Welcome to our dedicated page for EON Resources news (Ticker: EONR), a resource for investors and traders seeking the latest updates and insights on EON Resources stock.
EON Resources Inc. (EONR) delivers oil and natural gas production through advanced operational strategies in the Permian Basin. This news hub provides investors with essential updates on field developments, production enhancements, and strategic initiatives.
Access authoritative coverage of earnings reports, infrastructure projects, and reservoir management techniques. Track material events including asset acquisitions, technology deployments, and regulatory filings that shape the company's upstream operations.
Our curated collection features press releases on waterflood optimization programs, horizontal drilling results, and production cost management. Stay informed about operational milestones through verified updates on chemical stimulation treatments and facility upgrades.
Bookmark this resource for centralized access to EONR's evolving strategy in one of North America's most active energy regions. Return regularly for unfiltered updates directly impacting the company's operational performance and market position.
EON Resources (NYSE: EONR) reported its fiscal year 2024 results, achieving total revenue of $19.4 million with stable oil production of 950 barrels per day. The company secured an agreement with Pogo Royalty to eliminate $40 million in debt through a $22 million cash payment and 3 million shares issuance.
Key financial highlights include $6.5 million income from operations and reduced lease operating expenses to $700K monthly. The company signed a Letter of Intent with Enstream for $52.8 million in volumetric funding. A horizontal drilling program study identified 50 well locations with potential for 20 million untapped oil barrels, with drilling planned for Q1 2026.
The company reported $10.4 million in G&A costs and $8.7 million in interest expenses. Production is now 70% hedged at $70.00 per barrel or greater for 2025. Infrastructure improvements included $6.0 million in capital expenditures for water, flowline repairs, and system upgrades.
EON Resources (NYSE American: EONR), an independent upstream energy company focused on oil and gas operations in the Permian Basin, has announced the publication of its updated investor presentation and fiscal year 2024 earnings call materials on its corporate website. The presentation decks are now available for viewing at the company's online presentation portal.
EON Resources Inc. (NYSE American: EONR), an independent upstream energy company focused on oil and gas properties in the Permian Basin, has announced its upcoming fiscal year 2024 earnings call scheduled for April 23, 2025, at 12:00 p.m. EST.
The conference call will feature CEO Dante Caravaggio, CFO Mitchell B. Trotter, and VP of Operations Jesse Allen, who will review the company's financial results, discuss achievements from their first year as a public operating company, and outline operational plans for 2025 and beyond. A Q&A session will follow.
Shareholders can access the live broadcast via audio webcast on the EONR website, with the earnings call deck to be posted prior to the event. The company has provided both toll-free and international dial-in numbers, with replay options available for those unable to attend the live call.
EON Resources Inc. (NYSE:EONR), an independent upstream energy company operating in the Permian Basin, has announced its oil price hedging strategy through the end of 2025. The company has hedged approximately 70% of its oil production at prices ranging from $70.10 to $70.50 per barrel for the next 9 months.
This strategic hedging program aims to protect the company from market volatility, particularly in light of recent oil price fluctuations attributed to Saudi Arabia's expected increase in oil production. According to CFO Mitchell B. Trotter, while the current oil price volatility is not expected to persist long-term, these hedging measures will help safeguard the company's financial results.
EON Resources Inc. (NYSE:EONR) has signed an expanded non-binding LOI with Enstream Capital Management for a $52.8 million revenue sharing and volumetric funding arrangement, expected to close by June 2025.
The funding will be allocated as follows:
- $22 million for Seller consideration, generating ~$40 million in net shareholder value
- $21 million to pay off the senior reserve-based loan
- $9.8 million for workovers of up to 45 wells on 13,700 leasehold acres in Eddy County, New Mexico
The volumetric funding arrangement offers several advantages: improves monthly cash flow by $250,000, eliminates stock dilution, reduces balance sheet debt by $40 million (>$2.00/share), provides oil price risk protection, and includes an ORRI buyback option. The company plans to commence a horizontal drilling program in the San Andres interval in Q1 2026.
EON Resources Inc. (NYSE American: EONR), an independent upstream energy company focused on oil and gas operations in the Permian Basin, announced on March 12, 2025, that its Chairman and CEO has issued a letter to shareholders regarding current business activities and plans. The letter has been made available on the company's website under the Governance section of the Investor Relations page at www.EON-R.com.
EON Resources Inc. (NYSE:EONR) has completed a preliminary assessment of horizontal drilling potential in the lower San Andres reservoirs at its Grayburg-Jackson Field in Eddy County, New Mexico. The assessment reveals potential recovery of 20 million barrels of oil and 16 billion cubic feet of natural gas, supplementing current waterflood program reserves of 15 million barrels of oil.
The study, covering approximately 13,700 acres, suggests optimal exploitation through 5,000-foot horizontal wells. Based on analog field data, each well could yield an average initial production of 436 BOPD and estimated ultimate recovery of 397,000 barrels per well. With a typical well cost of $3.75 million, breakeven requires 156,000 barrels.
The company has identified 50 well locations with projected metrics including: ROI of 3.3x, IRR of 120.1%, and discounted cash flow at 10% of $6.60MM. EON plans to permit 12 San Andres horizontal drilling locations in late 2025 or early 2026.
EON Resources Inc. (NYSE American:EONR) has announced a significant balance sheet restructuring agreement with Pogo Royalty, The deal includes retiring a $15 million promissory note, purchasing a 10% Overriding Royalty Interest (ORRI) in the company's oil field property, and repurchasing 100% of preferred units in EON's subsidiary.
The total consideration comprises $22 million in cash and 3 million shares of EON's Class A common stock. The agreement must close within 120 days and is subject to securing adequate financing. The restructuring is expected to reduce liabilities by approximately $18 million in principal and accrued interest, decrease preferred units redemption value by $24 million, and acquire an ORRI valued at $14 million currently generating about $200,000 monthly.
EON Resources (NYSE American:EONR) has signed a non-binding Letter of Intent with Enstream Capital Management for $22.5 million in well completion funding. The funding will support the development of 45 wells through low-cost workovers on EON's 13,700 leasehold acres in Eddy County, New Mexico. The funding structure is similar to a term overriding royalty interest and is neither debt nor equity. The company aims to increase gross oil production by 1,000-2,000 BOPD over the next 12 months. EON's property contains over one billion barrels of original oil in place across 549 wells, with production expected to begin in Q1 2025.
EON Resources Inc. (NYSE American:EONR) has announced the postponement of its 2024 Annual Meeting of Stockholders from November 25, 2024, to December 10, 2024, at 2:30 p.m. Eastern Time due to insufficient quorum. While the majority of received votes favor all proposals, more stockholder participation is needed. The meeting will be held via webcast, with November 7, 2024, remaining as the record date. Previously submitted votes remain valid unless changed. The company urges stockholders who haven't voted to do so before December 9, 2024, at 11:59 p.m. Eastern Time to help reduce meeting-related costs.
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