Infinity Natural Resources (INR.US) announced the terms of its IPO, which will issue 13.3 million shares of stock to raise $258 million.

American oil and gas producer Infinity Natural Resources (INR.US) announced the specific terms of its initial public offering (IPO) on Tuesday. The company is headquartered in Morgantown, West Virginia, and primarily engages in the production of oil and natural gas in the Utica and Marcellus shale regions. According to the plan, Infinity Natural Resources will raise $258 million by issuing 13.3 million shares at a price range of $18 to $21 per share. Based on the midpoint of the pricing range, the company's valuation will reach $1.1 billion. Infinity Natural Resources focuses on acquiring, operating, and developing oil and gas assets in the Utica shale (Ohio and Pennsylvania) and Marcellus shale (Pennsylvania). As of June 30, 2024, the company's net acreage reserves are approximately 90,000 acres, with a daily average production of 25,000 barrels of oil equivalent (Mboe/d) in the second quarter of 2024, with 29% being oil and 48% being liquid natural gas. As of December 31, 2023, the company's total proven reserves estimate is 141,587 thousand barrels of oil equivalent (MBoe), of which 48% have been developed. Infinity Natural Resources was founded in 2017 and recorded revenues of $262 million in the 12 months ending September 30, 2024. The company plans to list on the New York Stock Exchange (NYSE) under the ticker symbol INR. The joint bookrunners for this IPO include Citigroup, Raymond James, Royal Bank of Canada Capital Markets, Bank of America Corp Securities, Capital One Securities, and Truist Securities. The IPO pricing is expected to be completed during the week of January 27, 2025.