Infinity Natural Resources (NYSE:INR) said its first quarter was marked by a significant expansion of its Appalachian footprint, following the late-February closing of its acquisition of Antero’s Ohio Utica assets and the addition of working interests in Pennsylvania through the Chase acquisition.
President and Chief Executive Officer Zack Arnold told analysts that the transactions increased the company’s operated well count from 154 to 395 and expanded its midstream system to more than 250 miles of gathering and water pipelines. He said the assets position Infinity for “disciplined growth through the end of the decade,” while the company preserved balance sheet flexibility through financing that included perpetual preferred securities and senior notes.
