Slide 1: EON Resources Inc. Conference Call – November 2024
EON Resources Inc. Conference Call – November 2024 NYSE American: EONR https://www.EON-R.com/
Slide 2: Disclaimer
Disclaimer • This presentation of EON Resources Inc. (“EON” or the “Company”) shall not constitute a “solicitation” as defined in Rule 14a-1 of the Securities Exchange Act of 1934, as amended. • This presentation is not an offer, or a solicitation of an offer, to buy or sell any investment or other
Slide 3: Disclaimer – Forward-Looking Statements
Disclaimer • Forward-Looking Statements • Statements in this presentation which are not statements of historical fact are “forward-looking statements”. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, inte
Slide 4: Presenters
Presenters • Michael J. Porter – Investor Relations • Dante V. Caravaggio – CEO • Mitchell B. Trotter – CFO • Jesse J. Allen – VP of Operations 4
Slide 5: Chief Executive Officer Comments
Chief Executive Officer Comments • Opening remarks • Want to hear from you on your interest and feedback • Deck is a guideline for discussion purposes • Ask questions as we go along • Overview of the field • Path to date • Observations at closing 5
Slide 6: The Oil Field
The Oil Field • The oil field has several large reservoir Approx. Regional structures. The EON intervals range from as Period Epoch Formation Thickness (ft) shallow as 1,500 feet deep to 4,000 feet deep Dewey Lake 200-400 Ochoan Rustler 100 Salado 1,000 • The EON field has attainable proven reserves
Slide 7: Path to Date
Path to Date Became public Name change Incorporated company with to EON in Delaware first acquisition Resources Inc. on December on November 15, on September 9, 2020 2023 18, 2024 SPAC IPO was 1Q-Q2-24 3Q-Q4-24 effective on Evaluate the Ramp up February 10, producing wells production from 2022 to in
Slide 8: Chief Financial Officer Comments
Chief Financial Officer Comments • Q3 results • Equity structure • Debt structure • Information on the following slides are in Corp Deck slides 25 to 29 8
Slide 9: Financials – Income Statement Summary
Financials – Income Statement Summary Q1 Q2 Q3 YTD Revenues 3,283,099 5,060,795 7,364,346 15,708,239 Operations expenses 3,236,877 3,066,234 3,144,277 9,447,388 General and administrative 2,309,824 2,323,662 2,235,263 6,868,748 Operating income (2,263,601) (329,101) 1,984,806 (607,897) Other income
Slide 10: Revenues – $5 MM+ per Quarter of Cash Generated
Revenues – $5 MM+ per Quarter of Cash Generated Q1 Q2 Q3 YTD Oil 4,971,150 4,885,959 5,275,254 15,132,363 Gas 178,608 128,084 89,978 396,670 Other 130,588 130,230 98,452 359,271 Without derivatives 5,280,347 5,144,273 5,463,684 15,888,303 Derivatives (1,997,248) (83,478) 1,900,661 (180,064) Total re
Slide 11: Non-Cash Expenses
Non-Cash Expenses Q1 Q2 Q3 YTD Revenues without derivatives 5,280,347 5,144,273 5,463,684 15,888,303 1. Hedging derivatives: Driven by oil prices at end of each quarter 1 Gain (loss) on derivative instruments (1,997,248) (83,478) 1,900,661 (180,064) Total revenues 3,283,099 5,060,795 7,364,346 15,70
Slide 12: Equity Structure as of September 30, 2024
Equity Structure as of September 30, 2024 • Common stock: There were 7.0 million shares of Class A common stock and 1.4 million shares of Class B common stock outstanding. • The Class B common stock has voting rights only and can be converted on a one-for-one basis for Class A common stock • Preferr
Slide 13: Debt Structure as of September 30, 2024
Debt Structure as of September 30, 2024 • Reserve Based Loan (“RBL”): First International Bank & Trust (“FIBT”) provided at $28 million RBL at acquisition closing. • The debt has a five-year amortization schedule with maturity in three years, and an interest rate of 15 percent. • The balance was $25
Slide 14: VP of Operations Comments
VP of Operations Comments • Safety – No reportable incidents • Actions to increase production • Actions to reduce costs 14
Slide 15: Actions to Increase Production
Actions to Increase Production • Follow the science to analyze the producing wells • Analysis indicates oil not included in the Cobb report • Chemical acid treatment program to clean wells and recover production • Continuing to upgrade infrastructure • Perform recompletions on the next 20 wells in t
Slide 16: Actions to Reduce Costs
Actions to Reduce Costs • Upgraded flowlines that will reduce costs by $30K per month • Satellite test stations improved to optimize operations • Implementing state-of-the-art AI automation software • Internalized equipment to reduce costs by $10K per month • Expecting to reduce workover cost per we
Slide 17: Questions & Thank You for Attending
Questions & Thank You for Attending NYSE American: EONR https://www.EON-R.com/