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INFINITY NATURAL RESOURCES INC has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. The company has amassed approximately 93,000 net surface acres with exposure to the core of these plays.
For the year ended December 31, 2024, the company reported total oil, natural gas, and NGL sales of $257.7 million, a 62% increase compared to the previous year. This increase was primarily driven by higher production volumes.
Net production volumes for oil increased by 98%, natural gas by 3%, and NGLs by 55% year-over-year. The company placed 14 new wells into production in 2024.
Operating expenses for the year totaled $165.3 million, up 52% from the previous year, with notable increases in gathering, processing, and transportation costs, as well as lease operating expenses.
The company reported a net loss on derivative instruments of $22.0 million for the year, compared to a gain of $45.3 million in the previous year, reflecting changes in commodity prices.
Infinity completed its initial public offering (IPO) in February 2025, raising net proceeds of approximately $286.5 million, which were used to repay outstanding borrowings under its Credit Facility.
The company’s operations are concentrated in the Appalachian Basin, making it susceptible to regional supply and demand factors and regulatory changes.
Infinity's financial results are significantly impacted by commodity prices, which have been volatile and are expected to remain so. The company uses derivative instruments to hedge against price fluctuations.
The filing also highlights risks related to environmental regulations, cybersecurity threats, and potential changes in tax laws that could impact the company’s operations and financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the INFINITY NATURAL RESOURCES INC INR annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.