Jonny Jones' roots in the oil and gas industry date back to 1923 when his grandfather A.V. Jones, a native of Okemah, Oklahoma graduated from the University of Oklahoma with a B.S. in Geology and went to work for Marland Oil Company. In 1932 A.V. Jones formed a partnership with H. R. Stasney and later moved to Albany, Texas to work the shallow zones in West Central Texas. Jones and Stasney's first big discovery was the Avoca Field in Jones County, Texas in 1937 using A.V. Jones surface geology. In 1954 Jones and Stasney separated their holdings and A.V. Jones and Sons was formed. After graduating from the University of Oklahoma with Geology degrees A.V. Jones, Jr. and Jon Rex Jones joined their father in Albany. A.V. Jones surface geology and seismic paved the way for Jon Rex Jones (Jonny's father) and A.V. Jones, Jr. to discover numerous fields in the area around Albany. Most notable was the N.E. Shakelford field discovered in 1966 shortly after their father's untimely death from spinal meningitis on April 9, 1965. The family company became Jones Company, Ltd. in 1974 and continued to operate in the counties surrounding their Albany, Texas home. Jones Energy, Ltd. was formed in 1988 and is the latest commitment in the family's ongoing history in the energy business.
The family has been very active in many other energy ventures and companies over the last 30 years, including:
Jones Exploration Company (1975-1985)
Gulf Coast exploration company
Closed operations
JM Petroleum (1979-1986)
Oil marketing and transportation company
Sold to Wesray Capital for $70 million
Taurus Energy Corporation (1988-1994)
Natural gas pipeline company
Sold to Coda for $20.5 million
Globex Energy, Inc. (1990-2002)
International exploration company
Sold to Marathon Oil Corporation for $155 million.
EnerVest, Ltd. Management Partners Ltd. (1992 - current)
Buys and operates properties for institutional investors
Currently operates 11,000 wells in 11 states
The family also has numerous interests outside the energy business, including banking, real estate and ranching.