EON Resources Inc. Reports Results for the Fiscal Year 2024 Position the Company for Future Growth

About this update from Eon Resources Inc.

HOUSTON, TEXAS / ACCESS Newswire / April 23, 2025 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is an independent upstream energy company with oil and gas properties in the Permian Basin. Today, the Company reports revenue and earnings for the fiscal year 2024. Fiscal 2024 was a year when the management and field teams made huge strides to upgrade the operational condition of the field; stabilize production rates, which had declined by the time the Company closed on the acquisition of LH Operating, LLC (the "Acquisition"); and resolve Acquisition related issues. The Company believes it is now in a position for growth with a bright future ahead. Key actions since the Acquisition that position the Company for a profitable future: Financial highlights for the fiscal year ended December 31, 2024: "Our team has spent the past year working on the infrastructure of our field, modernizing the Grayburg-Jackson field and making it vertically integrated. We believe it's now prepared to grow and sustain profitability for many years to come. The foundation has been laid and now it is time to begin our growth," said Dante Caravaggio, President and Chief Executive Officer. "We continue to see the potential of the Seven Rivers waterflood. We see as much, or more, potential from horizontal drilling in the San Andres, which is expected to start in Q1 of 2026. The permitting of such wells and sourcing of a horizontal drilling partner for them is underway." "Behind the scenes, we had a team using technology and science to analyze well logs and prior results to assist in increasing production and identifying the best pay in the Seven Rivers. This team also produced a study for a horizontal drilling program in the San Andres interval, which has significant potential for 2026 and beyond," said Jesse Allen, Vice President of Operations. "We also rolled out the use of an AI application for our operators to improve efficiencies and increase production. And we are exploring innovative processes for well recompletions and stimulations to lower the cost of workovers." "It is very rewarding to see how the hard efforts of the field operations team have stabilized the field while reducing operating expenses," said Mitchell B. Trotter, CFO. "The management team also made good pro...

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