By Tyler Losier, Energy Reporter, Oil & Gas 360

 

On May 17, Jones Energy, Inc. (stock ticker: JONEQ) emerged from Chapter 11 after satisfying the requirements of the company’s pre-packaged plan.

The announcement came 33 days after the company filed for bankruptcy protection, and less than two weeks after the U.S. Bankruptcy Court for the Southern District of Texas confirmed the plan on May 6. According to representatives for Jones, the intended course of action should not interfere with the “ordinary course of business” at the company.

Map of Jones Energy's Acreage

As part of the agreed upon plan, all of Jones’ existing securities are to be cancelled, and the company will be issuing 4,436,130 shares of Class A commo...


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