On May 7, Jones Energy Inc. (NYSE: JONE) detailed its financial results for first-quarter 2014, which ended March 31.

Net income was $9.4 million, the company said.

Total operating revenues increased by 77%, or $42.7 million, from first-quarter 2013, the company said. They stood at $98.2 million, compared to first-quarter 2013’s $55.5 million, the company said. The increase was due to higher production volumes for crude oil and natural gas, as well as higher prices for all products, Jones Energy added.

Total operating expenses increased by 67%, or $25 million, from first-quarter 2013, the company said. During that period, they stood at $37.4 million, the company said.

In first-quarter 2014, they stood at $62.4 million, the company added.

The company’s capex of $108 million was divided between operations in the Cleveland, Woodford and other areas, Jones Energy said. Of that amount, $83.1 million went to Cleveland, $13.5 million went to Woodford and $0.6 million went to other areas and nonoperated work, the company added.

Regarding liquidity, an April 1 senior notes issuance resulted in net proceeds of about $489 million, the company said. Of that amount, $160 million repaid the outstanding borrowings under the second-lien term loan facility, Jones Energy added. Remaining proceeds paid down the borrowings under the senior secured revolving credit facility, and also increased working capital, the company noted. After these adjustments, the credit facility’s borrowing base decreased by $25 million, and stood at $550 million. If these adjustments and the use of proceeds were factored in by the end of first-quarter 2014, Jones Energy would have had about $340 in available credit facility borrowings and about $27 million in cash, making total liquidity about $367 million, the company noted.

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