EON Resources Inc. Stock Analysis EONR

EON Resources, Inc. engages in the acquisition, development, exploration, production, and divestiture of oil and natural gas properties in the Permian Basin. The company is headquartered in Houston, Texas and currently employs 7 full-time employees. The company went IPO on 2022-02-11. The firm is focused on the development of onshore oil and natural gas properties in the United States. The company is primarily focused on producing oil and gas properties in the Permian Basin. The Company’s properties are in the Grayburg-Jackson Field in Eddy County, New Mexico, which is a sub-area of the Permian Basin and the South Justis Field Property in Lea County, New Mexico. The firm focuses wholly on vertical development drilling. Its Grayburg-Jackson oil field is a waterflood property and is operated by LH Operating, LLC (LHO). Through LHO, it holds approximately 13,700 contiguous leasehold acres, 342 producing wells and 207 injection wells situated on 20 federal and three state leases in the Grayburg-Jackson Oil Field. The South Justis Field Property is a carbonate reservoir, which consists of approximately 5,360 contiguous acres with 208 combined producing and injection wells with a large spacing of 50 acres.