EON Resources Inc. (NYSE American: EONR) has appointed 33-year-old petroleum engineer Kyle Bulpitt as an independent Class II director, effective January 26, 2026. Bulpitt fills the vacancy left by Byron Blount’s resignation at the end of 2025 and will chair the Audit Committee while serving on the Compensation and Nominating and Corporate Governance Committees. His expertise in oil and gas operations, financial analysis, mergers and acquisitions, and innovative financing is expected to bolster the company’s strategic growth efforts in the Permian Basin.
Board Appointment Details
EON Resources Inc., an independent upstream energy company operating in the Permian Basin, has strengthened its board with the addition of Kyle Bulpitt as an independent director. The appointment, effective January 26, 2026, addresses a vacancy created when Byron Blount resigned from the board effective December 31, 2025. Bulpitt will serve in Class II with a term expiring at the 2027 annual meeting of stockholders or until his successor is appointed and qualified.
The board conducted a targeted search for a candidate with demonstrated experience in oil and gas operations, mergers and acquisitions, and innovative financing and banking—core competencies aligned with the company’s strategic priorities. Bulpitt’s profile matches these requirements closely, bringing both technical petroleum engineering knowledge and financial acumen to support EON’s focus on asset optimization, acquisitions, and shareholder value creation.
In connection with his appointment, Bulpitt will receive standard non-employee director compensation, including:
Annual cash retainer: $75,000
Annual grant of restricted stock units valued at $75,000
Additional annual retainer of $25,000 for serving as Audit Committee chair
There are no family relationships between Bulpitt and any current director or executive officer, and he was not appointed pursuant to any arrangement or understanding with third parties. No reportable related-party transactions exist under applicable regulations.
Kyle Bulpitt’s Professional Background
Kyle Bulpitt is a petroleum engineer with a Bachelor of Science degree in Petroleum Engineering from Texas A&M University. He has accumulated substantial experience in the upstream oil and gas sector, particularly in technical and financial evaluation of assets.
Since June 2025, Bulpitt has served as Executive Vice President of Corporate Development at Aethel Energy, where he leads activities related to acquisitions and divestitures. In this role, he oversees technical, financial, and commercial evaluations of potential transactions, driving strategic growth through disciplined deal execution.
Prior to Aethel Energy, Bulpitt held the position of Director at Legado Capital from September 2024 to June 2025, focusing on technical valuation of upstream assets. From October 2021 to September 2025, he served as Vice President at Donovan Ventures, contributing to investment analysis and portfolio management in the energy space. Earlier, from October 2020 to October 2021, he was Vice President at Veld Applied Analytics, where he honed skills in data-driven decision-making for oil and gas investments.
His expertise spans financial analysis for debt and equity financing, mergers and acquisitions, financial modeling, asset-backed securitization, field economic and development modeling, and petroleum reserves analysis. This blend of engineering and finance positions him to provide valuable oversight on operational efficiency, capital allocation, and transaction opportunities at EON Resources.
Company Overview and Operational Context
EON Resources Inc. operates as an independent upstream energy company with a portfolio concentrated in the Permian Basin, one of the most productive oil and gas regions in the United States. The company holds approximately 20,000 leasehold acres across its key fields, including the Grayburg-Jackson Field in Eddy County, New Mexico (acquired November 2023, ~13,700 acres with 550 producing and injection wells) and the South Justis Field in Lea County, New Mexico (acquired June 2025, ~5,360 acres with 208 producing and injection wells).
Production relies primarily on waterflooding as a secondary recovery technique to maintain reservoir pressure and extract incremental oil after primary depletion. Current operations include more than 750 producing and injection wells generating over 1,000 barrels of oil per day. Management continues to evaluate opportunities for additional primary recovery wells and enhanced development strategies to maximize resource recovery and returns.
The company’s strategy emphasizes growth through targeted acquisitions of onshore oil and natural gas properties, alongside operational enhancements to existing assets. As a small-cap player in a competitive basin, EON focuses on disciplined capital management and opportunistic expansion amid fluctuating commodity prices and industry consolidation trends.
Leadership and Governance Perspective
Dante Caravaggio, President and Chief Executive Officer of EON Resources, welcomed Bulpitt’s addition to the board. “Kyle is a great replacement for Byron on the board and we look forward to his involvement and contribution to the EON team,” Caravaggio stated. He emphasized the deliberate nature of the search process, noting the need for expertise in oil and gas combined with mergers and acquisitions and financing capabilities. “We see this as a core competency of Kyle, who brings a strong background in financing and acquisitions similar to that of Byron, plus a strong background in the oil and gas industry as a petroleum engineer.”
Blount, who served since the company’s early stages, was praised for his contributions. “Byron has been an excellent director and has been with EON from the beginning. Byron will be missed but not gone, as he is an investor and owner in EON stock,” Caravaggio added.
The appointment reflects ongoing efforts to maintain robust corporate governance as EON pursues its growth objectives in a dynamic energy market.
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