EON Resources Inc (EONR) announced on Wednesday the expansion of its oil hedging position to cover its base production needs through 2026 and 2027, taking advantage of recent crude price spikes.
The company said the expanded hedging position will support production growth expected from its planned horizontal drilling program. EON added that it used last week’s oil price surge to extend its hedges to a full 24-month period.
Under the hedging plan, about 75% of expected production is hedged for the next 15 months, while more than 50% of output is hedged for the final nine months of 2027. Some of its 2026 hedges were placed above $70 per barrel, it said.
EON Resources operates about 20,000 leasehold acres in the Permian Basin and manages around 750 producing and injection wells that generate more than 1,000 barrels of oil per day.
EONR shares were trading around 1% higher in pre-market trading.
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