Revolution Resources to Acquire Jones Energy
Revolution Resources LLC, an affiliate of Mountain Capital Partners LP, has entered into a definitive merger agreement to acquire 100% of Jones Energy II Inc., in an all-cash corporate transaction valued at approximately US$201.5 million. The merger will result in the creation of a mid-sized E&P focused on operations in the U.S. Mid Continent, with a principal focus on the Anadarko Basin in western Oklahoma and the Texas Panhandle. In April 2019, Jones Energy Inc. had filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas. Subsequently in May, the Company emerged from bankruptcy under a pre-packaged Chapter 11 plan, with debtholders being granted equity ownership of the successor company, Jones Energy II.