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EON Resources Inc. Announces Results for the Second Quarter of 2025
HOUSTON, TX / ACCESS Newswire / August 19, 2025 /EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is independent upstream energy company with 20,000 leasehold acres comprised of two fields in the Permian Basin in southeast New Mexico. ...
About this update from Eon Resources Inc.
[{"type":"text","content":"HOUSTON, TX / ACCESS Newswire / August 19, 2025 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is independent upstream energy company with 20,000 leasehold acres comprised of two fields in the Permian Basin in southeast New Mexico. The fields have a total of 750 producing and injection wells producing over 1,000 barrels of oil per day. Today, the Company reports revenue and earnings for the second quarter of 2025.","length":457,"tagName":"p"},{"type":"text","content":"Positioned to Retire Senior Debt and Seller Settlement: Favorable funding arrangements expected to close in September creating $40 million in shareholder value.","length":160,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"The Company entered into an agreement (as amended, the "Seller Agreement") with Pogo Royalty, LLC ("Seller"), which, when closed, will result in: (i) the restructure of the Company's balance sheet, eliminating approximately $40 million in debt and obligations, and (ii) the purchase of a 10% Overriding Royalty Interest in all of the Company's oil and gas properties in the Grayburg-Jackson Field. The closing is expected to occur in September 2025 and consideration to Seller is agreed to be $20.5 million in cash and the issuance of 1.5 million shares of the Company's Class A common stock. The summary of the Agreement with Seller can be found in the Press Release on the Seller Agreement as Amended on the Company's website.","length":764,"tagName":"p"}]},{"val":[{"type":"text","content":"EON signed an expanded non-binding Letter of Intent ("LOI") with Enstream Capital Management, LLC ("Enstream") concerning a volumetric funding arrangement ("VMA") and revenue sharing for $52.8 million. EON expects to use the funds for the consideration to Seller under the Seller Agreement, as well as for field development and retirement of senior debt. A summary of the Enstream LOI Press Release is available on the Company's website. We expect to close this transaction in September 2025.","length":526,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1290,"olType":false},{"type":"text","content":"Advancing Horizontal Drilling Program: EON expects to drill up to 90 wells over a three to four year program potentially increasi...