Infinity Natural Resources has successfully raised $265m through its initial public offering (IPO) in the US.

The US-based oil and natural gas producer is now valued at approximately $1.18bn.

The offering, expected to close on 3 February 2025, is subject to customary closing conditions.

Infinity sold nearly 13.3 million shares at $20 each in the IPO, with the pricing being within the previously marketed range of $18–21.

Founded in 2017, Infinity's operations are primarily located in the Appalachian basin in the north-eastern US.

Infinity launched the IPO after more than doubling its revenue in the first nine months of 2024, fuelled by higher oil production volumes from wells purchased in October 2024 for $279m from Utica Resources Ventures and PEO Ohio.

For its IPO, Infinity engaged 14 banks and is set to begin trading on the New York Stock Exchange under the symbol 'INR'.

Citigroup, Raymond James and RBC Capital Markets led the underwriting for the offering.

Post IPO, Infinity plans to use the proceeds to repay outstanding debt and for other corporate purposes.

Pearl Energy Investments and NGP, the buyout companies backing Infinity, will retain a substantial majority of the common stock and voting power after the offering.

Infinity's IPO follows other energy-related public offerings in New York, including Flowco and liquefied natural gas exporter Venture Global.

Flowco Holdings launched an IPO, aiming for a $1.9bn valuation with a $392m raise through 17.8 million shares priced at $21–23 each.

Venture Global LNG also plans to lower its US IPO price range to $32–38 per share while increasing its offering from 50 million to 62 million shares.