Jan 21 (Reuters) - Oil producer Infinity Natural Resources is targeting a valuation of up to $1.24 billion in its initial public offering, joining a cluster of industry players that have rushed to list their shares in recent months.

The company said on Tuesday it was aiming to raise up to $278.25 million through a sale of 13.25 million shares priced between $18 and $21 each.

Energy sector IPOs have gained momentum from a flurry of recent activity, including by LNG producer Venture Global, which is expected to list later this week after a blockbuster IPO.

A resilient economy, potential interest rate cuts and the prospect of deregulation under the Trump administration have bolstered boardroom confidence in launching IPOs.

Infinity Natural is backed by investment firms Pearl Energy Investments and NGP Capital, which hold a nearly 65.7% stake. The company's shares will list on the NYSE under the symbol "INR".

Founded in 2017, the company has oil and natural gas assets in the Appalachian Basin in the United States. Its total revenue nearly tripled in the first nine months of 2024, compared with a year earlier.

Citigroup, Raymond James and RBC Capital Markets are the joint book-running managers for Infinity's IPO.

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https://www.reuters.com/business/energy/infinity-natural-eyes-up-12-bln-valuation-us-ipo-2025-01-21/