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EON Resources Inc.(EONR) - 2024 Q4 - Annual Report
2025-04-15 22:14
Production and Revenue - For the year ended December 31, 2024, the average daily production was 798 BOE per day, a decrease of 22% from 1,022 BOE per day in 2023[333]. - Oil production for the year ended December 31, 2024, was 256 MBbl, down 27% from 349 MBbl in 2023, while natural gas production decreased from 355 MMcf in 2023 to 213 MMcf in 2024[347]. - Total revenues for the year ended December 31, 2024, were $19,418,919, a 15% decrease from $24,238,482 in 2023, primarily due to a 28% decrease in production volumes[346]. Pricing and Costs - The average realized oil price per barrel after reflecting settled derivatives was $73.61 for the year ended December 31, 2024, compared to $69.06 for 2023, reflecting a 6% increase[340]. - The company's oil price differential to the NYMEX benchmark was $(1.03) per barrel in 2024, an improvement from $(4.95) per barrel in 2023[335]. - Lease operating expenses for the year ended December 31, 2024, were $8,614,080, with a per BOE increase of 19% to $29.59 due to higher maintenance and labor costs[351]. - Production taxes, transportation, and processing costs were $1,715,792 for 2024, representing 8.7% of oil and natural gas sales, consistent with 8.9% in 2023[352]. Financial Performance - The company recorded a loss on derivative contracts of $850,374 for the year ended December 31, 2024, compared to a gain of $392,765 in 2023[349]. - Depletion, depreciation and amortization (DD&A) increased to $2,407,098 for the year ended December 31, 2024, from $1,849,876 in 2023, with a DD&A rate of $8.27 per BOE, up 48% from $4.53 per BOE in 2023[353]. - Accretion expense decreased to $144,988 in 2024 from $859,102 in 2023, with a per BOE cost of $0.50 compared to $2.32 in 2023, driven by changes in inflation and discount rate assumptions[354]. - General and administrative expenses rose to $10,381,095 in 2024 from $7,253,384 in 2023, including stock-based compensation of $2,778,991[355]. - Interest expense increased significantly to $7,643,200 in 2024 from $1,043,312 in the Successor period of 2023, primarily due to the Senior Secured Term Loan[357]. - The company reported a positive cash flow from operations of $3,700,686 for the year ended December 31, 2024, compared to $484,474 in the Successor period of 2023[368]. Debt and Liabilities - As of December 31, 2024, the company had outstanding debt of $23,641,517 under the Senior Secured Term Loan and a working capital deficit of $31,213,674[365]. - The company recognized a gain on extinguishment of liabilities of $1,638,138 during the year ended December 31, 2024, including a gain of $1,720,000 related to the settlement of royalties payable[360][361]. - The change in fair value of warrant liabilities resulted in a loss of $804,004 in 2024, compared to a gain of $187,704 in the Successor period of 2023[362]. Investments and Equity - Net cash used in investing activities for 2024 was primarily due to the development of crude oil and gas properties, with significant cash outflows in the previous year for compliance upgrades[370]. - The company has a three-year equity line with a maximum funding limit of $150,000,000, having received $6,992,906 in cash proceeds from the sale of 7,000,000 shares under this agreement[367]. Risk Management - The Company uses derivative financial instruments to mitigate commodity price risk, with fair value changes recognized in consolidated statements of operations[386]. - Realized and unrealized gains and losses from derivative financial instruments are reported as a component of revenues in the consolidated statements of operations[386]. - Cash flows from derivative contract settlements are reflected in operating activities in the consolidated statements of cash flows[386]. - The Company records liabilities for ongoing litigation and environmental remediation, with actual costs potentially varying from estimates due to legal interpretations and regulatory changes[384]. - The fair value of the Forward Purchase Agreement liability was estimated using a Monte-Carlo Simulation, considering future stock price simulations and contractual terms[385]. - The Company is classified as a smaller reporting company and is not required to provide additional market risk disclosures[388].
EON Resources Inc.(EONR) - 2024 Q3 - Quarterly Results
2024-11-18 21:15
Exhibit 99.2 =0 esources Inc. il American: EONR SE Corporate Slide Presentation November 2024 the state Disclaimer This presentation of EON Resources Inc. ("EON" or the "Company") shall not constitute a "solicitation" as defined in Rule 14-3 of the Securities Exchange Act of 1934, as a The information in this resentation may not be compete an any the Gronper on the Comparis securiter, you squid read the conparts segrites, you squid read the conpan has f This areastation incomment skicio by the communes assi ...
EON Resources Inc.(EONR) - 2024 Q3 - Quarterly Report
2024-11-15 21:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-41278 EON Resources, Inc. | --- | --- | |------------------------------------------------------|------------------------------- ...
EON Resources Inc.(EONR) - 2024 Q2 - Quarterly Report
2024-08-17 01:43
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-41278 | --- | --- | |--------------------------------------------------------------------------|-----------------------| | (Exact na ...
EON Resources Inc.(EONR) - 2024 Q1 - Quarterly Report
2024-05-20 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39718 HNR ACQUISITION CORP | --- | --- | |-------------------------------------------------------------|--------------------------- ...
EON Resources Inc.(EONR) - 2023 Q4 - Annual Report
2024-05-02 22:24
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to HNR ACQUISITION CORP (Exact name of registrant as specified in its charter) 001-41278 (CommissionFileNumber) Delaware (State or other jurisdiction of incorporation ...
EON Resources Inc.(EONR) - 2023 Q3 - Quarterly Report
2023-11-13 13:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39718 HNR ACQUISITION CORP | --- | --- | |----------------------------------------------------------------------------|-------- ...
EON Resources Inc.(EONR) - 2023 Q2 - Quarterly Report
2023-08-18 21:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39718 HNR ACQUISITION CORP (Exact name of registrant as specified in its charter) | --- | --- | |----------------------------------- ...
EON Resources Inc.(EONR) - 2023 Q1 - Quarterly Report
2023-05-19 23:24
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-41278 HNR ACQUISITION CORP (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorpor ...
EON Resources Inc.(EONR) - 2022 Q4 - Annual Report
2023-03-31 20:57
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to HNR ACQUISITION CORP (Exact name of registrant as specified in its charter) | --- | --- | --- | |-----------------------------------------|------------------------ ...