Infinity Natural Resources (Ticker: INR) is a U.S.-based independent oil and natural gas producer focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. The company operates in the Utica Shale in Ohio and Pennsylvania and the Marcellus Shale in Pennsylvania, leveraging its company-owned midstream infrastructure. As of June 30, 2024, the company has amassed approximately 90,000 net surface acres and increased its operated horizontal well count to 125, with nine additional wells in progress.

The company plans to list on the NYSE on January 31, 2025. The IPO consists of 13.3 million shares priced in a range of $18.00 to $21.00, targeting proceeds of approximately $258.4 million at the midpoint of the range. The estimated market capitalization at the midpoint is $1.15 billion.

The offering is led by Citigroup, Raymond James, and RBC Capital Markets, with additional participation from BofA Securities, Capital One Securities, Truist Securities, KeyBanc Capital Markets, Stephens Inc., and others. Proceeds from the IPO are intended to support the company’s continued growth and development of its oil and gas assets.