EON Resources Unveils Revamped Growth Plan with Horizontal Drilling Ambitions
EON Resources Inc., an independent upstream energy company, has reported its 2025 results and made significant strides in transforming its Permian growth plan.
The company recapitalized its balance sheet, restored key infrastructure at the Grayburg-Jackson Field (GJF), and expanded its development inventory. EON also entered into a Farmout Agreement with an experienced horizontal driller, retaining a 35% working interest in the San Andres formation.
The agreement is expected to drive growth through the drilling of up to 92 horizontal wells over several years, with initial production estimates ranging from 300-500 gross barrels per day (BOPD) or approximately 100-200 net BOPD for EON. The first three horizontal wells will be drilled at no cost to the company.
In 2025, EON's revenue declined primarily due to lower oil prices, averaging $63.36 per barrel compared to $76.98 in 2024. Net oil production remained stable year-over-year, with approximately 250,000 barrels produced annually.