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[8-K] INFINITY NATURAL RESOURCES, INC. Reports Material Event

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(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Infinity Natural Resources, Inc. reported that its hedging program generated an estimated total derivative loss of approximately $65 million for the quarter ended March 31, 2026. This reflects realized cash losses of about $18 million on settled crude oil, natural gas and NGL contracts, plus non-cash unrealized losses of about $47 million from revaluing open positions using forward commodity price curves.

The company disclosed detailed hedge positions, including multi-year oil, natural gas, NGL and basis swaps and collars extending through 2031, with a mix of positive and negative fair values as of March 31, 2026. Management highlighted that these preliminary, unaudited figures are subject to change when full quarterly results are finalized.

Positive

  • None.

Negative

  • None.

Insights

Q1 2026 hedge book swings to a sizable derivative loss but largely accounting-driven.

The company estimates total Q1 2026 derivative losses of $65 million, split between $18 million realized cash settlements and $47 million non-cash unrealized mark-to-market losses. These stem from oil, gas, NGL and basis hedges tied to forward commodity price curves.

Realized losses reduce Q1 cash flow, while unrealized losses mainly reflect lower paper values on open positions rather than current cash outflows. The hedge book remains sizable, with oil swaps totaling 3,880 MBbls and natural gas fixed-price swaps totaling 196,842,000 MMBtu across 2026-2031.

Actual impact on future results will depend on subsequent commodity prices and how these multi-year hedges interact with production volumes disclosed in the upcoming Q1 2026 10-Q or earnings release.

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, and exhibit attachments filed with this report.
Realized derivative loss approximately $18 million Cash losses on settled derivative contracts, quarter ended March 31, 2026
Unrealized derivative loss approximately $47 million Non-cash mark-to-market loss on open derivatives, Q1 2026
Total derivative loss approximately $65 million Combined realized and unrealized derivative losses, Q1 2026
Oil swaps volume 3,880 MBbls Total WTI swap hedges outstanding as of March 31, 2026
Oil swaps fair value $(42,287) thousand Fair value of oil swap derivatives as of March 31, 2026
Gas fixed-price swaps volume 196,842,000 MMBtu Total natural gas fixed-price swaps as of March 31, 2026
Gas fixed-price swaps fair value $30,411 thousand Fair value of natural gas fixed-price swaps as of March 31, 2026
NGL swaps fair value $(6,171) thousand Fair value of NGL swap derivatives as of March 31, 2026
derivative contracts financial
"Infinity Natural Resources Announces First Quarter Impact of Derivative Contracts"
Derivative contracts are agreements whose value depends on the price or outcome of something else—an underlying asset or event like a stock, bond, commodity, interest rate, or market index. They matter to investors because they can be used to protect against losses (like insurance), to place targeted bets, or to amplify gains and losses; therefore derivatives can change a portfolio’s risk and potential return without buying the underlying asset directly.
unrealized losses financial
"the Company recorded non-cash unrealized losses in its outstanding derivative portfolio of approximately $47 million"
Unrealized losses are the drop in value of an investment you still own — the “on-paper” loss you would have if you sold it right now. Think of it like a car that’s worth less than what you paid: the loss exists, but it only becomes real if you sell. Investors care because unrealized losses reduce net worth, can lead to margin calls or forced selling, and affect financial reporting without triggering taxes until a sale.
basis differentials financial
"contracts referencing crude oil prices, natural gas prices, and 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.
hedging strategy financial
"These derivative contracts were entered into pursuant to our board approved hedging strategy"
A hedging strategy is a planned set of actions an investor uses to reduce the risk of losing money from an existing investment, similar to buying insurance or carrying an umbrella to limit damage if something goes wrong. It matters because it helps protect a portfolio against price swings, currency moves, or other shocks while still allowing for upside, so investors can manage uncertainty without abandoning their long‑term goals.
forward commodity price curves financial
"using prevailing forward commodity price curves at the end of the reporting period"
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.
emerging growth company regulatory
"Emerging growth company x"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Realized derivative loss $18 million
Unrealized derivative loss $47 million
Total derivative loss $65 million
Understanding 8-K Material Events →
FALSE000202911800020291182026-04-172026-04-17

