Infinity Natural Resources, Inc. Announces Launch of Initial Public Offering
Comments Off on Infinity Natural Resources, Inc. Announces Launch of Initial Public Offering[Original Article at BusinessWire]
MORGANTOWN, W. Va.–(BUSINESS WIRE)–Infinity Natural Resources, Inc. (“Infinity”) announced today the launch of its initial public offering of 13,250,000 shares of Class A common stock, par value $0.01 per share (the “Common Stock”), at an anticipated initial public offering price between $18.00 and $21.00 per share of Common Stock. Infinity will also grant the underwriters an option to purchase up to an additional 1,987,500 shares of Common Stock at the initial public offering price, less underwriting discounts and commissions. Infinity has been authorized to list its shares of Common Stock on the New York Stock Exchange (“NYSE”) under the ticker symbol “INR,” subject to official notice of issuance.
Citigroup, Raymond James and RBC Capital Markets are acting as joint book-running managers for the offering. BofA Securities, Capital One Securities and Truist Securities are also acting as joint book-running managers. KeyBanc Capital Markets and Stephens Inc. are acting as senior co-managers. Comerica Securities, Fifth Third Securities, First Citizens Capital Securities and BTIG are acting as co-managers. BOK Financial Securities, Inc. and Zions Capital Markets are acting as junior co-managers. The offering of these securities is being made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. When available, a copy of the preliminary prospectus may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 800-831-9146; Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at 800-248-8863 or by email at prospectus@raymondjames.com; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, New York 10281, by telephone at 877-822-4089 or by email at equityprospectus@rbccm.com.
Important Information
A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “Infinity Natural Resources, Inc.” This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Infinity
Infinity is a growth oriented, free cash flow generating, independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. Our operations are focused on the volatile oil window of the Utica Shale in eastern Ohio as well as our stacked dry gas assets in both the Marcellus and Utica Shales in southwestern Pennsylvania.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements”. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. These forward-looking statements include statements regarding the commencement of trading of the Common Stock on the NYSE and the size, expected price range, timing or results of the initial public offering. These forward-looking statements represent Infinity’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, and they are subject to risks, uncertainties and other factors, many of which are outside of Infinity’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including those described in the registration statement.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Infinity does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Infinity to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Infinity’s initial public offering. The risk factors and other factors noted in Infinity’s prospectus could cause its actual results to differ materially from those contained in any forward-looking statement. You are cautioned not to place undue reliance on these forward-looking statements.
Contacts
Infinity Natural Resources, Inc.
Gregory Pipkin Jr.
Vice President of Corporate Development and Strategy
ir@infinitynr.com
INR Expands Footprint in Core Utica Oil Window
Comments Off on INR Expands Footprint in Core Utica Oil WindowOn Monday, February 26, 2024, the Ohio Oil and Gas Land Management Commission awarded a bid to Infinity Natural Resources, LLC to lease two parcels of land and drill in Salt Fork State Park in Guernsey County, Ohio.
“We are honored and excited to have been awarded these leases. We recognize the responsibility entrusted to us by the community, the ODNR and other stakeholders in Ohio. It is a privilege to live, work and call this region home. We place the highest priority on safety and environmental protection, and are fully committed to operating with transparency, accountability, and respect. As the process moves forward, we look forward to working together with local stakeholders to strengthen the community and economy across the Guernsey County region.”
– Zack Arnold, President and CEO, Infinity Natural Resources
Looking to the Future in 2023
Comments Off on Looking to the Future in 2023The past several years have certainly come with a unique set of challenges for everyone. Our dedicated team at Infinity Natural Resources can proudly say our experience and perseverance have allowed us to overcome those challenges, exceed production goals, and double our team. Our company’s growth and achievements are a testament of success to Infinity’s core values and safety-focused practice.
In 2020, Infinity Natural Resources drilled and completed our first wells, Coastal 2H and 4H, both of which were turned online in January of 2021. By 2022, INR successfully acquired producing assets in Ohio and spud 12 additional wells throughout our assets in Pennsylvania and Ohio. We now operate over 60 wells and are continuing our active development. In December of 2022, we achieved a production milestone of 100 MMCFD and 5,000 BPOD. We anticipate continuing our steady growth and successful operations in 2023 and the years to follow.
We firmly believe natural gas will act as a vital source of clean energy to serve our Nation’s growing demand. We also believe Infinity Natural Resources’ extensive experience in the Appalachian Basin will allow for our continued growth, and providing a continued opportunity for our team members, sponsors, business partners and community, as we continue to provide a clean domestic energy source.
High Steaks at the Carroll County Junior Fair
Comments Off on High Steaks at the Carroll County Junior FairAt Infinity Natural Resources we are committed to setting a standard for community involvement. We understand the importance of supporting our neighbors and strive to give back to the people and communities that are vital to INR’s success. We are excited by opportunities to get our hands dirty and are doing our part to make the future a better place. INR’s deep ties to Appalachia influence its belief in cultural sustainability by both creating and preserving traditions within the Basin.
One of our favorite new traditions is our involvement with the Carroll County Junior Fair in Carrollton, Ohio. In 2021, INR was able to submit the winning bid on the Grand Champion Hog. In 2022, we were able to secure the winning bid on the Grand Champion Steer. We look forward to our continued participation and the opportunity to support the future generation’s stewardship and service.
 |
 |
Infinity’s CEO Zachary Arnold Honored as 2021 Young Gun by WV Executive Magazine
Comments Off on Infinity’s CEO Zachary Arnold Honored as 2021 Young Gun by WV Executive MagazineOur team at Infinity Natural Resources is proud to announce that our CEO, Zachary Arnold, has been selected as a 2020 Young Gun by the West Virginia Executive Magazine. And not only that, but was also selected as the cover picture, representing this year’s class on the magazine. From our entire team at Infinity, we congratulate you on this achievement, and appreciate your continued leadership, vision, and drive.
For those who are not familiar, or who have not seen this year’s copy of the WV Executive Young Gun Awards, be sure to click here to read the full article.
In regards to the award, here is how the WV Executive Magazine describes what it takes to be selected for this recognition.
What does it take to become part of West Virginia Executive (WVE) magazine’s elite history of Young Guns? It’s more than just a nomination based on career success and a dedication to community service—though these certainly factor in. It involves a heart of gold mixed with the Mountaineer spirit. WVE recognizes the determination it takes to balance service to one’s community with simultaneous career excellence while also prioritizing family.
Perhaps as synonymous as gold and blue and green and white in the Mountain State is WVE and Young Guns: these two titles have gone hand in hand for more than 20 years. The Young Guns honors program was created to shine a light on those who selflessly serve others and work hard to ensure the Mountain State excels at all levels. These standouts rarely stop to consider themselves, focusing instead on how their work will affect the lives of others. WVE works to give these Young Guns, who personify the very ideals that make West Virginia so special, a moment in the spotlight and the recognition they deserve.
2021 Includes Continued Growth and Expansion for Infinity Natural Resources
Comments Off on 2021 Includes Continued Growth and Expansion for Infinity Natural ResourcesWhile 2020 certainly had its challenges, our team at Infinity Natural Resources was able to continue to push forward, drilling and completing our first wells, Coastal 2H & 4H. These wells were then turned online January 2021.
As we continue to push into 2021, our team has been working diligently, to plan and permit six additional wells set for near term development. Despite a challenging political climate, Natural Gas remains a bridge fuel for where we stand today, and where we want to be tomorrow, and are excited to develop these additional sites. Natural Gas provides a continued opportunity for our team members, sponsors, business partners and community, as we continue to provide a clean domestic energy source.
