EON Resources Inc.和 Pogo Royalty LLC 达成协议，将取消 EON 4000 万美元的债务和义务，同时增加该公司在其 Permian Basin Grayburg-Jackson 油田财产中的权益。

EON 称这项多方面交易为资产负债表重组，其中包括 EON 向 Pogo 支付现金和股权补偿，这反过来将减少 EON 对其承担的某些债务和义务。

根据交易条款，EON 将向 Pogo 支付 2200 万美元现金，并发行 300 万股 A 类普通股。EON 将从 Pogo 手中收购 Grayburg-Jackson 油田 10% 的超额特许权使用费权益 (ORRI)。

EON 表示，ORRI 的价值为 1400 万美元，每月产生约 20 万美元的收益。

Pogo 将减少 EON 所欠的约 1800 万美元的债务和债务。Pogo 还将取消其所持股份的 2400 万美元赎回价值。

EON 还同意回购 Pogo 在 EON 子公司持有的 100% 优先股。一份原本金为 1500 万美元的 Pogo 期票也将被赎回。

该协议为 EON（原为一家特殊目的收购公司，即 SPAC，即 HNR Acquisition Corp）提供了摆脱资产负债表约束的途径。

EON 总裁兼首席执行官 Dante Caravaggio 在 2 月 11 日的新闻稿中表示：“De-SPAC 交易在一次性费用方面给我们造成了巨大负担，而且资产负债表也非常复杂且负担沉重，这些都限制了我们真正释放资产潜在潜力和价值的能力。”

2023 年，EON Resources 收购了位于新墨西哥州埃迪县二叠纪西北大陆架的 Grayburg-Jackson 注水资产。这些资产包括二叠纪西北大陆架联邦和州租赁的 13,700 英亩连续租赁土地、342 口生产井和 207 口注入井。该资产拥有约 1540 万桶石油和 35 亿立方英尺天然气的已探明储量。

Caravaggio 表示：“在过去 15 个月中，EON 通过将可用现金流重新投资于油田增强，继续开发其 Grayburg-Jackson 油田。”

卡瓦焦表示，EON 正在寻求通过一系列方式为此次收购筹集资金，并正在与多家财务顾问进行洽谈。

12 月初，EON 与 Enstream Capital Management 签署了一份价值 2250 万美元的完井融资意向书。EON 当时表示，计划将这笔资金用于在其 Eddy County 租赁地上开发 45 口井，使用低成本修井技术。该公司还表示，这笔资金将用于购买 ORRI。

EON Resources Inc. and Pogo Royalty LLC have entered into an agreement that will kill $40 million in EON debts and obligations—while adding to the company’s interests in its Permian Basin Grayburg-Jackson oil field property.

The multifaceted deal, which EON termed a balance sheet restructuring, involves EON paying a combination of cash and equity compensation to Pogo, which in turn will reduce certain liabilities and obligations owed to it by EON.

Under the terms of the deal, EON will pay Pogo $22 million cash and issue 3 million Class A common stock shares. EON will acquire a 10% overriding royalty interest (ORRI) in the Grayburg-Jackson oil field from Pogo.

The ORRI is valued at $14 million and generates proceeds of approximately $200,000 per month, EON said.

Pogo will reduce liabilities and debt owed by EON by about $18 million. Pogo will also eliminate $24 million of redemption value for shares owned by Pogo.

EON also agreed to repurchase of 100% preferred units Pogo held in an EON subsidiary. A promissory note to Pogo with an original principal of $15 million will also be retired.

The agreement gives EON—originally a special purpose acquisition corporation, or SPAC, known as HNR Acquisition Corp.—an off-ramp from a constrained balance sheet.

"The overhang from our De-SPAC transaction in terms of one-time expenses, and a very complicated and burdened balance sheet, has restricted our ability to really unlock the underlying potential and value of our assets,” Dante Caravaggio, president and CEO of EON, said in a Feb. 11 press release.

In 2023, EON Resources bought its Grayburg-Jackson waterflood assets in the Permian’s Northwest Shelf in Eddy County, New Mexico. The assets included 13,700 contiguous leasehold acres, 342 producing wells and 207 injection wells on federal and state leases in the Permian’s Northwest Shelf. The property holds proven reserves of approximately 15.4 MMbbl of oil and 3.5 Bcf of natural gas.

"Over the past 15 months, EON has continued to develop its Grayburg-Jackson Oil Field by reinvesting available cash flow into field enhancements," Caravaggio said.

Carvaggio said EON is looking to finance the purchase through a range of options and is in talks with various financial advisers.

In early December, EON entered a $22.5 million letter of intent with Enstream Capital Management for well completion funding. EON said then it planned to allocate the funds toward developing 45 wells, using low-cost workovers, on its Eddy County leasehold. The company also said the money would be used to purchase an ORRI.