited (7,129) 4.60 Vested — — Unvested at March 31, 2017 1,385,065 $ 5.58
Performance Share Unit Awards
Table Text Blocks
Summary of information related to the units/shares or awards	Performance Weighted Average Share Unit Grant Date Fair Value Awards per Share Unvested at December 31, 2016 942,073 $ 6.25 Granted — — Forfeited — — Vested — — Unvested at March 31, 2017 942,073 $ 6.25
Restricted Stock Awards
Table Text Blocks
Summary of information related to the units/shares or awards	Weighted Average Restricted Grant Date Fair Value Stock Awards per Share Unvested at December 31, 2016 152,050 $ 3.68 Granted — — Forfeited — — Vested — — Unvested at March 31, 2017 152,050 $ 3.68

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Schedule of allocation of the income tax provision between the controlling and non-controlling interests	Three Months Ended March 31, (in thousands of dollars) 2017 2016 Jones Energy, Inc. $ 14 $ 10,569 Non-controlling interest 7 134 Income tax provision (benefit) $ 21 $ 10,703

Stockholders' and Mezzanine e31

Stockholders' and Mezzanine equity (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Schedule of mezzanine equity	(in thousands of dollars) Mezzanine equity at December 31, 2016 $ 88,975 Dividends on preferred stock, net — Accretion on preferred stock 187 Mezzanine equity at March 31, 2017 $ 89,162

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Schedule of calculation of the basic and diluted weighted-average shares and EPS	Three Months Ended March 31, (in thousands, except per share data) 2017 2016 Income (numerator): Net income (loss) attributable to controlling interests $ (1,387) $ 18,911 Less: Dividends and accretion on preferred stock (2,027) — Net income (loss) attributable to common shareholder $ (3,414) $ 18,911 Weighted-average shares (denominator): (1) Weighted-average number of shares of Class A common stock - basic 62,197 33,222 Weighted-average number of shares of Class A common stock - diluted 62,197 33,222 Earnings (loss) per share: (1) Basic - Net income (loss) attributable to common shareholders $ (0.05) $ 0.57 Diluted - Net income (loss) attributable to common shareholders $ (0.05) $ 0.57 (1) All share and earnings per share information presented has been recast to retrospectively adjust for the effects of the 0.087423 per share Special Stock Dividend, as defined in Note 11, “Stockholders’ and Mezzanine equity”, distributed on March 31, 2017.

Subsidiary Guarantors (Tables)

Subsidiary Guarantors (Tables)	3 Months Ended
	Mar. 31, 2017
Table Text Blocks
Condensed Consolidating Balance Sheet	Jones Energy, Inc. Condensed Consolidating Balance Sheet March 31, 2017 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets Cash $ 4,781 $ 239 $ 3,668 $ 20 $ — $ 8,708 Accounts receivable, net Oil and gas sales — — 25,787 — — 25,787 Joint interest owners — — 6,533 — — 6,533 Other — 3,907 311 — — 4,218 Commodity derivative assets — 30,101 — — — 30,101 Other current assets 342 224 6,712 — — 7,278 Intercompany receivable 17,581 1,175,883 — — (1,193,464) — Total current assets 22,704 1,210,354 43,011 20 (1,193,464) 82,625 Oil and gas properties, net, at cost under the successful efforts method — — 1,764,947 — — 1,764,947 Other property, plant and equipment, net — — 2,325 595 — 2,920 Commodity derivative assets — 17,767 — — — 17,767 Other assets — 4,867 895 — — 5,762 Investment in subsidiaries 548,561 — — — (548,561) — Total assets $ 571,265 $ 1,232,988 $ 1,811,178 $ 615 $ (1,742,025) $ 1,874,021 Liabilities and Stockholders’ Equity Current liabilities Trade accounts payable $ 31 $ 29 $ 55,697 $ — $ — $ 55,757 Oil and gas sales payable — — 28,112 — — 28,112 Accrued liabilities 58 14,813 10,077 — — 24,948 Commodity derivative liabilities — 8,717 — — — 8,717 Other current liabilities 639 1,984 600 — — 3,223 Intercompany payable — — 1,583,080 2,849 (1,585,929) — Total current liabilities 728 25,543 1,677,566 2,849 (1,585,929) 120,757 Long-term debt — 701,586 — — — 701,586 Deferred revenue — 6,591 — — — 6,591 Commodity derivative liabilities — 178 — — — 178 Asset retirement obligations — — 20,035 — — 20,035 Liability under tax receivable agreement 41,720 — — — — 41,720 Other liabilities — 316 633 — — 949 Deferred tax liabilities 85 2,841 — — — 2,926 Total liabilities 42,533 737,055 1,698,234 2,849 (1,585,929) 894,742 Mezzanine equity Series A preferred stock, $0.001 par value; 1,840,000 shares issued and outstanding at March 31, 2017 89,162 — — — — 89,162 Stockholders’/ members' equity Members' equity — 495,933 112,944 (2,234) (606,643) — Class A common stock, $0.001 par value; 63,395,635 shares issued and 63,373,033 shares outstanding at March 31, 2017 63 — — — — 63 Class B common stock, $0.001 par value; 29,832,098 shares issued and outstanding at March 31, 2017 30 — — — — 30 Treasury stock, at cost: 22,602 shares at March 31, 2017 (358) — — — — (358) Additional paid-in-capital 470,107 — — — — 470,107 Retained earnings (deficit) (30,272) — — — — (30,272) Stockholders' equity 439,570 495,933 112,944 (2,234) (606,643) 439,570 Non-controlling interest — — — — 450,547 450,547 Total stockholders’ equity 439,570 495,933 112,944 (2,234) (156,096) 890,117 Total liabilities and stockholders’ equity $ 571,265 $ 1,232,988 $ 1,811,178 $ 615 $ (1,742,025) $ 1,874,021 Jones Energy, Inc. Condensed Consolidating Balance Sheet December 31, 2016 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets Cash $ 27,164 $ 1,975 $ 5,483 $ 20 $ — $ 34,642 Accounts receivable, net Oil and gas sales — — 26,568 — — 26,568 Joint interest owners — — 5,267 — — 5,267 Other — 5,434 627 — — 6,061 Commodity derivative assets — 24,100 — — — 24,100 Other current assets — 422 2,262 — — 2,684 Intercompany receivable 15,666 1,180,859 — — (1,196,525) — Total current assets 42,830 1,212,790 40,207 20 (1,196,525) 99,322 Oil and gas properties, net, at cost under the successful efforts method — — 1,743,588 — — 1,743,588 Other property, plant and equipment, net — — 2,378 618 — 2,996 Commodity derivative assets — 34,744 — — — 34,744 Other assets — 5,265 785 — — 6,050 Investment in subsidiaries 531,363 — — — (531,363) — Total assets $ 574,193 $ 1,252,799 $ 1,786,958 $ 638 $ (1,727,888) $ 1,886,700 Liabilities and Stockholders’ Equity Current liabilities Trade accounts payable $ — $ 13 $ 36,514 $ — $ — $ 36,527 Oil and gas sales payable — — 28,339 — — 28,339 Accrued liabilities 3,874 11,227 10,597 9 — 25,707 Commodity derivative liabilities — 14,650 — — — 14,650 Other current liabilities — 1,984 600 — — 2,584 Intercompany payable — — 1,566,941 2,796 (1,569,737) — Total current liabilities 3,874 27,874 1,642,991 2,805 (1,569,737) 107,807 Long-term debt — 724,009 — — — 724,009 Deferred revenue — 7,049 — — — 7,049 Commodity derivative liabilities — 1,209 — — — 1,209 Asset retirement obligations — — 19,458 — — 19,458 Liability under tax receivable agreement 43,045 — — — — 43,045 Other liabilities — 269 523 — — 792 Deferred tax liabilities 85 2,820 — — — 2,905 Total liabilities 47,004 763,230 1,662,972 2,805 (1,569,737) 906,274 Mezzanine equity Series A preferred stock, $0.001 par value; 1,840,000 shares issued and outstanding at December 31, 2016 88,975 — — — — 88,975 Stockholders’/ members' equity Members' equity — 489,569 123,986 (2,167) (611,388) — Class A common stock, $0.001 par value; 57,048,076 shares issued and 57,025,474 shares outstanding at December 31, 2016 57 — — — — 57 Class B common stock, $0.001 par value; 29,832,098 shares issued and outstanding at December 31, 2016 30 — — — — 30 Treasury stock, at cost: 22,602 shares at December 31, 2016 (358) — — — — (358) Additional paid-in-capital 447,137 — — — — 447,137 Retained earnings (deficit) (8,652) — — — — (8,652) Stockholders' equity 438,214 489,569 123,986 (2,167) (611,388) 438,214 Non-controlling interest — — — — 453,237 453,237 Total stockholders’ equity 438,214 489,569 123,986 (2,167) (158,151) 891,451 Total liabilities and stockholders’ equity $ 574,193 $ 1,252,799 $ 1,786,958 $ 638 $ (1,727,888) $ 1,886,700
Condensed Consolidating Statement of Operations	Jones Energy, Inc. Condensed Consolidating Statement of Operations Three Months Ended March 31, 2017 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Operating revenues Oil and gas sales $ — $ — $ 40,677 $ — $ — $ 40,677 Other revenues — 458 98 — — 556 Total operating revenues — 458 40,775 — — 41,233 Operating costs and expenses Lease operating — — 8,806 — — 8,806 Production and ad valorem taxes — — (906) — — (906) Exploration — — 2,944 — — 2,944 Depletion, depreciation and amortization — — 35,631 23 — 35,654 Accretion of ARO liability — — 201 — — 201 General and administrative — 2,993 5,004 44 — 8,041 Total operating expenses — 2,993 51,680 67 — 54,740 Operating income (loss) — (2,535) (10,905) (67) — (13,507) Other income (expense) Interest expense — (12,814) (73) — — (12,887) Net gain (loss) on commodity derivatives — 22,320 — — — 22,320 Other income (expense) 668 (24) (64) — — 580 Other income (expense), net 668 9,482 (137) — — 10,013 Income (loss) before income tax 668 6,947 (11,042) (67) — (3,494) Equity interest in income (2,055) — — — 2,055 — Income tax provision (benefit) — 21 — — — 21 Net income (loss) (1,387) 6,926 (11,042) (67) 2,055 (3,515) Net income (loss) attributable to non-controlling interests — — — — (2,128) (2,128) Net income (loss) attributable to controlling interests $ (1,387) $ — $ — $ — $ — $ (1,387) Dividends and accretion on preferred stock (2,027) — — — — (2,027) Net income (loss) attributable to common shareholders $ (3,414) $ — $ — $ — $ — $ (3,414) Jones Energy, Inc. Condensed Consolidating Statement of Operations Three Months Ended March 31, 2016 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Operating revenues Oil and gas sales $ — $ — $ 25,080 $ — $ — $ 25,080 Other revenues — 645 133 — — 778 Total operating revenues — 645 25,213 — — 25,858 Operating costs and expenses Lease operating — — 8,617 — — 8,617 Production and ad valorem taxes — — 1,601 — — 1,601 Exploration — — 162 — — 162 Depletion, depreciation and amortization — — 41,739 23 — 41,762 Accretion of ARO liability — — 293 — — 293 General and administrative — 2,878 4,601 25 — 7,504 Total operating expenses — 2,878 57,013 48 — 59,939 Operating income (loss) — (2,233) (31,800) (48) — (34,081) Other income (expense) Interest expense — (15,038) 240 — — (14,798) Gain on debt extinguishment — 90,652 — — — 90,652 Net gain (loss) on commodity derivatives — 17,219 — — — 17,219 Other income (expense) 429 (200) (4) — — 225 Other income (expense), net 429 92,633 236 — — 93,298 Income (loss) before income tax 429 90,400 (31,564) (48) — 59,217 Equity interest in income 28,968 — — — (28,968) — Income tax provision (benefit) 10,486 217 — — — 10,703 Net income (loss) 18,911 90,183 (31,564) (48) (28,968) 48,514 Net income (loss) attributable to non-controlling interests — — — — 29,603 29,603 Net income (loss) attributable to controlling interests $ 18,911 $ — $ — $ — $ — $ 18,911
Condensed Consolidating Statement of Cash Flows	Jones Energy, Inc. Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2017 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Cash flows from operating activities Net income (loss) $ (1,387) $ 6,926 $ (11,042) $ (67) $ 2,055 $ (3,515) Adjustments to reconcile net income (loss) to net cash provided by operating activities (23,060) (11,848) 53,994 67 (2,055) 17,098 Net cash (used in) / provided by operations (24,447) (4,922) 42,952 — — 13,583 Cash flows from investing activities Additions to oil and gas properties — — (47,110) — — (47,110) Net adjustments to purchase price of properties acquired — — 2,391 — — 2,391 Proceeds from sales of assets — — 144 — — 144 Acquisition of other property, plant and equipment — — (192) — — (192) Current period settlements of matured derivative contracts — 27,854 — — — 27,854 Net cash (used in) / provided by investing — 27,854 (44,767) — — (16,913) Cash flows from financing activities Proceeds from issuance of long-term debt — 30,000 — — — 30,000 Repayment of long-term debt — (53,000) — — — (53,000) Payment of dividends on preferred stock (1,840) — — — — (1,840) Net distributions paid to JEH unitholders 1,075 (1,637) — — — (562) Net payments for share based compensation — (31) — — — (31) Proceeds from sale of common stock 2,829 — — — — 2,829 Net cash (used in) / provided by financing 2,064 (24,668) — — — (22,604) Net increase (decrease) in cash (22,383) (1,736) (1,815) — — (25,934) Cash Beginning of period 27,164 1,975 5,483 20 — 34,642 End of period $ 4,781 $ 239 $ 3,668 $ 20 $ — $ 8,708 Jones Energy, Inc. Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2016 Guarantor Non-Guarantor (in thousands of dollars) JEI (Parent) Issuers Subsidiaries Subsidiaries Eliminations Consolidated Cash flows from operating activities Net income (loss) $ 18,911 $ 90,183 $ (31,564) $ (48) $ (28,968) $ 48,514 Adjustments to reconcile net income (loss) to net cash provided by operating activities (18,911) (134,122) 70,677 48 28,968 (53,340) Net cash (used in) / provided by operations — (43,939) 39,113 — — (4,826) Cash flows from investing activities Additions to oil and gas properties — — (7,176) — — (7,176) Proceeds from sales of assets — — 3 — — 3 Acquisition of other property, plant and equipment — — 40 — — 40 Current period settlements of matured derivative contracts — 42,298 — — 42,298 Net cash (used in) / provided by investing — 42,298 (7,133) — — 35,165 Cash flows from financing activities Proceeds from issuance of long-term debt — 75,000 — — — 75,000 Purchase of senior notes — (73,427) — — — (73,427) Net cash (used in) / provided by financing — 1,573 — — — 1,573 Net increase (decrease) in cash — (68) 31,980 — — 31,912 Cash — Beginning of period 100 12,448 9,325 20 — 21,893 End of period $ 100 $ 12,380 $ 41,305 $ 20 $ — $ 53,805

