EON Resources Reports Strong 2025 Results, Drives Permian Growth Plan

HOUSTON, September 28, 2026 /CourierPR/ -- EON Resources Inc., an independent upstream energy company with approximately 20,000 leasehold acres in the Permian Basin and approximately 1.2 billion barrels of original oil in place, has reported its 2025 results and outlined plans for continued growth in the region. The company's annual report on Form 10-K for fiscal year 2025 details a year of significant repositioning and investment in the Permian Basin.

In 2025, EON Resources took several key steps to position itself for future growth. The company's recapitalization of its balance sheet, which saw shareholder equity increase by approximately $20 million, was a crucial first step. This was followed by the reduction of notes and similar obligation instruments by $42 million, and the retirement of preferred shares, which eliminated a potential $27 million redemption value. These financial moves were complemented by the acquisition of $13.5 million in a 10% overriding royalty interest in the Grayburg-Jackson Field (GJF).

On September 9, 2025, EON Resources closed a $45.5 million funding transaction. This transaction satisfied $20 million of senior institutional debt, eliminated approximately $700,000 of monthly principal and interest payments, settled a $20 million promissory note for $7 million in cash, retired preferred units with a $27 million redemption value, and funded the acquisition of a 10% overriding royalty interest in the GJF for $13.5 million. The balance-sheet impact was substantial: year-end debt declined to approximately $3.9 million from $48.9 million, while equity attributable to EON increased to approximately $51.2 million from $4.6 million.

The company's growth program in the San Andres formation was also underway. EON Resources entered into a Farmout Agreement with an experienced horizontal driller, retaining a 35% working interest in the San Andres formation. Management expects as many as 92 horizontal wells to be drilled over the next several years. The first three horizontal wells are to be drilled at no cost to EON, with each expected to initially produce 300-500 gross BOPD, which is approximately 100-200 net BOPD to EON.

In conjunction with the September 9th closing, EON Resources also acquired a 10% overriding royalty interest in the GJF, which includes 13,700 contiguous leasehold acres in Eddy County, New Mexico, with stacked pay zones and almost 1 billion barrels of estimated original oil in place. The San Andres horizontal development program commenced in August 2026, with the GJF program anticipated to include 92 wells over approximately four to five years.

Despite lower oil prices, EON Resources maintained stable net oil production, with 246,557 net barrels in 2025 compared to 250,686 in 2024. The main negative item in 2025 was the reduction in the proven GJF waterflood reserves value from the 2024 reserve report. The total reserve value dropped from $207 million at the end of 2024 to $80 million at the end of 2025. Key drivers for the drop were the SEC oil price for 2024 being $77.10, which dropped by $12.56 per barrel to the 2025 SEC oil price of $64.54, the focus on improving required infrastructure versus allocating resources to increasing oil production, and the resulting delay in significant progress in the development plan as anticipated in the 2024 reserve report.

EON Resources' 2025 results were bolstered by the recapitalization and Farmout on September 9, 2025, along with the related instruments and events that drove the overall financial results. Looking behind the numbers, a promising story is apparent for EON Resources. The core numbers for 2025 and 2024 were very similar, as expected based on generally stable production. The main negative item in 2025 was the reduced GJF waterflood program reserve value, but management expects a rebound in the GJF waterflood program reserve value once they re-establish the development activities.

EON Resources' outlook for the remainder of the year is for continued stable production from its two core properties. Both production and reserves will begin to grow in the fourth quarter of 2026, as the first horizontal wells in the San Andres interval are drilled and come online.

In summary, EON Resources has reported a year of repositioning and growth in the Permian Basin, with the company's balance sheet strengthened, infrastructure restored, and a promising San Andres horizontal drilling program underway. The company's financial performance and outlook indicate a positive trajectory for the future.