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HNR Acquisition Corp (NYSE American: HNRA) is an independent upstream energy company with oil and gas properties in the Permian Basin. The company focuses on maximizing shareholder returns through the development of onshore oil and natural gas properties in the US. With acquisitions and selective development, HNR aims to enhance production and generate revenue from its diversified portfolio of long-life oil and natural gas properties.
The company recently acquired LH Operating, LLC, including assets in New Mexico, with proven reserves of approximately 15.4 million barrels of oil and 3.5 billion cubic feet of natural gas. HNR's primary production is from the Seven Rivers zone, with the potential to access an additional 34 million barrels of oil from the Grayburg and San Andres formations. With a long-term vision to maximize total shareholder value, HNR is listed on the NYSE American under the symbols HNRA (Common Stock) and HNRAW (Public Warrants).
HNR Acquisition Corp (HNRA) announced its participation in the EF Hutton Annual Global Conference on May 15, 2024. The company's management, including Chairman Joseph V Salvucci, President & CEO Dante Caravaggio, and CFO Mitch B. Trotter, will be available for one-on-one meetings at the event. The conference will take place at the Plaza Hotel in New York, offering attendees the opportunity to engage directly with HNRA representatives.
HNR Acquisition Corp has successfully closed its initial public offering, selling 7,500,000 units at $10.00 each, which includes one share of common stock and a warrant. The offering, completed on February 11, 2022, raised gross proceeds of $86,250,000. The company focuses on potential business combinations in the energy sector, particularly involving natural gas and crude oil. Going forward, the shares and warrants will trade under the symbols HNRA and HNRAW on the NYSE American.
HNR Acquisition Corp has priced its initial public offering (IPO) at $75 million, consisting of 7.5 million units offered at $10.00 per unit. Trading on NYSE American under the ticker symbol HNRAU will commence on February 11, 2022. Each unit provides shareholders with one common stock share and a warrant to purchase three-fourths of a common share at $11.50. The company targets mergers or acquisitions primarily in the natural gas and oil sectors in North America. EF Hutton is the book-running manager and has an option for an additional 1.125 million units.
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