Organization and Description 34

Organization and Description of Business - Common Stock (Details)	3 Months Ended
	Mar. 31, 2017classshares
Common Stock
Number of classes of common stock | class	2
Class A common stock
Common Stock
Economic interests/rights (as a percent)	100.00%
Votes per share entitled to holders	1
Class B common stock
Common Stock
Economic interests/rights (as a percent)	0.00%
Votes per share entitled to holders	1
Pre-IPO Owners
Common Stock
Ratio in which JEH Units and Class B common stock are exchanged for Class A common stock	1
JEH | Class B common stock
Common Stock
Number of units held (in shares)	29,832,098
JEH | Jones Energy, Inc.
Common Stock
Number of units held (in shares)	63,373,033
JEH | Pre-IPO Owners
Common Stock
Number of units held (in shares)	29,832,098

Organization and Description 35

Organization and Description of Business - Series A Perpetual Convertible Preferred Stock (Details) - $ / shares	Jan. 19, 2017	Aug. 25, 2016	Mar. 31, 2017	Dec. 31, 2016
Series A Perpetual Convertible Preferred Stock
Series A preferred stock, par value (in dollars per share)			$ 0.001	$ 0.001
Minimum
Series A Perpetual Convertible Preferred Stock
Number of series of preferred stock authorized			1
Series A preferred stock
Series A Perpetual Convertible Preferred Stock
Shares issued (in shares)		1,840,000
Dividend rate (as a percent)	8.00%	8.00%
Series A preferred stock, par value (in dollars per share)		$ 0.001
Preferred stock, share price (in dollars per share)		$ 50

Significant Accounting Polici36

Significant Accounting Policies - Production Taxes (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Production taxes
The net production tax refund	$ 3.3

Significant Accounting Polici37

Significant Accounting Policies - Recent Accounting Pronouncements (Details) $ in Millions	Jan. 01, 2017USD ($)
Accounting Standards Update 2016-09
Recent Accounting Pronouncements
Cumulative effect of adoption of ASU 2016-09	$ 0.7

Acquisitions - Merge Acquisitio

Acquisitions - Merge Acquisition (Details) - Merge Acquisition $ in Millions	Sep. 22, 2016USD ($)a	Mar. 31, 2017USD ($)
Acquisitions
Purchase consideration	$ 134.4
Proceeds from Final Working Capital settlement		$ 2.4
Number of net acres | a	18,000

Acquisitions - Andarko Acquisit

Acquisitions - Andarko Acquisition - General Information (Details) $ in Millions	Aug. 25, 2016USD ($)
Anadarko Acquisition
Acquisitions
Purchase consideration	$ 25.9

