Jones Energy, an oil and gas company with a $1.3 billion market value, is buying about $200 million worth of producing and undeveloped fields in Texas and Oklahoma from a private seller, according to people briefed on the transaction.
The deal comes as exploration and production companies are snapping up assets amid a new energy boom. It is the largest deal yet for Jones, which went public this year.
The 26,000 acres being purchased by Jones are in the Anadarko basin, an oil rich swath of the Texas Panhandle and western Oklahoma. The land already has 92 producing wells on it, extracting about 3,400 barrels of oil a day. Though many drilling companies have focused on the Eagle Ford Shale in Texas and the Bakken formation in North Dakoka, Jones was attracted to the Anadarko basin because it is close to its existing operations and should provide a reliable stream of oil.
Jones conducted its initial public offering in July, part of a new generation of publicly traded oil and gas companies. Its shares had gained more than 25 percent by last month but tumbled in early November after the company reported disappointing third-quarter earnings. The deal is being financed with Jones’ existing credit facility.
