EON Resources Plans $100M Raise for 92 Wells to Boost Output to 2,500 bpd
EONR•EON Resources holds 20,000 Permian Basin acres with 750 wells producing over 1,000 barrels per day and plans to raise $100 million for a 92-well drilling program, idle well reactivations, and 150 new waterflood patterns. The company forecasts boosting output to 2,500 barrels of oil per day within one year.
1. Conference Presentation Details
EON Resources will present at Planet MicroCap Las Vegas 2026 on June 17 at Bellagio Resort & Casino, with CEO Dante Caravaggio and CFO Mitchell B. Trotter hosting a live webcast. Management will outline strategic plans and answer investor questions during the session.
2. Capital Raise and Drilling Program
The company is actively pursuing up to $100 million of direct investments to fund a 92 horizontal well drilling program in the Permian Basin, alongside reactivating idle wells at South Justis. This financing aims to accelerate development and support expansion of existing assets.
3. Production Growth Plan
EON operates 20,000 leasehold acres with 750 producing and injection wells yielding over 1,000 barrels per day. It expects new drilling, well reactivations, and 150 waterflood patterns at Grayburg-Jackson to raise production to 2,500 barrels per day within the next year.
