INFINITY NATURAL RESOURCES (INR) Company Report

Analyst Earnings Quarterly Reports

Earnings summaries and quarterly performance for INFINITY NATURAL RESOURCES.

Analyst Coverage

Research analysts who have asked questions during INFINITY NATURAL RESOURCES earnings calls.

Michael Scialla

Stephens Inc.

6 questions for INR

Also covers: AESI, APA, CNX +10 more

John Freeman

Raymond James Financial

4 questions for INR

Also covers: APA, AR, CRGY +9 more

Paul Diamond

Citigroup

4 questions for INR

Also covers: AR, CHRD, CRK +9 more

Scott Hanold

RBC Capital Markets

4 questions for INR

Also covers: APA, CHRD, CIVI +13 more

Kalei Akamine

Bank of America

3 questions for INR

Also covers: CNX, COP, CRC +9 more

Bertrand Donnes

Truist Securities

2 questions for INR

Also covers: APA, AR, BKV +7 more

Noah Hungness

Firm Not Mentioned in Transcript

2 questions for INR

Also covers: CHRD, CNX, GPOR +9 more

Timothy Rezvan

KeyBanc Capital Markets Inc.

2 questions for INR

Also covers: BKV, BSM, CIVI +10 more

Tim Rezvan

KeyBanc Capital Markets

2 questions for INR

Also covers: BSM, CRGY, GPOR +8 more

Kalei Akamai

Bank of America

1 question for INR

Also covers: FANG

Kaleinoheaokealaula Akamine

Bank of America

1 question for INR

Also covers: AR, COP, CRC +8 more

Michael Shaula

Stephens Inc.

1 question for INR

Latest news

Recent press releases and 8-K filings for INR.

Infinity Natural Resources Announces Acquisition of Antero's Ohio Utica Shale Assets

INR

M&A

New Projects/Investments

Infinity Natural Resources (INR) announced the acquisition of Antero Resources and Antero Midstream's Ohio Utica Shale assets for a total consideration of $1.2 billion.
INR will acquire a 51% interest for $612 million, partnering with Northern Oil and Gas, which will acquire the remaining 49% for $588 million.
The transaction is expected to close in Q1 2026 and will be funded with cash on hand and an expanded $875 million credit facility, with no equity issuance.
The acquired assets include approximately 71,000 net acres adjacent to INR's core position, 133 Mcfe per day of production in Q3 2025, and a midstream system spanning 140 miles with a capacity of 600 million cubic feet of gas per day.
INR anticipates $25 million in synergies in 2026 and expects the acquisition to be immediately accretive to key financial metrics, aiming for a net leverage ratio at or below one times by year-end 2027.

Dec 8, 2025, 3:00 PM

Transcript

Infinity Natural Resources Acquires Antero's Ohio Utica Shale Assets

INR

M&A

New Projects/Investments

Guidance Update

Infinity Natural Resources (INR) announced the acquisition of Antero Resources and Antero Midstream's Ohio Utica Shale Assets for a total consideration of $1.2 billion.
INR will acquire a 51% interest for $612 million, with Northern Oil and Gas acquiring the remaining 49% for $588 million. The transaction is expected to close in Q1 2026 and will be funded with cash on hand and an expanded $875 million credit facility, without issuing equity.
The acquisition adds approximately 71,000 net acres adjacent to INR's core position, creating a pro forma position of approximately 102,000 Ohio net horizontal Utica Shale acres and increasing total company reserves to 3.2 TCFE. The acquired assets produced approximately 133 MCFE per day during Q3 2025.
The deal includes a midstream system with over 140 miles of gathering lines, capable of moving over 600 million cubic feet of gas per day, and 300 million a day of FT on the REX Zone 3 contract.
The acquisition is expected to be immediately accretive to key financial metrics, including adjusted EBITDA margins and cash flow per share, with anticipated $25 million of synergies in 2026. Post-closing, INR plans to increase its operated rig counts to two rigs.

