Infinity Natural Resources announced the acquisition of upstream and midstream assets in Ohio from Antero Resources Corporation for $1.2 billion.
The addition of Antero's Ohio Assets solidifies Infinity's leading position in the Utica Shale.
The transaction is subject to customary purchase price adjustments and closing conditions with an effective date of July 1, 2025.
Significant Addition to Top Tier Utica Acreage Position
Infinity will control ~102k Ohio net horizontal Utica Shale acres with ~1.4 Tcfe of undeveloped net reserves.
Captures Vertical Integration Benefits
Acquisition includes ~141 miles of gathering lines supporting 600 mmcf/d and ~90 miles of water lines, reducing operating costs.
Delivers Significant Operational and Financial Synergies
Estimated $25 million of synergies expected in 2026 driven by lower operating costs and complementary acreage positions.
Immediately Accretive and Value Enhancing
Accretive across key financial metrics, including Adjusted EBITDAX margins, cash flow per share, and net asset value per share.
Strong Growth with Financial Discipline
Expected to complement Infinity's best in class production growth amongst Appalachian peers for 2026 and 2027, creating a path to <1.0x net leverage by YE 2027.
- This transformational acquisition is the largest in Infinity's history, enhancing operational scale and competing for capital immediately.
- The addition of strategic midstream infrastructure provides a growth engine for the company, delivering operational and financial synergies.
- Antero Ohio Assets offer a substantial inventory depth with over 110 low break-even locations across multiple development windows.
The acquisition of Antero's Ohio Assets marks a significant milestone for Infinity Natural Resources, positioning them for strong growth and operational efficiency in the Utica Shale region.