Jones Energy Inc. (NYSE: JONE) detailed its second-quarter 2014 financial results, the company said Aug. 6. The quarter ended June 30, the company added.

The quarter’s adjusted net income was $20.5 million, $3.4 million higher than second-quarter 2013’s $17.1 million, Jones said. The increase was partly due to increased production volumes, the company added.

EBITDAX was $77.1 million, the company said.

There were $106.4 million in total operating revenues, $41.9 million higher than second-quarter 2013’s $64.5 million, the company said. The increase was mainly due to increased oil and natural gas production volumes, plus higher product prices, Jones added.

Total operating expenses were $67.7 million, $23.4 million higher than second-quarter 2013’s $44.3 million, the company said. This increase was also due to higher production volumes, the company added.

Lease operating expenses were $12.4 million, higher than second-quarter 2013’s $6.2 million, the company said.

During the quarter, $129.5 million of capex was spent, the company said. Of this amount, $117.5 million supported drilling and completions. This was 91% of the capex, the company noted. In the Cleveland area, $94.2 million was spent; in the Woodford area, $21.9 million was spent; for other areas and nonoperated costs, $1.4 million was spent, Jones added. Leasehold expenses and other expenses took $12 million of capex, the company said.

The drilling and completions budget for the remainder of the year was increased by about $110 million, and full-year capital spending is now estimated at about $460 million, the company said. The budget was upsized due to higher working interests, enhanced fracking techniques, faster drilling and cost overages, Jones added.

Regarding liquidity, after about $489 million in proceeds from an offering of $500 million, in aggregate principal amount, of 6.75% senior notes were used to repay second-lien term loan and senior credit facility borrowings, the borrowing base of the facility decreased by $25 million, to $550 million, the company said. On June 30, there was $31.8 million in unrestricted cash and an undrawn facility balance of $300 million, Jones added.

Austin, Texas-based Jones Energy Inc. acquires and develops domestic oil and natural gas.