Dec 8, 2025, 3:00 PM

Transcript

Infinity Natural Resources Announces Utica Shale Acquisition

INR

M&A

New Projects/Investments

Infinity Natural Resources (INR) announced the acquisition of Antero's Ohio assets for a gross, all-cash purchase price of $1.2 billion.
The acquisition, anticipated to close in Q1 2026, will increase INR's pro forma net acreage in the Ohio Utica Shale by approximately 50% to ~102k net acres.
INR expects to realize $25 million in synergies in 2026 alone and projects the transaction to be immediately accretive to margins, cash flow per share, free cash flow per share, and net asset value per share.
The acquisition was made at an attractive multiple of ~4.7x NTM Adjusted EBITDAX and ~3.6x 2027E Adjusted EBITDAX, with a clear path to less than 1.0x net leverage by year-end 2027.

Dec 8, 2025, 3:00 PM

Presentation

Infinity Natural Resources Announces Acquisition of Antero's Ohio Utica Shale Assets

INR

M&A

New Projects/Investments

Infinity Natural Resources (INR) announced the acquisition of Antero Resources and Antero Midstream's Ohio Utica Shale assets for a total consideration of $1.2 billion.
Infinity Natural Resources will acquire a 51% interest in the assets for $612 million, with Northern Oil and Gas acquiring the remaining 49% for $588 million.
The transaction is expected to close in Q1 2026 and will be funded with cash on hand and borrowings under an expanded $875 million credit facility, without issuing any equity.
The acquired assets include approximately 71,000 net acres in the Ohio Utica Shale, 1.4 TCFE of undeveloped net reserves in Ohio, and a midstream system spanning over 140 miles capable of gathering volumes in excess of 600 million cubic feet of gas per day.
The acquisition is expected to be immediately accretive to key financial metrics, including adjusted EBITDA margins, cash flow per share, and net asset value per share, and is projected to deliver $25 million of synergies in 2026 alone.

Dec 8, 2025, 3:00 PM

Transcript

Infinity Natural Resources Announces $1.2 Billion Acquisition in Ohio Utica Shale

INR

M&A

New Projects/Investments

Infinity Natural Resources (INR) announced a $1.2 billion acquisition of upstream and midstream assets in the Ohio Utica Shale from Antero Resources Corporation and Antero Midstream Corporation.
Infinity will acquire an undivided 51% interest in the assets for a net purchase price of $612 million, while Northern Oil and Gas, Inc. will acquire the remaining 49% interest for $588 million.
The acquired assets include approximately 71,000 net acres in the Utica Shale, with Q3 2025 net daily production of 133 MMcfe/d (81% gas, 19% liquids), and 141 miles of gathering lines.
The transaction, with an effective date of July 1, 2025, is anticipated to close in the first quarter of 2026 and will be funded by cash on hand and an expanded senior secured revolving credit facility.
Infinity expects to realize $25 million in synergies in 2026 alone, solidifying its leading position in the Utica Shale and enhancing operational scale.

Dec 8, 2025, 12:07 PM

8-K

Infinity Natural Resources Reports Strong Q3 2025 Results and Raises Full-Year Guidance

INR

Earnings

Guidance Update

Share Buyback

Infinity Natural Resources reported 39% total production growth year-over-year to 36.0 MBOE per day in Q3 2025, driven by 70% growth in natural gas production, and subsequently raised its full-year 2025 net daily production guidance to 33.5-35 MBOE per day.
The company achieved adjusted EBITDA of $60 million and an adjusted EBITDA margin of $18.12 per BOE in Q3 2025, with cash operating costs decreasing to $6.09 per BOE.
Full-year 2025 total development capital expenditure guidance was updated to $270-$292 million, and the company acquired approximately 3,000 net acres during the quarter, totaling 4,300 net acres year-to-date.
The Board of Directors authorized a $75 million share repurchase program for Class A shares, which could repurchase over 40% of the actively trading Class A shares.