Acquisitions - Andarko Acquis40

Acquisitions - Andarko Acquisition - Purchase Price Allocation (Details) - Anadarko Acquisition $ in Millions	Aug. 25, 2016USD ($)
Oil and gas properties
Purchase consideration	$ 25.9
Total assets	32.3
Oil and gas properties	32.3
Unproved	3
Proved	17
Wells and equipment and related facilities	12.3
Total liabilities	6.4
Asset retirement obligations	$ 6.4

Acquisitions - Andarko Acquis41

Acquisitions - Andarko Acquisition - Additional Information (Details) - Anadarko Acquisition	Aug. 25, 2016abbl / ditem
Acquisitions
Number of wells | item	174
Wells operated by entity (as a percent)	59.00%
Number of net acres | a	25,000
Production per day (in barrels per day) | bbl / d	900

Properties, Plant and Equipme42

Properties, Plant and Equipment - Oil and Gas Properties - Tabular Information (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Mineral interests in properties
Unproved	$ 208,913	$ 213,153
Proved	1,071,654	1,054,683
Wells and equipment and related facilities	1,440,949	1,395,291
Gross oil and gas properties	2,721,516	2,663,127
Less: Accumulated depletion and impairment	(956,569)	(919,539)
Net oil and gas properties	$ 1,764,947	$ 1,743,588

Properties, Plant and Equipme43

Properties, Plant and Equipment - Oil and Gas Properties - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)project	Mar. 31, 2016USD ($)project
Oil and Gas Properties
Number of exploratory wells for which costs were capitalized | project	0	0
Costs capitalized in connection with exploratory wells	$ 0	$ 0
Exploration expense on exploratory wells	0	0
Amount of capitalized interest on expenditures	0	0
Depletion of oil and gas properties	35,400	41,500
Impairments of proved or unproved oil and gas properties	$ 0	$ 0

Properties, Plant and Equipme44

Properties, Plant and Equipment - Other Property, Plant and Equipment - Tabular Information (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Other Property, Plant and Equipment
Gross other property, plant and equipment	$ 8,445	$ 8,254
Less: Accumulated depreciation and amortization	(5,525)	(5,258)
Net other property, plant and equipment	2,920	2,996
Leasehold improvements
Other Property, Plant and Equipment
Gross other property, plant and equipment	1,213	1,213
Furniture, fixtures, computers and software
Other Property, Plant and Equipment
Gross other property, plant and equipment	4,361	4,170
Vehicles
Other Property, Plant and Equipment
Gross other property, plant and equipment	1,677	1,677
Aircraft
Other Property, Plant and Equipment
Gross other property, plant and equipment	910	910
Other
Other Property, Plant and Equipment
Gross other property, plant and equipment	$ 284	$ 284

Properties, Plant and Equipme45

Properties, Plant and Equipment - Other Property, Plant and Equipment - Depreciation and Amortization (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Property, Plant and Equipment
Depreciation and amortization of other property, plant and equipment	$ 0.3	$ 0.3

Long-Term Debt - Tabular Disclo

Long-Term Debt - Tabular Disclosure (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Long-Term Debt
Total principal amount	$ 714,148	$ 737,148
Less: unamortized discount	(5,987)	(6,240)
Less: debt issuance costs, net	(6,575)	(6,899)
Total carrying amount	701,586	724,009
2022 Notes | Senior notes
Long-Term Debt
Total principal amount	409,148	409,148
2023 Notes | Senior notes
Long-Term Debt
Total principal amount	150,000	150,000
Revolving credit facility | Wells Fargo Bank N.A. | Revolver | Line of credit
Long-Term Debt
Total principal amount	$ 155,000	$ 178,000

Long-Term Debt - Senior Unsecur

Long-Term Debt - Senior Unsecured Notes (Details) - USD ($) $ in Thousands	Feb. 29, 2016	Feb. 23, 2015	Apr. 01, 2014	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Senior Unsecured Notes
Repayment under long-term debt				$ 53,000
Gain on debt extinguishment					$ 90,652
Senior notes
Senior Unsecured Notes
Aggregate principal amount repurchased						$ 190,900
Gain on debt extinguishment						99,500
2022 Notes | Senior notes
Senior Unsecured Notes
Aggregate principal amount			$ 500,000
Stated interest rate (as a percent)			6.75%
Aggregate principal amount repurchased						90,900
Purchased amount						38,100
Aggregate principle amount repurchased and available for reissuance						20,300
2023 Notes | Senior notes
Senior Unsecured Notes
Aggregate principal amount		$ 250,000
Stated interest rate (as a percent)		9.25%
Discount of principal amount (as a percent)		94.59%
Notes proceeds from issuance		$ 236,500
Wells Fargo Bank N.A. | Revolving credit facility | Revolver | Line of credit
Senior Unsecured Notes
Repayment under long-term debt			$ 308,000
Wells Fargo Bank N.A. | Term loan | Term Loan | Line of credit
Senior Unsecured Notes
Repayment under long-term debt			$ 160,000
Beneficial owner | 2023 Notes | Senior notes
Senior Unsecured Notes
Aggregate principal amount repurchased	$ 100,000					100,000
Purchased amount						$ 46,500
Gain on debt extinguishment	$ 48,300

Long-Term Debt - Other Long-Ter

Long-Term Debt - Other Long-Term Debt (Details) - Wells Fargo Bank N.A. - Line of credit $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Aug. 01, 2016USD ($)	Dec. 31, 2009agreement
Other Long-Term Debt
Number of credit agreements | agreement				2
Revolving credit facility | Revolver
Other Long-Term Debt
Borrowing base			$ 425
Cash balance threshold			$ 30
Average interest rate (as a percent)	2.59%	2.67%
Average outstanding balance	$ 195.2	$ 143.1
Total interest and commitment fees	$ 1.5	$ 1.3
Covenant, total leverage ratio	4
Covenant, current ratio	1
Total leverage ratio	3.73
Current ratio	2.88
Revolving credit facility | London Interbank Offered Rate (LIBOR) | Minimum | Revolver
Other Long-Term Debt
Margin interest rate (as a percent)	1.50%
Revolving credit facility | London Interbank Offered Rate (LIBOR) | Maximum | Revolver
Other Long-Term Debt
Margin interest rate (as a percent)	2.50%
Revolving credit facility | Federal Funds Effective Swap Rate | Revolver
Other Long-Term Debt
Margin interest rate (as a percent)	0.50%
Revolving credit facility | One Month Adjust LIBO Rate | Revolver
Other Long-Term Debt
Margin interest rate (as a percent)	1.00%
Revolving credit facility | Base rate | Minimum | Revolver
Other Long-Term Debt
Margin interest rate (as a percent)	0.50%
Revolving credit facility | Base rate | Maximum | Revolver
Other Long-Term Debt
Margin interest rate (as a percent)	1.50%

