Infinity (INR, Financial) reported first-quarter revenue of $85.2 million, surpassing the consensus estimate of $79.9 million. The company achieved a 13% increase in production from the fourth quarter of 2024, reaching approximately 26.5 MBoe/d. This was attributed to the robust performance of wells across its asset portfolio. Despite facing challenges from unexpectedly cold weather in the Northeast, which affected operating costs and equipment needs, Infinity maintained high production levels and accelerated the timeline for bringing new wells online.
Zack Arnold, President & CEO, highlighted the company's operational excellence and strategic flexibility. Infinity's ability to adjust between oil and natural gas development, supported by a strong balance sheet, allows it to fund growth through cash flow while exploring strategic value-enhancing opportunities. As they proceed into the second quarter, the company is on track with its development plans for 2025.
With the macroeconomic environment experiencing shifts and oil price outlooks uncertain, Infinity is prioritizing its natural gas projects. The company plans to construct a new pad in the second quarter and commence drilling by summer. Additionally, they are reevaluating their oil-focused development strategies for later in the year, remaining adaptable based on potential project returns.
