Infinity Natural Resources Inc Q3 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: John Freeman - Raymond James - Analyst : Good morning, guys. Nice to see the share repurchase plan, especially with these valuations. Just maybe how y'all think about the trade-off between, share buybacks, versus, continued kind of ground game acquisitions.

Question: John Freeman - Raymond James - Analyst : Got it. And then, my follow-up question, it looks like the amount of natural gas hedges kinda went down each quarter going forward. Maybe can you just speak to that decision?

Question: John Freeman - Raymond James - Analyst : It looked like David, that the absolute like volume amount that y'all had hedged, versus y'all's prior update had gone down, the rest of 3Q4Q and then also for 4 year 26 like just the actual volumes that y'all have, gas hedges on, it looked like that went down. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 11, 2025 / 3:00PM, INR.N - Q3 2025 Infinity Natural Resources Inc Earnings Call

Question: John Freeman - Raymond James - Analyst : Thanks, David. Nice quarter, guys.

Question: Scott Hanold - RBC Capital Markets Inc - Analyst : Yeah, thanks, I appreciate the fact that it's probably too early for 2026 guidance, but. I don't know Zach, could you kind of frame it up for us a little bit? Like, should we think about like this kind of 1 to 1.5 rig pace you ran this year is a reasonable kind of trajectory and how you think about oil versus gas mix in general and you know just help us frame up for what that means on the capital side too with, the development efficiencies and everything else you're saying.

Question: Scott Hanold - RBC Capital Markets Inc - Analyst : Okay, I got that. And then, just to clarify too, and I think you said y'all reached like 47.9 MBoe per day in October. Just could you clarify that was that a peak rate or was that an average? I'm just help me kind of square the circle with. I think you said you expect to see some growth, through the 4th quarter. I think guiding them for something around 43 a day if you're up around 48, just kind of help us like walk through the timing the tills and natural declines coming off of some of the paths you've done. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 11, 2025 / 3:00PM, INR.N - Q3 2025 Infinity Natural Resources Inc Earnings Call

Question: Scott Hanold - RBC Capital Markets Inc - Analyst : Yeah, and just to clarify, is, am I correct though the implied kind of 4Q guidance is around 43 ish somewhere around there that you know if I take your full year or less what you've done here today. And.

Question: Scott Hanold - RBC Capital Markets Inc - Analyst : Got it. Thanks.

Question: Paul Diamond - Citi Infrastructure Investments LLC - Analyst : Thank you. Good morning, thanks for taking the call. Just wanted to touch back on the share buyback and it's kind of the strategy around execution. I mean, you said you think the shares are undervalued, I guess at what point would you mean further in? Is there a marker you have out there, or is it just more relative value or against the internal model? Just how to think about the. Pace and timing of that, I Guess.

Question: Paul Diamond - Citi Infrastructure Investments LLC - Analyst : Got it. Makes perfect sense. And then since IPO early this year and kind of as you've really commenced on that 1 to 1.5 kind of drill pace, and talk about anything that might have, on the either the upside or the downside surprised you about, well results versus the original expectations, the decline rates in line, the IPs, EURs, all that stuff.

Question: Paul Diamond - Citi Infrastructure Investments LLC - Analyst : Got it, understood, appreciate the time. I'll leave it there.