Infinity Natural Resources announced it acquired Chase Oil Corporation’s working interest in the company’s South Bend field in Pennsylvania in an all-stock transaction valued at about $36 million, adding producing wells, near-term volumes, and additional drilling inventory in one of its core dry gas areas.
The deal, effective January 1, 2026, covers Chase’s working interest position across Infinity’s South Bend development area in Armstrong and Indiana counties. Infinity said the acquisition marks its first use of equity as transaction currency as part of its post-IPO growth strategy and follows the company’s pending $1.2 billion acquisition of Antero Ohio announced in December.
Infinity said the assets include 18 producing wells that delivered roughly 14 MMcf/d of net natural gas production in December 2025. The company also cited three wells currently in progress that it expects to bring online in the first half of 2026, along with future drilling potential underlying 40 additional gross Marcellus locations and 38 gross Utica locations.
The transaction also adds 1,613 net acres in the Marcellus and 1,613 net acres in the Utica, which Infinity said consolidates Chase’s working interest position across its core Pennsylvania dry gas footprint. Management said the acquired leases carry high net revenue interests that are expected to contribute immediate production and EBITDA in 2026 and be accretive in 2026 and 2027.
“This strategic bolt-on acquisition allows us to use our equity currency for the first time to consolidate our core dry gas Pennsylvania position and execute our post-IPO strategy of strategic consolidation within the Appalachian Basin,” said Zack Arnold, President and CEO of Infinity. “The Transaction adds high NRI leases providing immediate production and EBITDA in 2026 while being accretive in 2026 and 2027. We remain focused on accretive growth through targeted acquisitions that complement our existing operations.”
KEY QUOTE:
“This strategic bolt-on acquisition allows us to use our equity currency for the first time to consolidate our core dry gas Pennsylvania position and execute our post-IPO strategy of strategic consolidation within the Appalachian Basin… The Transaction adds high NRI leases providing immediate production and EBITDA in 2026 while being accretive in 2026 and 2027. We remain focused on accretive growth through targeted acquisitions that complement our existing operations.”
Zack Arnold, President and CEO, Infinity Natural Resources
