Eon Resources Inc. · AMEX:EONR
Eon Resources — Investor Presentation (April 2025)
31 slides from Eon Resources's investor presentation, Apr 22, 2025
Slide 1: EON Resources Inc. Corporate Slide Presentation April 2025
EON Resources Inc. NYSE American: EONR Corporate Slide Presentation April 2025
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 othe
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, belief
Slide 4: Investment Highlights
Investment Highlights Plentiful Asset: 956 million barrels of OOIP – expect to triple proven reserves in next 3 - 4 years Increasing Production: Production expected to increase by 1,000 bbl/day in next 24 months Operation Excellence: Strategy to reduce lifting costs Capital Efficient: Oil Rich + Wat
Slide 5: EON Oil Potential is Huge
EON Oil Potential is Huge The oil and gas quantities of the original - oil - in - place (“OOIP”), reserves and potential recovery are all based on reports and letters from our third - party engineering firm William M. Cobb & Associates, Inc. Specifically, the reserve report as of December 31, 2024 d
Slide 6: Growth Strategy
Growth Strategy
Slide 7: Five Strategic Priorities
Five Strategic Priorities Build Team and Public Company Build Team and Public Company Optimize Production Optimize Production Reduce Operating Cost Reduce Operating Cost Enhance Capital Efficiencies Enhance Capital Efficiencies Build a Portfolio of Energy Assets Build a Portfolio of Energy Assets Ex
Slide 8: The Team
The Team Dante Caravaggio CEO & Director Mitchell B. Trotter CFO & Director David M. Smith, Esq. VP, General Counsel Jesse J. Allen VP of Operations • 40+ years of experience in the oil and gas industry. • Executive and program management positions with Kellogg Brown and Root, Parsons Corp, Jacobs E
Slide 9: Optimizing Production
Optimizing Production • What was done? • Predecessor transitioned to a waterflood approach in the Seven Rivers zone in 2020 and increased production to 1,400 BOEPD over a two - year period • Due to lack of cap - ex and attention, the production stabilized and then dropped to 900 BOEPD over the 1 ½ y
Slide 10: Reducing Costs
Reducing Costs • The management and field leadership team are on an on - going basis, reviewing areas to identify where we can: enhance maintaining of the field; reduce lift and cap - ex expenditures; and increase production • Using a scientific and analytical approach is expected to reduce workover
Slide 11: Responsible use of Capital Spend
Responsible use of Capital Spend • The Grayburg - Jackson oil field has 550 existing wells that can be utilized to recover proven reserves without new drilling, and hence significant upfront capital spend can be avoided • The team of petroleum engineers and geologists are studying well responses to
Slide 12: Industry and Acquisition Strategy Overview
Industry and Acquisition Strategy Overview • EON is an independent energy company with an acquisition and value creation strategy focused on building a company in the energy industry in North America that complements the experience of our management team and can benefit from our operational expertis
Slide 13: The Property
The Property
Slide 14: Grayburg-Jackson Oil Field Overview
• The first acquisition was the Grayburg - Jackson oil field which is a waterflood property operated by the EON subsidiary LH Operating, LLC (“LHO”) • The property is located on the Northwest Shelf of the Permian Basin which according to the U.S. Geological Survey contains the largest recoverable re
Slide 15: Permian Basin – Most Promising Oil Reserves in the U.S.
