EON Resources reports Q1 revenue $4.6M, up $850,000 from Q4

“EON is continuing to take action to reduce costs amid a challenging operating environment. EON’s actions to improve its operating costs structure through transformation producing oil plans are expected to aid our reaching profitability in 2025,” said Dante Caravaggio, President and CEO. “The team has made tremendous progress in upgrading our infrastructure and modernizing the field that has been restricting production. We continue to see the potential of the Seven Rivers waterflood as the field team has commenced the fracing of several wells with good results, and we have re-started acid treatments with an improved formula, which shows promising results. We see as much, or more, potential from horizontal drilling in the San Andres, which we expect to commence in Q1 of 2026. The permitting of such wells and sourcing of a horizontal drilling partner for the San Andres development is underway now.”