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Oil and gas E&P Infinity Natural Resources prices IPO slightly above the midpoint at $20

January 30, 2025
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Infinity Natural Resources, a US oil and natural gas producer operating in the Utica and Marcellus Shales, raised $265 million by offering 13.3 million shares at $20, slightly above the midpoint of the $18 to $21 range.

Infinity is the year's third energy IPO, following LNG exporter Venture Global (VG; -18.5% from offer) and natural gas equipment and services company Flowco (FLOC; +20.7%).

The Morgantown, WV-based company engages in the acquisition, operation and development of oil and natural gas properties in the Utica (Ohio and Pennsylvania) and Marcellus (Pennsylvania) shales. As of June 30, 2024, its total acreage position was approximately 90,000 net acres, and its daily production averaged 25 Mboe/d in the 3Q24. The company had total estimated proved reserves of 141,587 MBoe (48% developed) as of December 31, 2023. 

Infinity Natural Resources plans to list on the NYSE under the symbol INR. Citi, Raymond James, RBC Capital Markets, BofA Securities, Capital One Securities, and Truist Securities acted as joint bookrunners on the deal.