Derivative Instruments and He49

Derivative Instruments and Hedging Activities - Hedging Positions (Details)	3 Months Ended
	Mar. 31, 2017bbl / mo$ / bbl$ / MMBTU
Oil | Swaps | Minimum
Hedging Positions
Exercise price (in dollars per barrel)	44.60
Offset exercise price (in dollars per barrel)	42
Net barrels per month (in barrels per month) | bbl / mo	20,000
Oil | Swaps | Maximum
Hedging Positions
Exercise price (in dollars per barrel)	86.85
Offset exercise price (in dollars per barrel)	47.65
Net barrels per month (in barrels per month) | bbl / mo	181,000
Oil | Swaps | Weighted Average
Hedging Positions
Exercise price (in dollars per barrel)	57.85
Offset exercise price (in dollars per barrel)	46.28
Net barrels per month (in barrels per month) | bbl / mo	81,978
Oil | Collars | Minimum
Hedging Positions
Net barrels per month (in barrels per month) | bbl / mo	65,000
Oil | Collars | Maximum
Hedging Positions
Net barrels per month (in barrels per month) | bbl / mo	73,000
Oil | Collars | Weighted Average
Hedging Positions
Net barrels per month (in barrels per month) | bbl / mo	67,500
Natural gas | Swaps | Minimum
Hedging Positions
Exercise price (in dollars per mmbtu) | $ / MMBTU	2.78
Offset exercise price (in dollars per mmbtu)	2.80
Net mmbtu per month (in mmbtu per month)	300,000
Natural gas | Swaps | Maximum
Hedging Positions
Exercise price (in dollars per mmbtu) | $ / MMBTU	4.67
Offset exercise price (in dollars per mmbtu)	2.92
Net mmbtu per month (in mmbtu per month)	1,890,000
Natural gas | Swaps | Weighted Average
Hedging Positions
Exercise price (in dollars per mmbtu) | $ / MMBTU	3.34
Offset exercise price (in dollars per mmbtu)	2.81
Net mmbtu per month (in mmbtu per month)	1,108,000
Natural gas | Collars | Minimum
Hedging Positions
Net barrels per month (in barrels per month) | bbl / mo	950,000
Natural gas | Collars | Maximum
Hedging Positions
Net barrels per month (in barrels per month) | bbl / mo	1,050,000
Natural gas | Collars | Weighted Average
Hedging Positions
Net barrels per month (in barrels per month) | bbl / mo	990,833
Natural gas liquids | Swaps | Minimum
Hedging Positions
Exercise price (in dollars per barrel)	18.06
Net barrels per month (in barrels per month) | bbl / mo	115,000
Natural gas liquids | Swaps | Maximum
Hedging Positions
Exercise price (in dollars per barrel)	72.52
Net barrels per month (in barrels per month) | bbl / mo	145,000
Natural gas liquids | Swaps | Weighted Average
Hedging Positions
Exercise price (in dollars per barrel)	27.95
Net barrels per month (in barrels per month) | bbl / mo	130,952
Puts (floors) | Oil | Collars | Minimum
Hedging Positions
Exercise price (in dollars per barrel)	45
Puts (floors) | Oil | Collars | Maximum
Hedging Positions
Exercise price (in dollars per barrel)	50
Puts (floors) | Oil | Collars | Weighted Average
Hedging Positions
Exercise price (in dollars per barrel)	48.52
Puts (floors) | Natural gas | Collars | Minimum
Hedging Positions
Exercise price (in dollars per mmbtu)	2.55
Puts (floors) | Natural gas | Collars | Maximum
Hedging Positions
Exercise price (in dollars per mmbtu)	2.55
Puts (floors) | Natural gas | Collars | Weighted Average
Hedging Positions
Exercise price (in dollars per mmbtu)	2.55
Calls (ceilings) | Oil | Collars | Minimum
Hedging Positions
Exercise price (in dollars per barrel)	56.60
Calls (ceilings) | Oil | Collars | Maximum
Hedging Positions
Exercise price (in dollars per barrel)	61
Calls (ceilings) | Oil | Collars | Weighted Average
Hedging Positions
Exercise price (in dollars per barrel)	59.64
Calls (ceilings) | Natural gas | Collars | Minimum
Hedging Positions
Exercise price (in dollars per mmbtu)	3.08
Calls (ceilings) | Natural gas | Collars | Maximum
Hedging Positions
Exercise price (in dollars per mmbtu)	3.41
Calls (ceilings) | Natural gas | Collars | Weighted Average
Hedging Positions
Exercise price (in dollars per mmbtu)	3.19

Derivative Instruments and He50

Derivative Instruments and Hedging Activities - Recognized Gain (Loss) on Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Commodity Derivative Instruments
Recognized Net Gain (Loss) on Derivative Instruments
Net (losses) gains recognized on derivative instruments	$ 22.3	$ 17.2

Derivative Instruments and He51

Derivative Instruments and Hedging Activities - Offsetting Assets and Liabilities - Counterparties (Details)	Mar. 31, 2017Counterparty
Offsetting Assets and Liabilities
Number of counterparties to commodity derivative contracts	6

Derivative Instruments and He52

Derivative Instruments and Hedging Activities - Offsetting Assets (Details) - Commodity Derivative Instruments - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Gross Amounts of Recognized Assets	$ 65,102	$ 79,649
Gross Amounts Offset in the Balance Sheet	(17,234)	(20,805)
Net Amounts of Assets Presented in the Balance Sheet	47,868	58,844
Net Amount	$ 47,868	$ 58,844

Derivative Instruments and He53

Derivative Instruments and Hedging Activities - Offsetting Liabilities (Details) - Commodity Derivative Instruments - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Liabilities
Gross Amounts of Recognized Liabilities	$ (26,129)	$ (36,664)
Gross Amounts Offset in the Balance Sheet	17,234	20,805
Net Amounts of Liabilities Presented in the Balance Sheet	(8,895)	(15,859)
Net Amount	$ (8,895)	$ (15,859)

Fair Value Measurement - Financ

Fair Value Measurement - Financial Instruments Carried at Fair Value by Consolidated Balance Sheet Caption and by Valuation Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Valuation Hierarchy
Current assets	$ 30,101	$ 24,100
Long-term assets	17,767	34,744
Current liabilities	8,717	14,650
Long-term liabilities	178	1,209
Recurring | Commodity Derivative Instruments
Valuation Hierarchy
Current assets	30,101	24,100
Long-term assets	17,767	34,744
Current liabilities	8,717	14,650
Long-term liabilities	178	1,209
Recurring | Level 2 | Commodity Derivative Instruments
Valuation Hierarchy
Current assets	30,101	24,100
Long-term assets	16,547	36,384
Current liabilities	8,026	13,636
Long-term liabilities	108	892
Recurring | Level 3 | Commodity Derivative Instruments
Valuation Hierarchy
Long-term assets	1,220	(1,640)
Current liabilities	691	1,014
Long-term liabilities	$ 70	$ 317

Fair Value Measurement - Quanti

Fair Value Measurement - Quantitative Information about Level 3 Inputs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)$ / bbl
Natural gas liquids | Swaps | Minimum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	18.06
Natural gas liquids | Swaps | Maximum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	72.52
Oil | Swaps | Minimum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	44.60
Oil | Swaps | Maximum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	86.85
Discounted cash flow approach | Level 3 | Natural gas liquids | Swaps
Commodity Derivative Instruments - Assets
Fair Value | $	$ (761)
Discounted cash flow approach | Level 3 | Natural gas liquids | Swaps | Minimum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	22.89
Discounted cash flow approach | Level 3 | Natural gas liquids | Swaps | Maximum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	23.94
Discounted option model approach | Level 3 | Oil | Collars
Commodity Derivative Instruments - Assets
Fair Value | $	$ 1,633
Discounted option model approach | Level 3 | Oil | Collars | Minimum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	45
Discounted option model approach | Level 3 | Oil | Collars | Maximum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	61
Discounted option model approach | Level 3 | Natural gas | Collars
Commodity Derivative Instruments - Assets
Fair Value | $	$ (413)
Discounted option model approach | Level 3 | Natural gas | Collars | Minimum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	2.55
Discounted option model approach | Level 3 | Natural gas | Collars | Maximum
Commodity Derivative Instruments - Assets
Price (in dollars per barrel)	3.41

Fair Value Measurement - Change

Fair Value Measurement - Changes in Level 3 Financial Instruments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Changes in fair value of Level 3 instruments
Balance at the beginning of the period	$ (2,971)
Purchases	(146)
Settlements	(469)
Changes in fair value	4,045
Balance at the end of the period	$ 459

Fair Value Measurement - Assets

Fair Value Measurement - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Principal Amount | 2022 Notes | Senior notes
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Debt	$ 409,148	$ 409,148
Principal Amount | 2023 Notes | Senior notes
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Debt	150,000	150,000
Principal Amount | Revolving credit facility | Revolver | Line of credit
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Debt	155,000	178,000
Level 3 | Fair Value | Revolving credit facility | Revolver | Line of credit
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Debt	155,000	178,000
Level 1 | Fair Value | 2022 Notes | Senior notes
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Debt	344,564	393,150
Level 2 | Fair Value | 2023 Notes | Senior notes
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Debt	$ 143,157	$ 153,375

Asset Retirement Obligations -

Asset Retirement Obligations - Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Asset Retirement Obligations
Balance at beginning of period	$ 20,058
Liabilities incurred	413
Accretion of ARO liability	201	$ 293
Liabilities settled due to plugging and abandonment	(37)
Balance at end of period	$ 20,635

Asset Retirement Obligations 59

Asset Retirement Obligations - Liability at Period End (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Asset Retirement Obligations
ARO liability at end of period	$ 20,635	$ 20,058
Less: Current portion of ARO	(600)
Total long-term ARO at end of period	$ 20,035	$ 19,458

Stock-based Compensation - Mana

Stock-based Compensation - Management Unit Awards - New Awards (Details)	44 Months Ended
	Mar. 31, 2017shares
Management Unit Awards
Stock-based Compensation
Awards (in shares)	0

Stock-based Compensation - Ma61

Stock-based Compensation - Management Unit Awards - Activity (Details) - Management Unit Awards	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Units
Unvested at the beginning of the period (in shares) | shares	90,762
Unvested at the end of the period (in shares) | shares	90,762
Weighted Average Grant Date Fair Value per Share
Unvested at the beginning of the period (in dollars per share)	$ 15
Granted (in dollars per share)	15
Forfeited (in dollars per share)	15
Vested (in dollars per share)	15
Unvested at the end of the period (in dollars per share)	$ 15

Stock-based Compensation - Ma62

Stock-based Compensation - Management Unit Awards - Stock Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
General and administrative expenses | Management Unit Awards
Stock compensation expense
Stock compensation expense	$ 0.2	$ 0.5

Stock-based Compensation - 2013

Stock-based Compensation - 2013 Omnibus Incentive Plan (Details) - Class A common stock	3 Months Ended
	Mar. 31, 2017shares
Stock-based Compensation
Special stock dividend declared per share (in shares)	0.087423
2013 Omnibus Incentive Plan
Stock-based Compensation
Shares reserved (in shares)	7,992,559