Nov 11, 2025, 3:00 PM

Transcript

Infinity Natural Resources Reports Strong Q3 2025 Results and Authorizes Share Repurchase

INR

Earnings

Guidance Update

Share Buyback

Infinity Natural Resources reported Q3 2025 total production volumes of 36.0 MBoe/d, a significant increase from 26.0 MBoe/d in Q3 2024, contributing to 31% overall production growth for the nine months ended September 30, 2025, compared to 2024.
For Q3 2025, the company achieved Net Revenues of $79.7 Million and Adjusted EBITDAX of $60.0 Million, showing growth from Q3 2024 figures of $69.2 Million and $56.2 Million, respectively.
The company maintained a strong balance sheet with leverage of approximately 0.3x and total liquidity of ~$304 Million in Q3 2025. Incurred Capital Expenditures for Q3 2025 were $83.2 Million.
Infinity Natural Resources provided a 2025 outlook for Development Capital Expenditures of $270 million - $292 million and Total Net Daily Production of 33.5 – 35 MBoe/d. Additionally, a $75 million share repurchase program was authorized in Q4 2025.

Nov 11, 2025, 3:00 PM

Presentation

Infinity Natural Resources Announces Third Quarter 2025 Results, Updates Guidance, and Share Repurchase Program

INR

Earnings

Guidance Update

Share Buyback

Infinity Natural Resources reported net income of $40.0 million and Adjusted EBITDAX of $60.0 million for the third quarter of 2025.
The company delivered 39% growth in total net daily production to 36.0 MBoe/d in Q3 2025 compared to Q3 2024, with natural gas production increasing by 70%.
Infinity Natural Resources updated its 2025 guidance, tightening net daily production to the high end of the range at 33.5 to 35 MBoe/d and narrowing development capital expenditures to the high end of previous ranges.
The Board of Directors approved a share repurchase program of up to $75 million.
Total net debt was approximately $70.8 million as of September 30, 2025.

Nov 10, 2025, 9:14 PM

8-K

Ioneer Provides Rhyolite Ridge Project Update and Strategic Partnering Process Extension

INR

New Projects/Investments

Guidance Update

Debt Issuance

The Rhyolite Ridge Lithium-Boron Project is advancing towards a Final Investment Decision (FID) and is seeking a strategic partner, with the process, initiated on July 3, 2024, now expected to conclude in early 2026 due to market volatility.
Key project milestones include receiving a favorable Record of Decision from the Bureau of Land Management in October 2024 and securing an upgraded $986 million loan from the U.S. Department of Energy.
Updated project economics show a Net Present Value (NPV) of $2.3 billion and an Internal Rate of Return (IRR) of 23.2%, with an all-in sustaining cash cost of $4,628 per tonne of lithium carbonate.
Leach optimization has significantly improved project economics, increasing annual EBITDA from $319 million to $417 million and annual revenues from approximately $500 million to $600 million, without additional capital expenditures.
The project is fully permitted, 70% engineered, and has offtake agreements with companies including Ford Motor Company. First production is anticipated by the end of 2028 or early 2029, following an FID in early 2026.

Oct 30, 2025, 11:00 PM

Transcript

Ioneer Announces Significant Rhyolite Ridge Project Economics Upgrade

INR

New Projects/Investments

Guidance Update

Ioneer announced a material upgrade to the Rhyolite Ridge Project economics, with the unlevered Net Present Value (NPV) increasing by 33% to $1.88 billion and average annual EBITDA rising 22% to $497 million.
The project's production capacity has been significantly enhanced, with a 20% increase in lithium hydroxide production to 25,500 tonnes annually and a 17% increase in total lithium carbonate equivalent tonnes, achieved by processing 25% more ore daily due to optimized leach times.
Rhyolite Ridge is fully permitted, shovel ready, and substantially de-risked, with over 70% of engineering complete, existing offtake agreements, and a nearly $1 billion loan from the U.S. government.
The project boasts an 82-year mine life and an all-in sustaining cash cost of $5,626 per tonne of lithium carbonate equivalent, benefiting from a significant boron credit.
Ioneer is actively engaged in a strategic partnering process to secure equity financing, with a final investment decision (FID) and subsequent 36-month construction phase anticipated upon its completion.