EON closes $45.5M funding, retires $19.3M senior debt, signs San Andres farmout

EON Resources Inc.

Raised $45.5M via 15% perpetual ORRI in GJF ($20M) and 5% ORRI in San Andres ($20.5M) plus $5M from Virtus for farmout.
Used $20.5M to settle seller obligations ($13.675M cash + $7M note) + issued 1.5M shares; retired $19.3M senior debt.
Virtus to drill up to 90 horizontal San Andres wells; EON retains 35% non-op WI; first 3 wells mid-2026.
Virtus estimates $95M+ net PV-10 reserves to EON; cumulative capex >$300M; anticipated 7,000 BOPD net.
Board approved $825k total cash bonuses + 825k restricted stock to officers/directors, subject to stockholder approval.

item 1.01item 3.02item 5.02item 7.01item 2.02item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.