HNR Acquisition Corp
HNRA-WT
New York Stock Exchange Arca0.09
USD
+0.00
- -
CIK
0001842556
ISIN
US40472A1280
CUSIP
40472A128
Return %
Stock
S&P500
1Y
-17.37
26.53
3Y
-27.08
76.60
5Y
-27.08
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Dante V. Caravaggio
- Full Time Employees
- 10
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 3730 Kirby Drive Houston DE United States of America 77098
- CIK
- 0001842556
- Website
- hnra-nyse.com
- Similar Companies
- Business
- HNR Acquisition Corp (NYSE American: HNRA-WT) operates as a warrant on the common stock of EON Resources Inc., its former blank check company entity that completed a business combination in 2023 and rebranded in September 2024. EON Resources Inc., the primary operating entity post-transaction, functions as an independent upstream energy company engaged in the acquisition, exploration, development, production, and optimization of oil and gas properties primarily through waterflooding secondary recovery techniques; its core assets include the Grayburg-Jackson Field with 550 producing and injection wells across approximately 13,700 contiguous acres in Eddy County, New Mexico, and the South Justis Field with 208 producing and injection wells on about 5,360 contiguous acres in Lea County, New Mexico, both situated on the Northwest Shelf of the prolific Permian Basin. The company targets incremental oil recovery via water injection for pressure maintenance in mature reservoirs, supplemented by production enhancements such as chemical stimulation treatments using nano-sized molecules to remove scale buildup, infrastructure upgrades including flowlines, satellite test stations, electrical systems, and water injection facilities, AI-driven field automation for operational efficiency, and equipment acquisitions like hot oilers for well maintenance; it also explores primary recovery potential from natural pressure in additional wells while maintaining proven reserves exceeding 15 million barrels of oil, with upside potential of up to 34 million barrels from the Seven Rivers and San Andres formations. Founded in 2020 and headquartered at 3730 Kirby Drive, Suite 1200, Houston, Texas, the company initially pursued a merger, capital stock exchange, asset acquisition, or similar business combination as a special purpose acquisition company. In November 2023, it completed its de-SPAC transaction by acquiring Pogo Resources LLC and its subsidiary LH Operating LLC for $90-120 million, funded partly by a $28 million senior secured term loan from First International Bank & Trust, gaining control of the Grayburg-Jackson oil field and transitioning to direct upstream operations. Recent developments within the last two years encompass the June 2025 acquisition of the South Justis Field to expand its Permian Basin footprint; a late June 2024 chemical stimulation pilot on 24 wells that yielded over 80 barrels of oil per day (BOPD) increment, with phase-one expansion to 100 wells targeting 250 BOPD by year-end; Q2 2024 infrastructure modernizations reducing lease operating expenses by $65,000 and enabling production restarts on 20 previously offline wells; implementation of AI automation consolidating field operations software to cut costs, boost uptime, and ensure compliance; purchase of a hot oiler truck and rig for $130,000 to handle paraffin and sand issues in-house, saving at least 33% on third-party services; NYSE American compliance restoration via timely 10-K filing in May 2024; and a three-year common stock purchase agreement with White Lion LLC capped at $150 million for working capital and debt reduction pending SEC review. Geographically focused on onshore U.S. assets in New Mexico's Permian Basin, EON Resources Inc. serves oil and gas markets through a diversified strategy of selective acquisitions, production improvements, and exploitation to maximize long-term shareholder returns from enduring reserves expected to generate revenue for over two decades.