v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 171,019 $ 74,476 $ 325,891 $ 159,641
Operating expenses:        
Gathering, processing, and transportation 29,401 14,515 49,124 26,585
Lease operating 10,028 5,583 18,944 12,354
Production and ad valorem taxes 1,902 3,071 4,251 3,703
Midstream operations and maintenance expense 2,359 711 3,837 1,374
Depreciation, depletion, and amortization 44,414 23,652 80,074 44,910
General and administrative [1] 12,411 5,265 33,824 137,015
Total operating expenses 100,515 52,797 190,054 225,941
Operating income (loss) 70,504 21,679 135,837 (66,300)
Other income (expense):        
Interest, net (14,733) (1,360) (20,522) (4,427)
Gain (loss) on derivative instruments 57,542 52,121 (7,592) 14,903
Other income (expense) 144 (1,075) (957) (1,138)
Net income (loss) before income tax expense (benefit) 113,457 71,365 106,766 (56,962)
Income tax expense (benefit) 5,458 (588) 5,110 (553)
Net income (loss) 107,999 71,954 101,656 (56,409)
Net income attributable to Infinity Natural Resources, LLC prior to the reorganization 0 0 0 9,914
Net income (loss) attributable to redeemable non-controlling interests 76,247 53,966 71,769 (49,742)
Net income (loss) attributable to Infinity Natural Resources, Inc. $ 31,752 $ 17,988 $ 29,887 $ (16,581)
Weighted-average common stock outstanding—basic (in shares) 18,711,659 15,237,500 18,190,162 15,237,500
Weighted-average common stock outstanding—diluted (in shares) 36,207,325 15,237,500 30,558,472 15,237,500
Net income (loss) attributable to Infinity Natural Resources, Inc.—basic (in dollars per share) [2] $ 1.35 $ 1.18 $ 1.11 $ (1.09)
Net income (loss) attributable to Infinity Natural Resources, Inc. — diluted (in dollars per share) [2] $ 0.88 $ 1.18 $ 0.98 $ (1.09)
Oil, natural gas, and natural gas liquids sales        
Revenues:        
Total revenues $ 170,410 $ 72,471 $ 321,114 $ 156,655
Midstream and other revenues        
Revenues:        
Total revenues $ 609 $ 2,005 $ 4,777 $ 2,986
[1] General and administrative expense includes a one-time share-based compensation expense of $126.1 million for the six months ended June 30, 2025, incurred in connection with the Company’s initial public offering (“ IPO”).
[2] Refer to Note 14 – Earnings Per Share to this Quarterly Report for basic and diluted earnings per share calculations.