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Unit Awards - General Information (Details)	3 Months Ended
	Mar. 31, 2017
Restricted Stock Unit Awards
Stock-based Compensation
Vesting term	3 years

Stock-based Compensation - Re65

Stock-based Compensation - Restricted Stock Unit Awards - Activity (Details) - Restricted Stock Unit Awards	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Awards
Unvested at the beginning of the period (in shares) | shares	1,359,142
Granted (in shares) | shares	33,052
Forfeited (in shares) | shares	(7,129)
Unvested at the end of the period (in shares) | shares	1,385,065
Weighted Average Grant Date Fair Value per Share
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 5.60
Granted (in dollars per share) | $ / shares	4.60
Forfeited (in dollars per share) | $ / shares	4.60
Unvested at the end of the period (in dollars per share) | $ / shares	$ 5.58

Stock-based Compensation - Re66

Stock-based Compensation - Restricted Stock Unit Awards - Stock Compensation Expense (Details) - General and administrative expenses - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restricted Stock Unit Awards
Stock compensation expense
Stock compensation expense	$ 1.1	$ 0.1
Performance Share Unit Awards
Stock compensation expense
Stock compensation expense	$ 0.6	$ 0.4

Stock-based Compensation - Perf

Stock-based Compensation - Performance Share Unit Awards - General Information (Details) - Performance Share Unit Awards	3 Months Ended
	Mar. 31, 2017
Stock-based Compensation
Vesting term	3 years
Exchangeable ratio of vested performance unit (as a percent)	1
Class A common stock | Minimum
Stock-based Compensation
Number of shares of common stock issuable upon vesting of the performance unit awards (as a percent)	0.00%
Class A common stock | Maximum
Stock-based Compensation
Number of shares of common stock issuable upon vesting of the performance unit awards (as a percent)	200.00%

Stock-based Compensation - Pe68

Stock-based Compensation - Performance Share Unit Awards - Activity (Details) - Performance Share Unit Awards	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Awards
Unvested at the beginning of the period (in shares) | shares	942,073
Unvested at the end of the period (in shares) | shares	942,073
Weighted Average Grant Date Fair Value per Share
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 6.25
Unvested at the end of the period (in dollars per share) | $ / shares	$ 6.25

Stock-based Compensation - Pe69

Stock-based Compensation - Performance Share Unit Awards - Stock Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
General and administrative expenses | Performance Share Unit Awards
Stock compensation expense
Stock compensation expense	$ 0.6	$ 0.4

Stock-based Compensation - Pe70

Stock-based Compensation - Performance Unit Awards - General Information (Details) - Performance Unit Awards $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)$ / shares
Stock-based Compensation
Performance period (in years)	3 years
Estimated final value upon vesting | $	$ 1.3
Fair value | $	$ 1
Minimum
Stock-based Compensation
Vested (in dollars per share) | $ / shares	$ 0
Maximum
Stock-based Compensation
Vested (in dollars per share) | $ / shares	$ 200

Stock-based Compensation - Pe71

Stock-based Compensation - Performance Unit Awards - Stock Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Performance Unit Awards | General and administrative expenses
Stock-based Compensation
Stock compensation expense	$ 0.1	$ 0

Stock-based Compensation - Pe72

Stock-based Compensation - Performance Unit Awards - Additional Disclosures (Details) - Performance Unit Awards $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Stock-based Compensation
Unrecognized expenses	$ 0.6
Weighted-average remaining recognition period (in years)	1 year 9 months

Stock-based Compensation - Re73

Stock-based Compensation - Restricted Stock Awards - General Information (Details)	3 Months Ended
	Mar. 31, 2017
Restricted Stock Awards
Stock-based Compensation
Service period from date of grant	1 year

Stock-based Compensation - Re74

Stock-based Compensation - Restricted Stock Awards - Activity (Details) - Restricted Stock Awards	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Awards
Unvested at the beginning of the period (in shares) | shares	152,050
Unvested at the end of the period (in shares) | shares	152,050
Weighted Average Grant Date Fair Value per Share
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 3.68
Unvested at the end of the period (in dollars per share) | $ / shares	$ 3.68

Stock-based Compensation - Re75

Stock-based Compensation - Restricted Stock Awards - Stock Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
General and administrative expenses | Restricted Stock Awards
Stock compensation expense
Stock compensation expense	$ 0.2	$ 0.2

Income Taxes - General Informat

Income Taxes - General Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Taxes
Effective tax rate (as a percent)	(0.60%)	18.10%
Statutory rate (as a percent)	35.00%
Income tax provision (benefit)	$ 21	$ 10,703

Income Taxes - Tax Provision -

Income Taxes - Tax Provision - Attributable to Controlling Interests and Non-controlling Interests (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Tax provision
Jones Energy, Inc.	$ 14	$ 10,569
Non-controlling interest	7	134
Total income tax provision (benefit)	$ 21	$ 10,703

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss Carry-forward (Details) $ in Millions	Mar. 31, 2017USD ($)
Income Taxes
Valuation allowance	$ 4.1

Income Taxes - Tax Receivable A

Income Taxes - Tax Receivable Agreement (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Tax Receivable Agreement
Cash savings percentage (as a percent)	85.00%
Benefits of cash savings retained under tax receivable agreement (as a percent)	15.00%
Increase (decrease) in TRA liability due to valuation allowance recorded	$ 3,300	$ 2,700
Liability under tax receivable agreement	41,720	43,045
Valuation allowance	49,700	$ 50,600
Anticipated payment	$ 600

Income Taxes - Cash Tax Distrib

Income Taxes - Cash Tax Distributions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Cash Tax Distributions
Cash tax distributions	$ 1.7
Cash tax distributions, JEH to the Company	1.1
Cash tax distributions, JEH to Class B shareholders	$ 0.6

Stockholders' and Mezzanine e81

Stockholders' and Mezzanine equity - Common Stock (Details)	3 Months Ended
	Mar. 31, 2017class
Common Stock
Number of classes of common stock	2
Pre-IPO Owners
Common Stock
Ratio in which JEH Units and Class B common stock are exchanged for Class A common stock	1
Class A common stock
Common Stock
Economic interests/rights (as a percent)	100.00%
Votes per share entitled to holders	1
Class B common stock
Common Stock
Economic interests/rights (as a percent)	0.00%
Votes per share entitled to holders	1

Stockholders' and Mezzanine e82

Stockholders' and Mezzanine equity - Series A Perpetual Convertible Preferred Stock (Details)	Jan. 19, 2017	Aug. 25, 2016
Series A preferred stock
Series A Perpetual Convertible Preferred Stock
Dividend rate (as a percent)	8.00%	8.00%

Stockholders' and Mezzanine e83

Stockholders' and Mezzanine equity - Equity Distribution Agreement (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2017	May 24, 2016
Common Stock
Proceeds from sale of common stock	$ 2,829
Class A common stock
Common Stock
Offering value to sell common stock shares under equity distribution agreement		$ 73,000
Sale of common stock (in shares)	1.2
Proceeds from sale of common stock	$ 2,800
Gross proceeds from sale of common stock	2,900
Professional services expenses	100
Aggregate offering price	$ 67,900

Stockholders' and Mezzanine e84

Stockholders' and Mezzanine equity - Offering of Class A Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 12, 2016	Aug. 25, 2016	Sep. 12, 2016	Mar. 31, 2017	Dec. 31, 2016
Common Stock
Proceeds from sale of common stock				$ 2,829
Class A common stock
Common Stock
Shares issued				1,200,000
Common stock, par value (in dollars per share)				$ 0.001	$ 0.001
Proceeds from sale of common stock				$ 2,800
Class A common stock | Common Stock Underwriting Agreement
Common Stock
Shares issued		21,000,000
Proceeds from sale of common stock			$ 64,000
Class A common stock | Over-Allotment Option
Common Stock
Shares issued	3,150,000

Stockholders' and Mezzanine e85

Stockholders' and Mezzanine equity - Mezzanine Equity - General Information (Details) $ / shares in Units, $ in Millions	Jan. 19, 2017$ / shares	Aug. 25, 2016USD ($)$ / sharesshares	Mar. 31, 2017item$ / shares	Dec. 31, 2016$ / shares
Series A Perpetual Convertible Preferred Stock
Series A preferred stock, par value (in dollars per share)			$ 0.001	$ 0.001
Series A preferred stock
Series A Perpetual Convertible Preferred Stock
Dividend rate (as a percent)	8.00%	8.00%
Shares issued (in shares) | shares		1,840,000
Net proceeds from offering | $		$ 88.3
Liquidation preference (in dollars per share)	$ 50	$ 50
Series A preferred stock, par value (in dollars per share)		$ 0.001
Conversion ratio		17.0683
Equivalent conversion price (in dollars per share)		$ 2.93
Shares issuable upon conversion | shares		31,400,000
Conversion threshold (as a percent)			175.00%
Minimum number of trading days | item			20
Consecutive trading days			30 days

