EON Resources Inc.

EON Resources, Inc. (NYSE American: EONR) is an exploration and production company focused on developing oil and gas properties in the Permian Basin. The company operates through its wholly owned subsidiary, LH Operating LLC, and maintains its principal offices in Dallas, Texas, with a field office in Loco Hills, New Mexico.

EON's core business involves exploring for, drilling for, and producing crude oil and natural gas from working interests in the Northwest Shelf of the Permian Basin. As of December 31, 2024, the company owns a 100 percent working interest in approximately 13,700 gross acres located in Eddy County, New Mexico, specifically within the prolific Grayburg-Jackson Field. The company's leasehold position is held by production, meaning it faces no time-sensitive drilling obligations and can develop reserves at its discretion.

The company's production profile is heavily weighted toward crude oil, representing approximately 86 percent of output, with natural gas comprising the remaining 14 percent. As of December 31, 2024, average net daily production was 811 barrels of oil equivalent per day. EON's estimated proved reserves totaled 14,492 million barrels of oil equivalent, with approximately 28 percent classified as proved developed producing reserves, 42 percent as proved developed non-producing reserves, and 30 percent as proved undeveloped reserves.

EON operates 342 shallow vertical wells producing oil and gas in paying quantities across its leasehold. The company has identified 127 additional proved developed non-producing well patterns available for development and 43 proved undeveloped well patterns. EON's development strategy emphasizes low-cost workovers through perforation additions in previously drilled wells, with estimated completion costs of approximately $339,252 per proved developed non-producing pattern and $1,187,698 per proved undeveloped pattern.

The company maintains a staff of 12 employees, including five executive officers and seven field personnel. EON's business model generates strong operating margins exceeding 60 percent through disciplined development of its low-risk, predictable reserves. The company pursues a strategy of acquiring additional working interests in the Permian Basin and other oil-producing regions that meet its investment criteria for minimum risk, geologic quality, operator capability, and attractive rates of return.