Michael Shaula's questions to Infinity Natural Resources Inc (INR) leadership • Q2 2025
Question
Michael Shaula from Stephens Inc. questioned how pulling a project forward into Q3 would impact Q4 activity given the unchanged annual budget. He also asked about the potential long-term efficiency benefits of moving to a two-rig program with dedicated rigs for each of the Ohio and Pennsylvania plays.
Answer
President and CEO Zach Arnold clarified that accelerating the gas pad does not alter the overall capital plan because the D&C cost per foot is nearly identical for both gas and oil wells. He confirmed the company will maintain a one-rig, one-frac crew program for the remainder of the year. While acknowledging some efficiency gains from dedicated rigs, he noted that the current rig moves between states are already highly efficient.