Stockholders' and Mezzanine e86

Stockholders' and Mezzanine equity - Mezzanine Equity - Tabular Disclosure (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Mezzanine equity
Mezzanine equity at the beginning of period	$ 88,975
Mezzanine equity at the end of period	89,162
Series A preferred stock
Mezzanine equity
Mezzanine equity at the beginning of period	88,975
Accretion on preferred stock	187
Mezzanine equity at the end of period	$ 89,162

Stockholders' and Mezzanine e87

Stockholders' and Mezzanine equity - Preferred Stock Dividend and Special Stock Dividend (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 19, 2017	Aug. 25, 2016	Mar. 31, 2017
Special Stock Dividend Declared
Distributions from JEH			$ 17.5
Volume weighted average price per share, period			5 years
Series A preferred stock
Preferred Stock Dividend Declared
Dividend rate (as a percent)	8.00%	8.00%
Liquidation preference (in dollars per share)	$ 50	$ 50
Dividend declared (in dollars per share)	$ 1
Class A common stock
Special Stock Dividend Declared
Special stock dividend declared per share (in shares)			0.087423
JEH
Special Stock Dividend Declared
Number of additional common units purchased			4,999,927
JEH
Special Stock Dividend Declared
Share price (in dollars per share)			$ 3.50

Earnings per Share - Anti-dilut

Earnings per Share - Anti-dilutive Securities (Details)	3 Months Ended
	Mar. 31, 2017shares
Restricted Stock Unit Awards
Earnings per Share
Antidilutive securities (in shares)	1,385,065
Performance Share Unit Awards
Earnings per Share
Antidilutive securities (in shares)	942,073
Class B common stock
Earnings per Share
Economic interests/rights (as a percent)	0.00%
Series A preferred stock
Earnings per Share
Antidilutive securities (in shares)	31,405,672

Earnings per Share - Basic Earn

Earnings per Share - Basic Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Income (numerator):
Net income (loss) attributable to controlling interests		$ (1,387)	$ 18,911
Less: Dividends and accretion on preferred stock		(2,027)
Net income (loss) attributable to common shareholders		$ (3,414)	$ 18,911
Weighted-average shares (denominator):
Weighted-average number of shares of Class A common stock - basic	[1]	62,197	33,222
Weighted-average number of shares of Class A common stock - diluted	[1]	62,197	33,222
Earnings (loss) per share:
Basic - Net income (loss) attributable to common shareholders	[1]	$ (0.05)	$ 0.57
Diluted - Net income (loss) attributable to common shareholders	[1]	$ (0.05)	$ 0.57
[1]	All share and earnings per share information presented has been recast to retrospectively adjust for the effects of the 0.087423 per share Special Stock Dividend, as defined in Note 11, “Stockholders’ and Mezzanine equity”, distributed on March 31, 2017.

Earnings per Share - Additonal

Earnings per Share - Additonal Information (Details)	3 Months Ended
	Mar. 31, 2017shares
Class A common stock
Special Stock Dividend Declared
Special stock dividend declared per share (in shares)	0.087423

Related Parties - Natural Gas S

Related Parties - Natural Gas Sale and Purchase Agreement with Monarch Natural Gas, LLC (Details)	Sep. 01, 2013
Enable Midstream Partners LP
Related Party Transactions
Initial term of the agreement (in years)	10 years

Related Parties - Metalmark Cap

Related Parties - Metalmark Capital and Monarch Natural Gas, LLC (Details) - director	May 07, 2013	Mar. 31, 2017
Monarch Natural Gas, LLC | Investee | Metalmark
Related Party Transactions
Metalmark Capital's ownership percentage in Monarch (as a percent)	81.00%
Metalmark | Beneficial owner
Related Party Transactions
Number of directors who are managing directors of the related party		2
Minimum | Metalmark | Beneficial owner
Related Party Transactions
Beneficial ownership interest (as a percent)		5.00%

Related Parties - Monarch Natur

Related Parties - Monarch Natural Gas, LLC Equity Interests (Details) - Monarch Natural Gas, LLC - Investee - USD ($) $ in Millions	May 07, 2013	Mar. 31, 2017	Mar. 31, 2016
Related Party Transactions
Estimated fair value of equity interests issued to the entity	$ 15
Amortization of deferred revenue		$ 0.5	$ 0.6
Value of equity interests assigned to Jonny Jones	2.4
Value of equity interests reserved for an incentive plan established for certain of the entity's officers	2.6
Value of remaining equity interests distributed to certain of the pre-IPO owners	$ 10
Equity interests distributed to management		0
Stock compensation expense		0.1
Other assets
Related Party Transactions
Estimated fair value of equity interests issued to the entity		$ 0.7

Related Parties - Transportatio

Related Parties - Transportation Agreement with Monarch Oil Pipeline LLC (Details) $ in Thousands	Sep. 01, 2013	May 07, 2013	Sep. 30, 2014	Mar. 31, 2017USD ($)MMBoedirector	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)MMBoe	Dec. 31, 2014USD ($)MMBoe
Related Party Transactions
Oil and gas sales				$ 40,677	$ 25,080
Cash distributions associated with equity interests				17,500
Monarch Oil Pipeline LLC | Investee
Related Party Transactions
Term of Oil Gathering and Transportation Agreement (in years)			10 years
Gathering fees				$ 700
Oil production transported (in MMBoe) | MMBoe				0.3
Monarch Natural Gas, LLC | Investee
Related Party Transactions
Oil production transported (in MMBoe) | MMBoe						1	1.4
Oil and gas sales						$ 10,600	$ 37,000
Enable Midstream Partners LP
Related Party Transactions
Initial term of the agreement (in years)	10 years
Metalmark | Beneficial owner
Related Party Transactions
Number of directors who are managing directors of the related party | director				2
Metalmark | Monarch Natural Gas, LLC | Investee
Related Party Transactions
Metalmark Capital's ownership percentage in Monarch (as a percent)		81.00%
Minimum | Metalmark | Beneficial owner
Related Party Transactions
Beneficial ownership interest (as a percent)				5.00%

Related Parties - Purchase of S

Related Parties - Purchase of Senior Notes (Details) - USD ($) $ in Thousands	Feb. 29, 2016	Mar. 31, 2016	Dec. 31, 2016
Senior Unsecured Notes
Gain on debt extinguishment		$ 90,652
Minimum | Magnetar Capital and Affiliates | Beneficial owner
Senior Unsecured Notes
Beneficial ownership interest (as a percent)	5.00%
Minimum | Blackstone Group Management L.L.C. and Affiliates | Beneficial owner
Senior Unsecured Notes
Beneficial ownership interest (as a percent)	5.00%
Senior notes
Senior Unsecured Notes
Aggregate principal amount repurchased			$ 190,900
Gain on debt extinguishment			99,500
2023 Notes | Senior notes | Beneficial owner
Senior Unsecured Notes
Aggregate principal amount repurchased	$ 100,000		100,000
Purchased amount			$ 46,500
Gain on debt extinguishment	48,300
2023 Notes | Senior notes | Magnetar Capital and Affiliates | Beneficial owner
Senior Unsecured Notes
Aggregate principal amount repurchased	50,000
Purchased amount	23,300
2023 Notes | Senior notes | Blackstone Group Management L.L.C. and Affiliates | Beneficial owner
Senior Unsecured Notes
Aggregate principal amount repurchased	50,000
Purchased amount	$ 23,300

Related Parties - Issuance of C

Related Parties - Issuance of Class A Shares (Details) - USD ($) $ in Thousands	Aug. 25, 2016	Mar. 31, 2017
Common Stock
Proceeds from sale of common stock		$ 2,829
Class A common stock
Common Stock
Sale of common stock (in shares)		1,200,000
Proceeds from sale of common stock		$ 2,800
Class A common stock | JVL | Beneficial owner
Common Stock
Sale of common stock (in shares)	17,868,330
Proceeds from sale of common stock	$ 25,000
Underwriting discounts and commissions	$ 1,100
Class A common stock | Minimum | JVL | Beneficial owner
Common Stock
Beneficial ownership interest (as a percent)	5.00%
Ownership percentage (as a percent)	15.00%
Class A common stock | Maximum | Beneficial owner
Common Stock
Ownership percentage (as a percent)	19.90%

Related Parties - Issuance of S

Related Parties - Issuance of Series A Preferred Stock (Details)	Jan. 19, 2017	Aug. 25, 2016USD ($)shares	Aug. 31, 2016director
Minimum | Metalmark | Beneficial owner
Series A Perpetual Convertible Preferred Stock
Beneficial ownership interest (as a percent)		5.00%
Series A preferred stock
Series A Perpetual Convertible Preferred Stock
Dividend rate (as a percent)	8.00%	8.00%
Shares issued (in shares) | shares		1,840,000
Proceeds from sale of preferred stock		$ 88,300,000
Series A preferred stock | Director
Series A Perpetual Convertible Preferred Stock
Number of directors who are managing directors of the related party | director			2
Shares issued (in shares) | shares		200,000
Proceeds from sale of preferred stock		$ 10,000,000
Underwriting discounts and commissions		$ 400,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2017USD ($)
Surface Rights Use Violation Case
Litigation
Accrued liability on settlement offer	$ 1.5

