EON Resources Reports A 19% Increase in Revenues and Lower Costs for the First Quarter of 2026, Advances San Andres Horizontal Drilling as Early Tests Confirm Commercial Oil Production
EON Resources reported Q1-2026 revenue net of derivatives of $4.2 million, up from $3.5 million in Q4-2025, with the average realized oil price $26.28 per barrel higher than the prior quarter. The company's San Andres horizontal drilling program in Eddy County, New Mexico has commenced: all 3 vertical test wells produced oil in commercial quantities, with the best well flowing over 100 BOPD, and two of three horizontal wells reached total depth with over 6,000 feet of horizontal pay each.
Key figures
- Revenue
- $4.2 million
- Guidance
- Both horizontal wells expected on production this month; Q4-2026 production and reserves expected to grow; prior expectation of 400-600 BOPD initial production for horizontal wells
- Revenue Yoy
- 19% increase (vs Q4-2025, net of derivatives)
- Ooip
- 1.2 billion barrels
- Acreage
- 20,000 leasehold acres
- Cash mar 2026
- 129772
- San andres pv10
- $95.8 million (probable, at $59.25/bbl oil price)
- Total assets mar 2026
- 90743402
- Best vertical test bopd
- over 100 BOPD
- Depletion overstatement
- $3.5 million
- Net oil barrels q1 2026
- 54247
- Average oil price q1 2026
- 80.82
- Restatement net income improvement
- $2.6 million
AI analysis
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