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Infinity Natural Resources (INR) investor relations material
Infinity Natural Resources Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Achieved 39% year-over-year total production growth to 36.0 MBoe/d in Q3 2025, with natural gas production up 70% and record operational activity including 10 wells turned to sales and 3,000 net acres acquired.
Completed an IPO in early 2025, raising $286–$286.5 million in net proceeds, used to repay credit facility borrowings and resulting in public company status.
Authorized a $75 million share repurchase program in Q4 2025, targeting Class A shares and reflecting confidence in value creation.
Maintains a strong balance sheet, low leverage (net debt ~$70.8–$71 million), and robust liquidity ($304–$304.3 million), supporting disciplined growth and acquisition opportunities.
Achieved record operational efficiencies, including a 25% reduction in casing running time and a record for stages pumped in 24 hours.
Financial highlights
Q3 2025 net income was $40.0 million, with adjusted EBITDA/EBITDAX of $60.0 million and an adjusted EBITDA/EBITDAX margin of $18.12 per Boe.
Q3 2025 revenues totaled $79.7 million, up from $69.2 million in Q3 2024; oil, natural gas, and NGL sales for the nine months ended September 30, 2025 reached $234.9 million.
Cash operating costs declined to $6.09 per Boe from $9.42 per Boe year-over-year; Q3 2025 operating costs per Boe were $16.84, down from $19.36 in Q3 2024.
Capital expenditures for Q3 2025 were $95 million, including $83.2 million for development and $11.8 million for land; nine-month 2025 capital expenditures totaled $263.8 million.
Net debt as of September 30, 2025 was $70.8–$71 million, with liquidity of $304–$304.3 million and a $375 million borrowing base.
Outlook and guidance
Raised full-year 2025 net daily production guidance to 33.5–35 MBoe/d, narrowing to the high end of the previous range, based on strong well performance.
Updated 2025 development capital expenditure guidance to $270–$292 million, within the higher end of prior guidance.
On track to turn in line 23 wells in 2025, with a balanced oil and gas mix, and positioned for continued active development into 2026.
Management expects continued commodity price volatility and will use hedging to mitigate risk.
Sufficient liquidity is projected to fund operations and meet obligations for at least the next year.
Share repurchase program's capital allocation role
Future G&A trend post-IPO compensation charge
Long-term oil and natural gas production mix
How will share buyback impact capital allocation?
Frame 2026 development pace and commodity mix
CapEx increase: well costs or activity drivers?
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Next Infinity Natural Resources earnings date
Q4 202527 Mar, 2026
Next Infinity Natural Resources earnings date
Q4 202527 Mar, 2026
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