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	May 03, 2017	Apr. 17, 2017	Jan. 19, 2017	Aug. 25, 2016
Series A preferred stock
Preferred Stock Dividend Declared
Dividend rate (as a percent)			8.00%	8.00%
Liquidation preference (in dollars per share)			$ 50	$ 50
Dividend declared (in dollars per share)			$ 1
Series A preferred stock | Subsequent Event
Preferred Stock Dividend Declared
Dividend rate (as a percent)		8.00%
Liquidation preference (in dollars per share)		$ 50
Dividend declared (in dollars per share)		1
Dividend declared, cash portion (in dollars per share)		0.83
Dividend declared, common stock portion (in dollars per share)		$ 0.17
Average volume-weighted price per share percentage (as a percent)		95.00%
Average volume-weighted price per share percentage, consecutive days		5 days
Beneficial owner | JVL | Subsequent Event
Preferred Stock Dividend Declared
Shelf registration (in shares)	17,868,330
Beneficial owner | Metalmark | Series A preferred stock | Subsequent Event
Preferred Stock Dividend Declared
Shelf registration (in shares)	181,600

Subsidiary Guarantors - Debt an

Subsidiary Guarantors - Debt and Equity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Feb. 23, 2015	Apr. 01, 2014
Senior notes | 2022 Notes
Subsidiary Guarantors
Issuance of debt			$ 500
Senior notes | 2023 Notes
Subsidiary Guarantors
Issuance of debt		$ 250
Issuers | Guarantor Subsidiaries
Subsidiary Guarantors
Ownership percentage in subsidiary guarantors	100.00%

Subsidiary Guarantors - General

Subsidiary Guarantors - General Information (Details)	3 Months Ended
	Mar. 31, 2017classshares
Subsidiary Guarantors
Number of classes of common stock | class	2
Class A common stock
Subsidiary Guarantors
Votes per share entitled to holders	1
Economic interests/rights (as a percent)	100.00%
Class B common stock
Subsidiary Guarantors
Votes per share entitled to holders	1
Economic interests/rights (as a percent)	0.00%
Pre-IPO Owners
Subsidiary Guarantors
Ratio in which JEH Units and Class B common stock are exchanged for Class A common stock	1
JEH | Class B common stock
Subsidiary Guarantors
Number of units held (in shares)	29,832,098
JEH | Jones Energy, Inc.
Subsidiary Guarantors
Number of units held (in shares)	63,373,033
JEH | Pre-IPO Owners
Subsidiary Guarantors
Number of units held (in shares)	29,832,098

Subsidiary Guarantors - Condens

Subsidiary Guarantors - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash	$ 8,708	$ 34,642
Accounts receivable, net
Oil and gas sales	25,787	26,568
Joint interest owners	6,533	5,267
Other	4,218	6,061
Commodity derivative assets	30,101	24,100
Other current assets	7,278	2,684
Total current assets	82,625	99,322
Oil and gas properties, net, at cost under the successful efforts method	1,764,947	1,743,588
Other property, plant and equipment, net	2,920	2,996
Commodity derivative assets	17,767	34,744
Other assets	5,762	6,050
Total assets	1,874,021	1,886,700
Current liabilities
Trade accounts payable	55,757	36,527
Oil and gas sales payable	28,112	28,339
Accrued liabilities	24,948	25,707
Commodity derivative liabilities	8,717	14,650
Other current liabilities	3,223	2,584
Total current liabilities	120,757	107,807
Long-term debt	701,586	724,009
Deferred revenue	6,591	7,049
Commodity derivative liabilities	178	1,209
Asset retirement obligations	20,035	19,458
Liability under tax receivable agreement	41,720	43,045
Other liabilities	949	792
Deferred tax liabilities	2,926	2,905
Total liabilities	894,742	906,274
Mezzanine equity
Series A preferred stock, $0.001 par value; [0,000,000] shares issued and outstanding at March 31, 2017 and 1,840,000 shares issued and outstanding at December 31, 2016	89,162	88,975
Stockholders' / members' equity
Treasury stock, at cost: 22,602 shares at March 31, 2017 and December 31, 2016	(358)	(358)
Additional paid-in-capital	470,107	447,137
Retained earnings (deficit)	(30,272)	(8,652)
Stockholders' equity	439,570	438,214
Non-controlling interest	450,547	453,237
Total stockholders' equity	890,117	891,451
Total liabilities and stockholders' equity	1,874,021	1,886,700
Class A common stock
Stockholders' / members' equity
Common stock	63	57
Class B common stock
Stockholders' / members' equity
Common stock	30	30
Eliminations
Accounts receivable, net
Intercompany receivable	(1,193,464)	(1,196,525)
Total current assets	(1,193,464)	(1,196,525)
Investment in subsidiaries	(548,561)	(531,363)
Total assets	(1,742,025)	(1,727,888)
Current liabilities
Intercompany payable	(1,585,929)	(1,569,737)
Total current liabilities	(1,585,929)	(1,569,737)
Total liabilities	(1,585,929)	(1,569,737)
Stockholders' / members' equity
Members' equity	(606,643)	(611,388)
Stockholders' equity	(606,643)	(611,388)
Non-controlling interest	450,547	453,237
Total stockholders' equity	(156,096)	(158,151)
Total liabilities and stockholders' equity	(1,742,025)	(1,727,888)
JEI (Parent)
Current assets
Cash	4,781	27,164
Accounts receivable, net
Other current assets	342
Intercompany receivable	17,581	15,666
Total current assets	22,704	42,830
Investment in subsidiaries	548,561	531,363
Total assets	571,265	574,193
Current liabilities
Trade accounts payable	31
Accrued liabilities	58	3,874
Other current liabilities	639
Total current liabilities	728	3,874
Liability under tax receivable agreement	41,720	43,045
Deferred tax liabilities	85	85
Total liabilities	42,533	47,004
Mezzanine equity
Series A preferred stock, $0.001 par value; [0,000,000] shares issued and outstanding at March 31, 2017 and 1,840,000 shares issued and outstanding at December 31, 2016	89,162	88,975
Stockholders' / members' equity
Treasury stock, at cost: 22,602 shares at March 31, 2017 and December 31, 2016	(358)	(358)
Additional paid-in-capital	470,107	447,137
Retained earnings (deficit)	(30,272)	(8,652)
Stockholders' equity	439,570	438,214
Total stockholders' equity	439,570	438,214
Total liabilities and stockholders' equity	571,265	574,193
JEI (Parent) | Class A common stock
Stockholders' / members' equity
Common stock	63	57
JEI (Parent) | Class B common stock
Stockholders' / members' equity
Common stock	30	30
Issuers
Current assets
Cash	239	1,975
Accounts receivable, net
Other	3,907	5,434
Commodity derivative assets	30,101	24,100
Other current assets	224	422
Intercompany receivable	1,175,883	1,180,859
Total current assets	1,210,354	1,212,790
Commodity derivative assets	17,767	34,744
Other assets	4,867	5,265
Total assets	1,232,988	1,252,799
Current liabilities
Trade accounts payable	29	13
Accrued liabilities	14,813	11,227
Commodity derivative liabilities	8,717	14,650
Other current liabilities	1,984	1,984
Total current liabilities	25,543	27,874
Long-term debt	701,586	724,009
Deferred revenue	6,591	7,049
Commodity derivative liabilities	178	1,209
Other liabilities	316	269
Deferred tax liabilities	2,841	2,820
Total liabilities	737,055	763,230
Stockholders' / members' equity
Members' equity	495,933	489,569
Stockholders' equity	495,933	489,569
Total stockholders' equity	495,933	489,569
Total liabilities and stockholders' equity	1,232,988	1,252,799
Guarantor Subsidiaries
Current assets
Cash	3,668	5,483
Accounts receivable, net
Oil and gas sales	25,787	26,568
Joint interest owners	6,533	5,267
Other	311	627
Other current assets	6,712	2,262
Total current assets	43,011	40,207
Oil and gas properties, net, at cost under the successful efforts method	1,764,947	1,743,588
Other property, plant and equipment, net	2,325	2,378
Other assets	895	785
Total assets	1,811,178	1,786,958
Current liabilities
Trade accounts payable	55,697	36,514
Oil and gas sales payable	28,112	28,339
Accrued liabilities	10,077	10,597
Other current liabilities	600	600
Intercompany payable	1,583,080	1,566,941
Total current liabilities	1,677,566	1,642,991
Asset retirement obligations	20,035	19,458
Other liabilities	633	523
Total liabilities	1,698,234	1,662,972
Stockholders' / members' equity
Members' equity	112,944	123,986
Stockholders' equity	112,944	123,986
Total stockholders' equity	112,944	123,986
Total liabilities and stockholders' equity	1,811,178	1,786,958
Non-Guarantor Subsidiaries
Current assets
Cash	20	20
Accounts receivable, net
Total current assets	20	20
Other property, plant and equipment, net	595	618
Total assets	615	638
Current liabilities
Accrued liabilities		9
Intercompany payable	2,849	2,796
Total current liabilities	2,849	2,805
Total liabilities	2,849	2,805
Stockholders' / members' equity
Members' equity	(2,234)	(2,167)
Stockholders' equity	(2,234)	(2,167)
Total stockholders' equity	(2,234)	(2,167)
Total liabilities and stockholders' equity	$ 615	$ 638