Anadarko, 6,587 , Appalachia, 35,953 , 36% Bakken, 3,392 , 3% Eagle Ford, 7,508 , 7% Haynesville, 16,559 , 17% Niobrara, 5,193 , 5% Permian, 24,745 , 25% Permian Basin – Most Promising Oil Reserves in the U.S. • Contributes 62% of the total oil output of the U.S. • Contribute 25% to the overall gas
Slide 16: Seven Rivers (7R) – Development History
10 100 1,000 10,000 10 100 1,000 10,000 1945 1950 1955 1960 1965 1970 2000 2005 2010 2015 2020 Seven Rivers (7R) – Development History Depositional Setting LH Operating Regional Setting GYBG - JACKSON 120 MMBO Cum MALJAMAR 140 MMBO Cum VACUUM 631 MMBO Cum LH Operating Gross Oil (BOPD) Gross Well Cou
Slide 17: Seven Rivers (7R) Waterflood Development
Seven Rivers (7R) Waterflood Development 7R Waterflood Development Pilot Response Starts Early 2020 Current 7R Waterflood Response • LH Operating’s 7R WF work began late 2019 in the H E West B 4 - pattern pilot with initial production response in February 2020 • 95 patterns have been brought online
Slide 18: Regulatory Production Pool: 7R-Q-GB-SA
Regulatory Production Pool: 7R - Q - GB - SA Approx. Regional Thickness (ft) Formation Epoch Period 200 - 400 Dewey Lake Ochoan Permian 100 Rustler 1,000 Salado 200 Tansil Guadalupian 200 Yates 500 Seven Rivers 200 - 500 Queen 300 Grayburg 1,500 San Andres 100 Glorieta Leonardian 1,500 Paddock Yeso
Slide 19: Waterflood Operations – Creating a Steady Revenue Stream
Waterflood Operations – Creating a Steady Revenue Stream • The waterflood process uses the injection of water into an oil - bearing reservoir for pressure maintenance to stimulate oil flow through the rock to the producing well for oil and gas recovery • A waterflood property has long - lasting, low
Slide 20: Land and Ownership Overview
• ~13,700 gross acres • 23 Leases (20 BLM and 3 State leases) • 100% WI with 74% average NRI • 100% Operated and 100% HBP • Original Oil in Place is 876,159,746 barrels of oil • Title opinion coverage on 97% of PDP PV10 value BLM and NM State Leases Title Opinion Coverage BLM Leases NM State Leases
Slide 21: The Oil Field
The Oil Field • The oil field has several large reservoir structures. The EON intervals range from as shallow as 1,500 feet deep to 4,000 feet deep • The EON field has attainable proven reserves of approximately 20 million gross barrels of crude oil and 5 billion cubic feet of natural gas • Original
Slide 22: Financials
Financials
Slide 23: Financials – Income Statement Summary
Financials – Income Statement Summary • Revenues generated from cash was approximately $5.0 million plus per quarter. Derivatives had a non - cash expense impact on revenues as described on another slide • G&A were impacted by professional fees and equity - based costs as described on another slide
Slide 24: Cash Revenues Averaged $5 Million per Quarter
Cash Revenues Averaged $5 Million per Quarter • Oil revenues were impacted by: • Production was stable for the year • Average oil sold price per barrel fluctuated by quarter driving the changes by quarter • Our hedge position was over 70% and $70 for 2024 • Derivatives impact is mostly a non - cash
Slide 25: General and Administrative (G&A) Cost Summary
General and Administrative (“G&A”) Cost Summary • Equity based costs of $2.8 million included in G&A are comprised of: • Employee related equity instruments: $700K • Acquisition related costs and fees via equity: $1.6 million • Stock in lieu of A/P and liabilities: $500K • Professional fees for lega
Slide 26: Non-Cash Expenses
Non - Cash Expenses 1. Hedging derivatives : Driven by oil prices at end of each quarter 2. G&A : includes non - cash equity costs of: fees & liabilities paid in equity of $2.1 million; and $700K of employee related expenses 3. Warrant liability : changes based on stock price at end of quarter 4. De
Slide 27: Debt Structure as of December 31, 2024
Debt Structure as of December 31, 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 $
Slide 28: Equity Structure as of December 31, 2024
Equity Structure as of December 31, 2024 • Common stock : There were 10 million shares of Class A common stock and 500K 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 • Preferred s
Slide 29: Final Words
Final Words
Slide 30: Investment Highlights
Investment Highlights Plentiful Asset: 956 million barrels of OOIP – expect to triple proven reserves in next 3 - 4 years Increasing Production: Production expected to increase by 1,000 bbl/day in next 24 months Operation Excellence: Strategy to reduce lifting costs Capital Efficient: Oil Rich + Wat
Slide 31: Thank you for your interest in EON
Thank you for your interest in EON