Infinity Adds Deal-Maker (Former Olympus Energy CEO) to Board
Infinity Natural Resources announced the appointment of Timothy Dugan to its Board of Directors, effective July 13, 2026. Dugan brings more than four decades of experience in the Appalachian energy industry, spanning upstream operations, midstream infrastructure, capital allocation, and strategic transactions. He most recently served as President and CEO of Olympus Energy, leading its sale to EQT Corporation for $1.8 billion in July 2025 (see EQT Seals the Deal, Completes Olympus Energy Purchase for $1.8B). Dugan previously was EVP and COO of CNX Resources and a director of CNX Midstream Partners. Infinity CEO Zack Arnold praised Dugan’s leadership and operational expertise. We have a take on Dugan’s addition to the Infinity board that you likely won’t read elsewhere. Read More “Infinity Adds Deal-Maker (Former Olympus Energy CEO) to Board”
The Marcellus/Utica region received 31 new drilling permits last week, June 22 – 28, the very same number issued two weeks ago! Can’t remember the last time that happened. Last week, Pennsylvania issued just 5 new permits. Ohio issued 13 new permits. West Virginia also issued 13 new permits last week. The drillers who received new permits included: Antero Resources, EOG Resources, EQT, Expand Energy, Infinity Natural Resources, Laurel Mountain Energy, and Pennsylvania General Energy. 
Yesterday, the Ohio Oil and Gas Land Management Commission (OGLMC) voted to open another 14,953 acres of publicly owned state land in eastern Ohio to safe fracking. At the same meeting, the OGLMC rejected applications to open about 8,000 acres of land in the same area for development, given the overlap between those parcels and some that were bid out. Anti-fossil fuel nutters showed up at the meeting and made asses of themselves, as they so often do. One anti (who should have been arrested and removed) shouted that the Commissioners should “jump off a bridge.” Sounds like a threat to us. Is anyone investigating? 
Infinity Natural Resources (INR), a pureplay driller focused on Appalachian shale—the Utica in eastern Ohio and the Marcellus (and Utica) in southwestern Pennsylvania—has appointed Scott McNeill to its Board of Directors. McNeill brings over two decades of experience in energy investment banking, capital markets, and operating leadership, having served as a CEO, CFO, and board member for both public and private energy companies. His background includes roles at Raymond James, RSP Permian, Switchback, and Black Mountain Sand. Infinity’s President and CEO, Zack Arnold, stated that McNeill’s expertise will be valuable as the company executes its strategy in the Appalachian Basin, focusing on the Utica and Marcellus Shales. 
We spotted a pair of press releases from M-U driller Infinity Natural Resources (INR), with the first announcing the company is floating $500 million in “senior notes” (IOUs) due in 2031, and the second, issued a short time later, revising the amount to $550 million (because of strong demand). What does it mean? Is this somehow tied to the company’s recent purchase of Antero Resources’ Ohio Utica assets (see 
In December, Antero Resources announced a deal to sell its Ohio Utica assets to a partnership of Northern Oil & Gas (NOG) and Infinity Natural Resources (INR) for $1.2 billion in cash (see 
In December, Antero Resources announced a deal to sell its Ohio Utica assets to a partnership of Northern Oil & Gas (NOG) and Infinity Natural Resources (INR) for $1.2 billion in cash (see 
The second round of big news coming from Antero Resources today is the sale of the company’s Utica Shale assets. We told you in November that Antero, the largest Marcellus/Utica (M-U) driller in West Virginia, officially began to market its Ohio Utica assets for sale (see 
Regional and national indicators are driving optimism in the Marcellus/Utica Basin, which currently supplies 31% of U.S. natural gas. Despite recent constraints from low prices and limited pipeline capacity, drillers like Infinity Natural Resources and Expand Energy now predict significant output growth coming in the new year. This resurgence is fueled by surging in-basin demand from AI data centers, major power plant conversions in Pennsylvania, and improved takeaway prospects, such as Boardwalk’s proposed Borealis pipeline to the Gulf Coast (see