EON Resources FY2024 revenue $19.4M; enters deal to eliminate ~$40M debt with Pogo Royalty

EON Resources Inc.

2025-Q1 EPS reported -$0.11 vs consensus -$0.21 ▲ beat (+48.6%)

FY2024 revenue $19.4M (incl. -$850K hedging); income from operations $6.5M; G&A $10.4M (incl. $1.6M non-cash, $1.4M legal/audit).
Agreement with Pogo Royalty to eliminate ~$40M debt: $22M cash + 3M shares for 10% royalty interest; closing expected by June 2025.
Signed non-binding LOI with Enstream for $52.8M VMA to fund seller consideration, field development, and retire senior debt.
Horizontal drilling study in San Andres identified 50 locations; each well ~$3.7M, 300-400 BOPD; start Q1 2026.
Senior debt reduced from $28M to ~$23M; FPA terminated; short-term loans converted to long-term Convertible Notes.

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