Infinity Natural Resources: ~$64.4M Q3 hedge loss
Natural gas NYMEX swaps are listed for settlement years 2026 through 2030, alongside oil, basis, and NGL positions.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Infinity Natural Resources, Inc. (INR) reported approximately $64.4 million in total derivative losses for the quarter ended September 30, 2026. This comprised approximately $1.2 million of realized losses from cash settlements and approximately $63.2 million of non-cash mark-to-market unrealized losses on open positions. The company said the unrealized losses reflect revaluation using prevailing forward commodity price curves and do not represent current-period cash inflows or outflows. It said the contracts were entered into under its board-approved hedging strategy.
The open-contract tables cover positions scheduled to settle after September 30, 2026, across oil swaps and collars, natural gas swaps, and NGL swaps. As of that date, reported fair values included $(44.601) million for oil swaps, $(2.193) million for oil collars, $36.811 million for natural gas NYMEX swaps, and $(14.766) million for NGL swaps. The third-quarter financial and operating information is preliminary and unaudited, based on estimates and subject to completion of financial closing procedures; actual results may differ materially.
Insights
Analyzing...
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Realized derivative losses: Approximately $1.2 million loss
Non-cash mark-to-market unrealized losses: Approximately $63.2 million loss
Total derivative loss: Approximately $64.4 million loss
+5 more
8 metrics
Realized derivative losses
Approximately $1.2 million loss
Quarter ended September 30, 2026
Non-cash mark-to-market unrealized losses
Approximately $63.2 million loss
Quarter ended September 30, 2026
Total derivative loss
Approximately $64.4 million loss
Quarter ended September 30, 2026
Oil swaps fair value
$(44.601) million
As of September 30, 2026
Oil collars fair value
$(2.193) million
As of September 30, 2026
Natural gas NYMEX swaps fair value
$36.811 million
As of September 30, 2026
Natural gas basis swaps fair value
$(7.869) million
As of September 30, 2026
NGL swaps fair value
$(14.766) million
As of September 30, 2026
Key Terms
realized losses, mark-to-market unrealized losses, forward commodity price curves, basis differentials
4 terms
realized losses financial
"realized losses associated with settled derivative contracts"
Realized losses are the actual money a company or investor loses when an asset is sold for less than what was paid for it, as opposed to a paper loss that only exists on statements. Like selling a used car for less than you paid, realized losses reduce reported profits, can lower cash on hand or trigger tax benefits, and therefore directly affect a firm’s financial health and investor returns.
mark-to-market unrealized losses financial
"non-cash mark-to-market unrealized losses"
forward commodity price curves financial
"using prevailing forward commodity price curves"
A forward commodity price curve is a lineup of prices for a raw material (like oil, wheat, or copper) at different future dates, showing what the market is willing to pay months or years ahead. Think of it as a timetable of future price tags or a weather forecast for prices; it helps investors and producers judge expectations, plan hedges, value contracts, and spot whether storage or supply pressures are likely to push prices up or down over time.
basis differentials financial
"regional basis differentials"
Basis differentials are the differences in the “basis” — the gap between a local cash price and a related benchmark price (such as a futures contract or government bond) — measured across locations, grades, or contract dates. For investors, these gaps act like price tags that reveal relative value, transport or delivery costs, and short-term supply-demand imbalances; tracking them helps spot arbitrage chances, hedge risks, or judge whether a security or commodity is cheap or expensive compared with the market.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was the fair value of INR's natural gas NYMEX swaps?
The natural gas NYMEX swaps had a fair value of $36.811 million as of September 30, 2026. The table lists those swaps for settlement years 2026 through 2030.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________
FORM 8-K
__________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 14, 2026
__________________________
(Exact name of registrant as specified in its charter)
__________________________
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices, including zip code)
(304 ) 212-2350
(Registrant’s telephone number, including area code)
__________________________
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
| Item 2.02. | Results of Operations and Financial Condition. | ||||
On October 14, 2026 , Infinity Natural Resources, Inc. (the “Company”) issued a press release that includes preliminary financial and operating results for the third quarter of 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The information furnished in this Current Report on Form 8-K pursuant to Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for any purpose, including for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. | ||||
(d)Exhibits.
| Exhibit Number | Description | |||||||
99.1 | Press Release, dated October 14, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INFINITY NATURAL RESOURCES, INC. | |||||||||||
| By: | /s/ Zack Arnold | ||||||||||
| Zack Arnold | |||||||||||
| President and Chief Executive Officer | |||||||||||
Dated: October 14, 2026
Exhibit 99.1
Infinity Natural Resources Announces Third Quarter Impact of Derivative Contracts
October 14, 2026
MORGANTOWN, W.Va.-- Infinity Natural Resources, Inc. (“Infinity” or the “Company”) (NYSE: INR) today provided an update on the impact of derivative contracts for the third quarter 2026.
