EON Resources completes South Justis Field acquisition in Q2

On June 20, 2025, EON announced its acquisition of the South Justis Field in the Permian Basin. Since acquiring the field, the production has remained stable at over 100 BOPD from 19 actively producing wells. The Company plans to return an additional 30 wells to production over the next year, and is adding a second well service rig to the SJF to return down wells to production. The production from the reactivated wells is expected to average 5-10 BOPD per well, yielding field wide production of 250 to 400 BOPD. The SJF is expected to initially produce approximately $100K of cash from the operations, and increase as new wells are reactivated. In February 2025, EON announced its horizontal drilling program, which identified 50 well locations to be drilled over several years. “Our horizontal drilling program is on schedule to commence during the first quarter of 2026,” said Dante Caravaggio, President and CEO of the Company. “Initial and preliminary engineering and construction work has begun in the current quarter and will be completed by year-end. Each well is expected to produce 300 to 400 BOPD.”