HOUSTON, TEXAS / ACCESS Newswire / June 24, 2025 / EON Resources, Inc. (NYSE American) (EONR or "the Company") is an independent upstream energy company with oil and gas properties in the Permian Basin. Today the company announced it will hold a special conference call to update and educate investors regarding the recent acquisition of the South Justis Field in the Permian Basin in Lea County, NM by EON Energy, LLC, its wholly owned subsidiary. Among the topics to be discussed are production, producing zones, cash flow, plans for the remainder of the calendar year and future expansion.
On June 20, 2025, EON announced its wholly owned subsidiary, EON Energy, LLC, entered into a Purchase and Sale Agreement with WPP NM, L.L.C. and Northwest Central, L.L.C. to acquire all of their respective interests in the South Justis Field located in the Permian Basin in Lea County, New Mexico. The Company will exchange 1.0 million Class A common shares of EON without any cash consideration or debt for EON Energy, LLC to acquire a 94 percent working interest in the South Justis Field. With the estimated $1.2 million in net annual cash flow, the transaction is expected to be accretive; the effective date of the acquisition is June 1, 2025.
South Justis is currently producing 108 barrels of oil per day ("BOPD") from 19 actively producing wells, which adds $1.2 million in net cash flow annually with minimal impact to the EON'S G&A costs. The property includes 5,360 leasehold acres with a total of 208 wells - half are oil-producing, half are water injection wells.
Dante Caravaggio, President and CEO will chair the call; Mitchell B Trotter, CFO, and Jesse Allen, VP of Operations, will also speak with investors and answer questions.
To Listen to a live broadcast: To listen to a live broadcast, visit the website at least 15 minutes prior to the scheduled start to register to download and install any necessary software. An audio webcast of the conference call will be available within two hours of the call.
Information Deck: An information deck about the field will be posted to the EON website prior to the call.
Field Call Webpage: information, webcast, telephone access and replay (EON Events).
Webcast URL: (replay expires Friday, June 26, 2026)
https://www.webcaster4.com/Webcast/Page/2999/52667
Telephone access:
Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 396842
Teleconference Replay Number:
Toll Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 52667
Expires July 10, 2025
About the Grayburg-Jackson Oil Field Property
In November 2023, the Company acquired LH Operating, LLC ("LHO"), including its holdings in New Mexico of oil and gas waterflood production comprising 13,700 contiguous leasehold acres, 342 producing wells and 207 injection wells situated on 20 federal and three state leases in the Grayburg-Jackson Oil Field. The Grayburg-Jackson Oil Field is located on the Northwest Shelf of the prolific Permian Basin in Eddy County, NM.
Leasehold rights of LHO, now a wholly owned subsidiary of the Company, include the Seven Rivers, Queen, Grayburg and San Andres intervals - these intervals range from as shallow as 1,500 feet to 4,000 feet in depth. The December 2023 reserve report from our third-party engineer, William H. Cobb and Associates, Inc. ("Cobb"), confirms LHO has proven reserves of approximately 15.4 million barrels of oil and 3.5 billion cubic feet of natural gas. The mapped original-oil-in-place ("OOIP") in the LHO leasehold is approximately 876 million barrels of oil in the Grayburg and San Andres intervals and 80 million barrels in the Seven Rivers interval, for a total OOIP of approximately 956,000,000 barrels of oil.
Our primary production is currently from the Seven Rivers Zone. In addition to proven reserves, the Company believes it may access an additional 34 million barrels of oil by adding perforations in the Grayburg and San Andres formations. With proven oil reserves of over 15 million barrels, combined with the potential 34 million additional barrels from the Grayburg and San Andres zones, LHO should produce oil and a revenue stream for more than two decades with a slow decline rate.
About EON Resources, Inc.
EON is an independent upstream energy company focused on maximizing total returns to its shareholders through the development of onshore oil and natural gas properties in the United States. EON's long-term goal is to maximize total shareholder value from a diversified portfolio of long-life oil and natural gas properties built through acquisition and through selective development, production enhancement and other exploitation efforts on its oil and natural gas properties.
EON's Class A Common Stock trades on the NYSE American (NYSE American:EONR) and our public warrants trade on the NYSE American (NYSE American:EONR WS). For more information on EON, please visit the company's website: https://eon-r.com/
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," "may," "might," "plan," "possible," "should" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company's management's current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Important factors - including the availability of funds, the results of financing efforts and the risks relating to our business - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on EDGAR (see www.edgar-online.com) and with the Securities and Exchange Commission (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations
Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
mike@plrinvest.com
SOURCE: EON Resources Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/eon-resources-inc.-announces-special-conference-call-thursday-june-26-2025-at-10-1042387
