EON Resources is centering its next phase of expansion on the San Andres formation within its Permian Basin portfolio. President and CEO Dante Caravaggio described plans for the company to participate in an initial three-well horizontal program, followed by 10 additional wells. The development campaign is intended to increase production from EON’s existing acreage while using horizontal drilling to access a broader portion of the formation. Well performance, development costs and the pace of deployment will help determine how rapidly the company can expand its operating base.
Management is also seeking additional investment to support the company’s planned growth. Caravaggio said EON expects annual revenue to reach approximately $100 million within five years. The company recorded EBITDA of about $6 million in 2025 and is targeting roughly $12 million in 2026 and $24 million in 2027, with further increases anticipated as development progresses. These financial goals are closely connected to the execution of the San Andres drilling program, making operating results and continued access to capital important factors in EON’s expansion strategy.
Source: The Energy Year
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