EON Resources targets 13 million barrels recoverable from South Justis Unit horizontal drilling plan

EON Resources released an engineering and petrophysics study outlining horizontal drilling potential in the South Justis Unit in Lea County, New Mexico.

• Development concept targets 21 horizontal wells in the Yeso formation’s Blinebry interval, with estimated recoverable reserves of 13 million barrels.
• Peak output projected at 10,000 barrels of oil per day in 2028; average estimated ultimate recovery of 650,000 barrels per well.
• Per-well capital estimated at USD 4.7 million; expected initial production of 700-1,100 barrels of oil per day per well.
• Development decision pending on self-funding versus a farmout partner; start targeted for 2027.