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): April 17, 2026
__________________________
INFINITY NATURAL RESOURCES, INC.
(Exact name of registrant as specified in its charter)
__________________________
Delaware001-4249999-3407012
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(I.R.S. Employer
Identification No.)
2605 Cranberry Square
Morgantown, WV 26508
(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:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-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 classTrading
Symbol(s)		Name of each exchange
on which registered
Class A common stock, par value $0.01 per shareINRThe New York Stock Exchange
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 April 17, 2026, Infinity Natural Resources, Inc. (the “Company”) issued a press release that includes preliminary financial and operating results for the first 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 April 17, 2026.
104Cover 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: April 20, 2026

Exhibit 99.1
image_0.jpg
Infinity Natural Resources Announces First Quarter Impact of Derivative Contracts
April 17, 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 first quarter 2026.

Impact of Derivative Contracts

For the quarter ended March 31, 2026, Infinity recognized realized losses associated with settled derivative contracts of approximately $18 million. These results reflect cash settlements tied to financial contracts referencing crude oil prices, natural gas prices, and regional basis differentials.

In addition to the cash settlements recorded during the quarter, the Company recorded non-cash unrealized losses in its outstanding derivative portfolio of approximately $47 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 estimated total derivative losses of approximately $65 million for the quarter. These derivative contracts were entered into pursuant to our board approved hedging strategy.

The following tables provide information about our derivative financial instruments as of March 31, 2026.



Swaps




Collars


 
Volume

Weighted Average Price

Fair Value as of
March 31, 2026

Volume
Weighted Average Ceiling Price
Weighted Average Floor Price
Fair Value as of
March 31, 2026
Oil (WTI)
(in MBbls)

($ per Bbl)

(in thousands)

(in MBbls)
($ per Bbl)
($ per Bbl)
(in thousands)
2026
1,851

$
63.58

$
(32,059)

219
$
78.00
$
70.00
$
(1,255)
2027
1,597

$
63.22

$
(10,515)

35
$
78.00
$
70.00
$
(54)
2028
408

$
67.95

$
236

—
—
—
—
2029
24

$
68.37

$
51

—
—
—
—
2030
—

—

—

—
—
—
—
Total
3,880



$
(42,287)

254


$
(1,199)








Swaps


 
Volume

Weighted Average Price

Fair Value as of
March 31, 2026
Natural Gas (Fixed Price Swaps)
(in MMBtu)

($ per MMBtu)

(in thousands)
2026
44,756,000

$
3.64

$
27,448
2027
56,419,000

$
3.76

$
7,039
2028
36,647,000

$
3.77

$
(1,302)
2029
30,320,000

$
3.62

$
(981)
2030
26,580,000

$
3.57

$
(1,421)
2031
2,120,000
$
4.08
$
(372)
Total
196,842,000



$
30,411




Swaps


 
Volume

Weighted Average Price

Fair Value as of
March 31, 2026
Natural Gas (Basis)
(in MMBtu)

($ per MMBtu)

(in thousands)
2026
40,690,000

$
(0.93)

$
(3,835)
2027
31,629,000

$
(0.64)

$
(1,291)
2028
32,603,750

$
(0.52)

$
250
2029
2,607,500

$
(0.30)

$
234
2030
—

—

—
Total
107,530,250



$
(4,642)






Swaps


 
Volume

Weighted Average Price

Fair Value as of
March 31, 2026
NGLs
(in Mbbls)

($ per Bbl)

(in thousands)
2026
1,307,357

$
33.50

$
(5,040)
2027
1,729,476

$
33.97

$
(1,115)
2028
117,738

$
29.30

$
(16)
2029
—

—

—
2030
—

—

—
Total
3,154,571



$
(6,171)




About Infinity
Infinity (NYSE: INR) is a growth oriented, independent energy company focused on the acquisition, development, and production 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 first 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 March 31, 2026 will be reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 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 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.


Source: View Original Filing on SEC EDGAR

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