Impact of Derivative Contracts
For the quarter ended September 30, 2026, Infinity recognized realized losses associated with settled derivative contracts of approximately $1.2 million. These results reflect cash settlements tied to financial contracts referencing crude oil prices, natural gas prices, natural gas liquids (“NGLs”) prices and regional basis differentials.
In addition to the cash settlements recorded during the quarter, the Company recorded non-cash mark-to-market unrealized losses in its outstanding derivative portfolio of approximately $63.2 million. These unrealized losses arise from the periodic revaluation of open derivative positions using prevailing forward commodity price curves at the end of the reporting period.
Because these unrealized adjustments reflect changes in the market value of contracts that remain open, they do not represent current-period cash inflows or outflows but instead reflect the accounting remeasurement of the Company’s derivative portfolio.
Overall, the combined effect of realized settlements and unrealized valuation changes resulted in a total derivative loss of approximately $64.4 million for the quarter. These derivative contracts were entered into pursuant to our board approved hedging strategy.
The following tables summarize Infinity’s open derivative contracts scheduled to settle after September 30, 2026.
Swaps | Collars | |||||||||||||||||||||||||||||||||||||||||||
Volume | Weighted Average Price | Fair Value as of September 30, 2026 | Volume | Weighted Average Ceiling Price | Weighted Average Floor Price | Fair Value as of September 30, 2026 | ||||||||||||||||||||||||||||||||||||||
Oil (WTI) | (in MBbls) | ($ per Bbl) | (in thousands) | (in MBbls) | ($ per Bbl) | ($ per Bbl) | (in thousands) | |||||||||||||||||||||||||||||||||||||
2026 | 801 | $ | 63.71 | $ | (19,499) | 115 | $ | 78.00 | $ | 70.00 | $ | (1,275) | ||||||||||||||||||||||||||||||||
2027 | 1,710 | $ | 65.08 | $ | (24,170) | 350 | $ | 84.60 | $ | 70.00 | $ | (918) | ||||||||||||||||||||||||||||||||
2028 | 884 | $ | 70.87 | $ | (932) | — | — | — | — | |||||||||||||||||||||||||||||||||||
Total | 3,395 | $ | (44,601) | 465 | $ | (2,193) | ||||||||||||||||||||||||||||||||||||||
Swaps | ||||||||||||||||||||
Volume | Weighted Average Price | Fair Value as of September 30, 2026 | ||||||||||||||||||
Natural Gas (NYMEX) | (in MMBtu) | ($ per MMBtu) | (in thousands) | |||||||||||||||||
2026 | 8,886,000 | $ | 4.31 | $ | 9,903 | |||||||||||||||
2027 | 44,334,000 | $ | 3.91 | $ | 31,781 | |||||||||||||||
2028 | 35,370,000 | $ | 3.76 | $ | 1,019 | |||||||||||||||
2029 | 29,970,000 | $ | 3.61 | $ | (2,961) | |||||||||||||||
2030 | 26,310,000 | $ | 3.56 | $ | (2,931) | |||||||||||||||
Total | 144,870,000 | $ | 36,811 | |||||||||||||||||
Swaps | ||||||||||||||||||||
Volume | Weighted Average Price | Fair Value as of September 30, 2026 | ||||||||||||||||||
Natural Gas (Fixed Basis) | (in MMBtu) | ($ per MMBtu) | (in thousands) | |||||||||||||||||
2026 | 4,296,000 | $ | 3.12 | $ | 4,567 | |||||||||||||||
2027 | 10,372,000 | $ | 2.96 | $ | 4,922 | |||||||||||||||
Total | 14,668,000 | $ | 9,489 | |||||||||||||||||
Swaps | ||||||||||||||||||||
Volume | Weighted Average Price | Fair Value as of September 30, 2026 | ||||||||||||||||||
Natural Gas (Basis) | (in MMBtu) | ($ per MMBtu) | (in thousands) | |||||||||||||||||
2026 | 13,641,000 | $ | (0.96) | $ | (1,950) | |||||||||||||||
2027 | 29,537,000 | $ | (0.62) | $ | (3,766) | |||||||||||||||
2028 | 33,086,250 | $ | (0.51) | $ | (2,153) | |||||||||||||||
Total | 76,264,250 | $ | (7,869) | |||||||||||||||||
Swaps | ||||||||||||||||||||
Volume | Weighted Average Price | Fair Value as of September 30, 2026 | ||||||||||||||||||
NGLs | (in MBbls) | ($ per Bbl) | (in thousands) | |||||||||||||||||
2026 | 620 | $ | 35.89 | $ | (5,962) | |||||||||||||||
2027 | 1,645 | $ | 33.68 | $ | (8,396) | |||||||||||||||
2028 | 84 | $ | 57.96 | $ | (408) | |||||||||||||||
Total | 2,348 | $ | (14,766) | |||||||||||||||||
About Infinity
Infinity (NYSE: INR) is a growth oriented, independent energy company focused on the acquisition, development, production and gathering of hydrocarbons in the Appalachian Basin. Our operations are focused on the Utica Shale in eastern Ohio as well as our stacked dry gas assets in both the Marcellus and Utica Shales in southwestern Pennsylvania.
