Infinity Natural Resources files audited financials for $1.2B Antero acquisition; upstream revenue fell 19% in 2025

INFINITY NATURAL RESOURCES, INC.

Upstream assets 2025 revenue $199.4M (down 19% from $246.6M in 2024) driven by lower NGL and oil sales.
Direct operating expenses fell to $120.7M in 2025 from $157.4M, leading to excess revenue of $78.6M (vs $89.2M).
Acquisition of ~80,000 gross acres in Ohio Utica Shale closed Feb 23, 2026 for combined $1.2B ($800M upstream, $400M midstream).
Pro forma financials assuming acquisition as of Jan 1, 2025 filed; midstream abbreviated financials also provided.

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