HOUSTON, TX / ACCESS Newswire / March 11, 2026 / EON Resources Inc. (NYSE American:EONR) ("EON" or the "Company") is an independent upstream energy company with 20,000 leasehold acres in the Permian Basin. The fields have a total of 750 producing and injection wells producing over 1,000 barrels of oil per day. Today, the Company announced the expansion of its oil hedging position to fill out its base needs for all of 2026 and 2027. This expansion is in addition to EON's hedging status announced in the February 12, 2026 hedging press release. The current hedging position sets the stage for supporting the hedging needs as production increases under the horizontal drilling program announced in the September 11, 2025 farmout press release and further described in the letter to the EON shareholders dated January 21, 2026.

Hedging Position:

The Company was able to take advantage of higher oil price spikes this past week to fill out its hedging position needs for the Grayburg-Jackson field waterflood program through the end of 2027. As described in the February 12, 2026 hedging press release, EON had taken advantage of oil price spikes in September, January and February to establish a base level hedging position through the first quarter of 2027.

This past week, EON expanded the hedging to a full 24-month position where the next 15 months are approximately 75% hedged, and the last nine months of 2027 are now over 50% hedged. All of the hedges this past week were higher than previous hedges, and approximately 12% of the 2026 hedges are over $70.00 per barrel. EON hedges are a combination of no-cost swaps (a set price per barrel), and no-cost collars (provides a range above and below a swap to take advantage of some potential upside and a floor for downside protection).

"We are really pleased to have filled our hedging positions for the Grayburg-Jackson waterflood for a few strategic business reasons," said Mitchell B. Trotter, CFO of the Company. "First, having these hedges in place mitigates the risks of unfavorable price movement while providing base level protection for the cash requirements necessary for operating expenses and any potential debt service requirements. The second reason, of course is that EON is now more attractive to potential future debt financing. The third and a major reason is that having our hedging at this level is a great hedge platform for upcoming production growth via the San Andres horizontal drilling program."

"While we believe the war in Iran will be swift, we also expect prices will settle back to between $60.00 to $70.00 per barrel. We are taking action now to ensure profitable pricing through 2027 before an anticipated retreat to lower oil prices," said Dante Caravaggio, President and CEO of the Company.

Production growth:

"Regarding our production growth, timing could not be better as we look forward to the production from the San Andres horizontal drilling program in the second half of 2026. The program has been moving along and is proceeding on schedule. The first three wells are expected to be in service by end of July, and we expect around 10 wells to be completed by the end of the year," said Dante Caravaggio. "EON has a 35% working interest in the horizontal wells that are expected to produce 300 to 500 gross barrels of oil per day. We are excited about the potential of the horizontal drilling program."

"Part of the farmout program includes the recompletion of five vertical wells in the San Andres that we expect to provide data to aid in maximizing the horizontal drilling," added Mr. Caravaggio. "We expect to boost our net production by an expected 100 to 300 barrels of oil per day in the second quarter of 2026."

"After the last two years of stabilizing the Grayburg-Jackson field and upgrading the infrastructure to our standards, the major infrastructure enhancement of the Skelly Unit water trunkline is now complete," said Jesse Allen, Vice President of Operations for the Company. "We expect to see results from the trunkline and from injector wells being brought back online over the next few months. We are also focusing on expanding of the South Justis field to increase production over the next several months."

About EON Resources Inc.

EON is an independent upstream energy company focused on maximizing total returns to its shareholders through the development of onshore oil and natural gas properties in a diversified portfolio of long-life producing oil and natural gas properties and other energy holdings. EON's approach is to build an energy company through acquisition and through selective development of its properties. Class A Common Stock of EON trades on the NYSE American Stock Exchange under the symbol of "EONR" and the Company's public warrants trade under the symbol of "EONRWS". For more information on the Company, please visit the EON website.

About the Grayburg-Jackson Field Property

Our Grayburg-Jackson Field ("GJF") is located on the Northwest Shelf of the Permian Basin in Eddy County, New Mexico. The GJF comprises of 13,700 contiguous leasehold acres where the leasehold rights include the Seven Rivers, Queen, Grayburg and San Andres intervals that range from as shallow as 1,500 feet to 4,000 feet in depth. The December 2024 reserve report from our third-party engineer, Haas and Cobb Petroleum Consultants, LLC, estimates proven reserves of approximately 14.0 million barrels of oil and 2.8 billion cubic feet of natural gas. The mapped original-oil-in-place ("OOIP") is approximately 956 million barrels of oil. The Company has two production programs. The first is the existing waterflood recovery primarily in the Seven Rivers formation via the 550 wells already in place. The second is via a Farmout agreement in the San Andres formation where the recovery will primarily be under the horizontal drilling program that the Company expects to drill up to 90 new wells over the next several years. More information on the property can be located on the Grayburg-Jackson Field page of our website.

About the South Justis Field Property

The South Justis Field ("SJF") is a carbonate reservoir similar to the rest of the Permian, and is located in Lea County, New Mexico approximately 100 miles from the GJF. The SJF is comprised of 5,360 contiguous acres containing 208 total producing and injection wells with well spacing of 50 acres. The producing formations include the Glorietta, Blinebry, Tubb, Drinkard and Fusselman intervals that range from 5,000 feet to 7,000 feet in depth. The original-oil-in-place ("OOIP") is approximately 207 million barrels of oil. More information on the property can be located on the South Justis Field page of our website.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," "may," "might," "plan," "possible," "should" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company's management's current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Important factors - including the availability of funds, the results of financing efforts and the risks relating to our business - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on EDGAR (see www.edgar-online.com) and with the Securities and Exchange Commission (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Investor Relations
Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
[email protected]

SOURCE: EON Resources Inc.



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