EON Resources Inc. Announces 92 Horizontal Well Drilling Program Has Begun! $1 Million Per Month Increase Anticipated in Free Cash Flow in Q4 2026
EON Resources has commenced spudding on the first of 92 planned horizontal wells at its Grayburg-Jackson Field in the Permian Basin, initiating a multi-year development program. The first three wells, carried under a Joint Development Agreement, are expected to generate 500 net barrels of oil per day, equating to $1 million in monthly free cash flow once sales begin in October.
Key figures
- Permian acres
- 20000
- Gross bopd target
- 20000
- Cost per well estimate
- $1.2 million
- Drilling program wells
- 92
- Net bopd carried wells
- 500
- Initial production bopd
- 140
- Working interest percent
- 35
- Original oil in place barrels
- 1200000000
- Net fcf per month carried wells
- $1 million
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