Jones Energy is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma. Jones Energy's oil is generally sold under short-term, extendable and cancellable agreements with unaffiliated purchasers; its natural gas is sold at delivery points at or near producing wells to natural gas gathering and marketing companies.