EONR · EON Resources Inc.

EON Resources Inc. disclosed unaudited preliminary FY2025 results impacted by lower oil prices, with revenues declining to $17 million from $19 million in 2024 despite stable net oil production of 250K barrels, as average realized prices fell $13 per barrel. Hedging softened the impact, covering 75% of current production through 2027 to offset lifting costs, while new output remains unhedged to benefit from 2026 price recovery. Operating expenses showed mixed trends: LOE rose slightly to $8.9 million from $8.6 million due to half-year South Justis Field operations, but GJF LOE dropped $500K; recurring G&A fell to $7 million from $8 million via cost reductions in audit, legal, consulting, and insurance. Interest expense decreased $7.6 million post-debt retirement, with a $13.9 million gain on asset sale and debt forgiveness from the September 9 recapitalization that eliminated $41 million debt and $27 million preferred shares. Balance sheet strengthened with senior debt retired and private loans reduced to $2.3 million. Management highlights operational stability at ~1,000 gross BOPD and upside from San Andres farmout: 5 vertical recompletions by June, first 3 horizontals adding 500 net BOPD mid-2026, and 10 more for 1,000 net BOPD by year-end, plus South Justis potential. Conference call on April 28, 2026, at 2:30 p.m. ET to review.