EON Resources Inc. Announces Third Quarter 2024 Financials

EON Resources Inc., an independent upstream energy company based in Houston, reported a significant financial milestone for the third quarter of 2024. The company achieved $2 million in operating income, despite a net loss of $3.8 million, largely due to non-cash charges totaling $6.0 million. This quarter's revenue reached $7.4 million, adjusting to $5.5 million after excluding the impact of hedging derivatives, marking their highest quarterly revenue to date.

Over the nine-month period ending September 30, 2024, EON's revenues climbed to $15.7 million. The company invested $4.5 million in field improvements, focusing on infrastructure modernization and production equipment. These efforts are part of a broader strategy to enhance production efficiency and control costs in their Grayburg-Jackson field within the Permian Basin.