EON Resources spudded the first of a planned 92 horizontal wells on 24 August 2026 in the Grayburg-Jackson Field in Eddy County, New Mexico. The well is the first of three being drilled under a farm-out agreement covering the San Andres interval, signed 9 September 2025 between EON subsidiary LH Operating and a subsidiary of Virtus Energy Partners.
Three vertical well recompletions in the San Andres interval were completed between May and July, producing initial rates of 140 barrels of oil per day (bopd) and informing the horizontal well designs. Each horizontal well is expected to take about 10 days to drill to objective depth, with a further 60 days needed to complete, including fracing, surface facility installation and testing.
An additional 12 horizontal wells are set to begin drilling in December 2026, with 10 to 20 more wells planned annually through 2027 and each year thereafter until the development program is completed.
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