Preliminary Information
The information in this press release related to third quarter 2026 financial and operating information is preliminary and unaudited and is based on estimates and subject to completion of the Company’s financial closing procedures. Final amounts for the three months ended September 30, 2026 will be reported in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2026 or in the corresponding earnings release. Such information has been prepared by management solely based on currently available information. The preliminary information does not represent and is not a substitute for a comprehensive statement of financial and operating results, and the Company’s actual results may differ materially from these estimates because of final adjustments, the completion of the Company’s financial closing procedures, and other developments after the date of this release.
Cautionary Statement Regarding Forward-Looking Statements
This release contains statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. All statements, other than statements of historical fact, included in this release regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management, future commodity prices, future production targets, leverage targets or debt repayment, hedging strategy, future capital spending plans, capital efficiency, our ability to make share repurchases, expected drilling and completions plans and projected well costs, among other similar statements, are forward-looking statements. When used in this release, words such as “may,” “assume,” “forecast,” “could,” “should,” “will,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “budget” and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events at the time such statement was made.
Such statements are subject to a number of assumptions, risks and uncertainties, including those incident to the development, production, gathering and sale of oil, natural gas and NGLs, most of which are difficult to predict and many of which are beyond the control of the Company. These include, but are not limited to, our failure to realize, in full or at all, the anticipated benefits of capital raising transactions and acquisitions, including synergies; commodity price volatility; inflation; lack of availability and cost of drilling, completion and production equipment and services; supply chain disruption; project construction delays; environmental risks; drilling, completion and other operating risks; lack of availability or capacity of midstream gathering and transportation infrastructure; regulatory changes; the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to
capital; the timing of development expenditures; the concentration of the Company’s operations in the Appalachian Basin; difficult and adverse conditions in the domestic and global capital and credit markets; impacts of geopolitical events and world health events, including trade wars; lack of transportation and storage capacity as a result of oversupply, government regulations or other factors; potential financial losses or earnings reductions resulting from the Company’s commodity price risk management program or any inability to manage its commodity risks; failure to realize expected value creation from property acquisitions and trades; weather related risks; competition in the oil and natural gas industry; loss of production and leasehold rights due to mechanical failure or depletion of wells and the Company’s inability to re-establish production; the Company’s ability to service its indebtedness; political and economic conditions and events in foreign oil and natural gas producing countries, including embargoes, armed conflict, political instability and civil unrest, including instability in the Middle East, Venezuela and Mexico and other sustained military campaigns, the armed conflict in Ukraine and associated economic sanctions on Russia, conditions in South America, Central America, China and Russia, and acts of terrorism or sabotage; evolving cybersecurity risks such as those involving unauthorized access, denial-of-service attacks, malicious software, data privacy breaches by employees, insiders or others with authorized access, cyber or phishing-attacks, ransomware, social engineering, physical breaches or other actions; risks related to the Company’s ability to expand its business, including through the recruitment and retention of qualified personnel; and the other risks described in our filings with the U.S. Securities and Exchange Commission (the “SEC”), including our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
Please read the Company’s filings with the SEC, including “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, and in other filings we make with the SEC, for a discussion of the risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. As a result, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Therefore, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law.
Contacts
Infinity Natural Resources, Inc.
Thomas Marchetti
Vice President, Investor Relations
Email: ir@infinitynr.com
Source: Infinity Natural Resources, Inc.