Subsidiary Guarantors - Cond103

Subsidiary Guarantors - Condensed Consolidating Balance Sheet - Additional Information (Details) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Mezzanine equity
Series A preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Series A preferred stock, shares issued	1,840,000	1,840,000
Series A preferred stock, shares outstanding	1,840,000	1,840,000
Treasury stock
Treasury stock, shares	22,602	22,602
Class A common stock
Common stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued	63,395,635	57,048,076
Common stock, shares outstanding	63,373,033	57,025,474
Class B common stock
Common stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued	29,832,098	29,832,098
Common stock, shares outstanding	29,832,098	29,832,098
JEI (Parent)
Mezzanine equity
Series A preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Series A preferred stock, shares issued	1,840,000	1,840,000
Series A preferred stock, shares outstanding	1,840,000	1,840,000
Treasury stock
Treasury stock, shares	22,602	22,602
JEI (Parent) | Class A common stock
Common stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued	63,395,635	57,048,076
Common stock, shares outstanding	63,373,033	57,025,474
JEI (Parent) | Class B common stock
Common stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued	29,832,098	29,832,098
Common stock, shares outstanding	29,832,098	29,832,098

Subsidiary Guarantors - Cond104

Subsidiary Guarantors - Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating revenues
Oil and gas sales	$ 40,677	$ 25,080
Other revenues	556	778
Total operating revenues	41,233	25,858
Operating costs and expenses
Lease operating	8,806	8,617
Production and ad valorem taxes	(906)	1,601
Exploration	2,944	162
Depletion, depreciation and amortization	35,654	41,762
Accretion of ARO liability	201	293
General and administrative	8,041	7,504
Total operating expenses	54,740	59,939
Operating income (loss)	(13,507)	(34,081)
Other income (expense)
Interest expense	(12,887)	(14,798)
Gain on debt extinguishment		90,652
Net gain (loss) on commodity derivatives	22,320	17,219
Other income (expense)	580	225
Other income (expense), net	10,013	93,298
Income (loss) before income tax	(3,494)	59,217
Income tax provision (benefit)	21	10,703
Net income (loss)	(3,515)	48,514
Net income (loss) attributable to non-controlling interests	(2,128)	29,603
Net income (loss) attributable to controlling interests	(1,387)	18,911
Dividends and accretion on preferred stock	(2,027)
Net income (loss) attributable to common shareholders	(3,414)	18,911
Eliminations
Other income (expense)
Equity interest in income	2,055	(28,968)
Net income (loss)	2,055	(28,968)
Net income (loss) attributable to non-controlling interests	(2,128)	29,603
JEI (Parent)
Other income (expense)
Other income (expense)	668	429
Other income (expense), net	668	429
Income (loss) before income tax	668	429
Equity interest in income	(2,055)	28,968
Income tax provision (benefit)		10,486
Net income (loss)	(1,387)	18,911
Net income (loss) attributable to controlling interests	(1,387)	18,911
Dividends and accretion on preferred stock	(2,027)
Net income (loss) attributable to common shareholders	(3,414)
Issuers
Operating revenues
Other revenues	458	645
Total operating revenues	458	645
Operating costs and expenses
General and administrative	2,993	2,878
Total operating expenses	2,993	2,878
Operating income (loss)	(2,535)	(2,233)
Other income (expense)
Interest expense	(12,814)	(15,038)
Gain on debt extinguishment		90,652
Net gain (loss) on commodity derivatives	22,320	17,219
Other income (expense)	(24)	(200)
Other income (expense), net	9,482	92,633
Income (loss) before income tax	6,947	90,400
Income tax provision (benefit)	21	217
Net income (loss)	6,926	90,183
Guarantor Subsidiaries
Operating revenues
Oil and gas sales	40,677	25,080
Other revenues	98	133
Total operating revenues	40,775	25,213
Operating costs and expenses
Lease operating	8,806	8,617
Production and ad valorem taxes	(906)	1,601
Exploration	2,944	162
Depletion, depreciation and amortization	35,631	41,739
Accretion of ARO liability	201	293
General and administrative	5,004	4,601
Total operating expenses	51,680	57,013
Operating income (loss)	(10,905)	(31,800)
Other income (expense)
Interest expense	(73)	240
Other income (expense)	(64)	(4)
Other income (expense), net	(137)	236
Income (loss) before income tax	(11,042)	(31,564)
Net income (loss)	(11,042)	(31,564)
Non-Guarantor Subsidiaries
Operating costs and expenses
Depletion, depreciation and amortization	23	23
General and administrative	44	25
Total operating expenses	67	48
Operating income (loss)	(67)	(48)
Other income (expense)
Income (loss) before income tax	(67)	(48)
Net income (loss)	$ (67)	$ (48)

Subsidiary Guarantors - Cond105

Subsidiary Guarantors - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income (loss)	$ (3,515)	$ 48,514
Adjustments to reconcile net income (loss) to net cash provided by operating activities	17,098	(53,340)
Net cash provided by operations	13,583	(4,826)
Cash flows from investing activities
Additions to oil and gas properties	(47,110)	(7,176)
Net adjustments to purchase price of properties acquired	2,391
Proceeds from sales of assets	144	3
Acquisition of other property, plant and equipment (net of reimbursements)	(192)	40
Current period settlements of matured derivative contracts	27,854	42,298
Net cash (used in) investing	(16,913)	35,165
Cash flows from financing activities
Proceeds from issuance of long-term debt	30,000	75,000
Repayment of long-term debt	(53,000)
Purchase of senior notes		(73,427)
Payment of dividends on preferred stock	(1,840)
Net distributions paid to JEH unitholders	(562)
Net payments for share based compensation	(31)
Proceeds from sale of common stock, net of expense	2,829
Net cash provided by financing	(22,604)	1,573
Net increase (decrease) in cash	(25,934)	31,912
Cash
Beginning of period	34,642	21,893
End of period	8,708	53,805
Eliminations
Cash flows from operating activities
Net income (loss)	2,055	(28,968)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	(2,055)	28,968
JEI (Parent)
Cash flows from operating activities
Net income (loss)	(1,387)	18,911
Adjustments to reconcile net income (loss) to net cash provided by operating activities	(23,060)	(18,911)
Net cash provided by operations	(24,447)
Cash flows from financing activities
Payment of dividends on preferred stock	(1,840)
Net distributions paid to JEH unitholders	1,075
Proceeds from sale of common stock, net of expense	2,829
Net cash provided by financing	2,064
Net increase (decrease) in cash	(22,383)
Cash
Beginning of period	27,164	100
End of period	4,781	100
Issuers
Cash flows from operating activities
Net income (loss)	6,926	90,183
Adjustments to reconcile net income (loss) to net cash provided by operating activities	(11,848)	(134,122)
Net cash provided by operations	(4,922)	(43,939)
Cash flows from investing activities
Current period settlements of matured derivative contracts	27,854	42,298
Net cash (used in) investing	27,854	42,298
Cash flows from financing activities
Proceeds from issuance of long-term debt	30,000	75,000
Repayment of long-term debt	(53,000)
Purchase of senior notes		(73,427)
Net distributions paid to JEH unitholders	(1,637)
Net payments for share based compensation	(31)
Net cash provided by financing	(24,668)	1,573
Net increase (decrease) in cash	(1,736)	(68)
Cash
Beginning of period	1,975	12,448
End of period	239	12,380
Guarantor Subsidiaries
Cash flows from operating activities
Net income (loss)	(11,042)	(31,564)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	53,994	70,677
Net cash provided by operations	42,952	39,113
Cash flows from investing activities
Additions to oil and gas properties	(47,110)	(7,176)
Net adjustments to purchase price of properties acquired	2,391
Proceeds from sales of assets	144	3
Acquisition of other property, plant and equipment (net of reimbursements)	(192)	40
Net cash (used in) investing	(44,767)	(7,133)
Cash flows from financing activities
Net increase (decrease) in cash	(1,815)	31,980
Cash
Beginning of period	5,483	9,325
End of period	3,668	41,305
Non-Guarantor Subsidiaries
Cash flows from operating activities
Net income (loss)	(67)	(48)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	67	48
Cash
Beginning of period	20	20
End of period	$ 20	$ 20