EON Resources Inc. has announced a significant acquisition through its wholly owned subsidiary, EON Energy, LLC. On June 20, 2025, EON Energy entered into a Purchase and Sale Agreement to acquire a 94 percent working interest in the South Justis Field located in the Permian Basin in Lea County, New Mexico, from WPP NM, L.L.C. and Northwest Central, L.L.C. The acquisition involves the exchange of 1.0 million Class A common shares of EON, with no cash consideration or debt involved. The South Justis Field is currently producing 108 barrels of oil per day from 19 actively producing wells, contributing an estimated $1.2 million in net annual cash flow. The acquisition is set to be effective from June 1, 2025.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. EON Resources Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 1042387) on June 24, 2025, and is solely responsible for the information contained therein.