EON Resources shares surge 10.83% intraday after $45.5M funding and farmout agreement with Virtus Energy.

EON Resources Inc. surged 10.83% intraday following the announcement of a $45.5 million funding round, which included the settlement of seller obligations and retirement of senior debt. The company simultaneously secured a farmout agreement for its San Andres rights, enabling a $300+ million Permian drilling program with Virtus Energy Partners, estimated to deliver $95+ million in net PV-10 value. These moves, coupled with management and director share purchases totaling 1.076 million shares in Q3 2025, signaled improved financial stability and operational growth potential. The funding and strategic partnerships address liquidity constraints while expanding high-margin drilling opportunities in the Permian Basin, directly aligning with the stock’s sharp intraday rally.