EON Resources Inc. Announces Growth Strategy and Capex Funding for 2026-2030

About this update from Eon Resources Inc.

HOUSTON, TX / ACCESS Newswire / June 30, 2026 / EON Resources, Inc. (the "Company" or "EON") (NYSE American:EONR) is an independent upstream energy company with working interest ownership by subsidiaries of the Company in two fields in the prolific Permian Basin in Southeast New Mexico comprised of 20,000 leasehold acres. The fields produce over 1,000 aggregate barrels of oil per day. Today the Company announced its 2026-2030 growth strategy and capital expenditure ("capex") funding. Our corporate Vision is to achieve 10,000 barrels of oil per day ("BOPD") by the end of 2030. In each of the years 2026 - 2030, we plan to add one $30MM to $40MM acquisition per year together with the drilling and completion of as many as 20 new horizontal wells each year in our existing Grayburg-Jackson Field ("GJF") held by LH Operating, LLC ("LHO"), EON's wholly owned subsidiary. Drilling and new completions of the horizontal wells alone should add a net 1,000 BOPD per year to the Company, while acquisitions should add another 1,000 BOPD per year, in this year and each of the next four years. Our farmout of the San Andres formation in the GJF, as previously announced, should generate new horizontal wells this year and during each of the next four years through the end of 2030 contributing a net 1,000 BOPD to the Company in additional production each year. The drilling of the first three wells is at no cost to EON. Funding for Drilling Capex - $25 MM / year LHO has an initial three well carried interest to the tanks under the farmout agreement meaning that LHO has no drilling cost attributable to its interest in those wells. The Company is pursuing and intends to debt finance the subsequent cost of Q4 2026 horizontal drilling after the initial three carried wells. The Company is actively seeking a farmout arrangement with an industry participant in order to develop the South Justis Field ("SJF") covering 5,370 leasehold acres in Lea County, New Mexico held by EON Energy, LLC, a wholly owned Company subsidiary. We are encouraged by our recently completed geologic and engineering studies of the stacked pay present in the SJF. "We believe the South Justis Field has even more favorable horizontal drilling potential than our San Andres formation in the Grayburg-Jackson Field," said Jesse Allen, VP Operations for the Company and LHO. The Company plans to fund long term drilling c...

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