Infinity Natural Resources Taps Cary Baetz as CFO, Succeeding David Sproule
INR sits 21% above its 52-week low of $11.13.
Summary
Infinity Natural Resources appointed Cary Baetz as EVP and CFO, effective August 12, 2026, replacing David Sproule. Baetz brings over 30 years of energy finance experience, including leading Berry Corporation's IPO. The company also named Andrew Judge as SVP of Finance.
Key Events · Executive and Board Changes · INR
-
New CFO Appointed
Effective August 12, 2026, Cary Baetz steps in as EVP and CFO with a compensation package that includes a $500,000 base salary, a target bonus of 100% of salary, and equity grants totaling $875,000 in PSUs and RSUs.
-
Outgoing CFO Severance
David Sproule resigns as CFO and will receive a severance package consisting of $1,275,000 in cash, a pro-rated 2026 bonus, a $42,731.43 COBRA payment, and pro-rata vesting of 93,356 PSUs at target.
-
Finance Leadership Expansion
Andrew Judge joins as SVP of Finance, bringing experience from Encino Energy's $5.6 billion sale and over $2 billion in capital raises.
-
Strategic Context
The CFO change follows a 79% revenue surge in Q1 2026 and a $750 million shelf registration, positioning the company for continued Appalachian Basin growth.
Analysis · INR · Energy & Transportation
Infinity Natural Resources is swapping its CFO, bringing in Cary Baetz—a veteran with deep capital markets and energy sector experience—to replace David Sproule. The transition comes as the company scales up in Appalachia, with recent strong financial results and a $750 million shelf registration in the background. Baetz's track record includes leading Berry Corporation's IPO and restructuring, signaling a focus on financial infrastructure for growth. Sproule's departure is amicable, with a severance package worth over $1.3 million in cash plus equity vesting. The market will watch whether Baetz can replicate his past success in capital raising and M&A to support Infinity's expansion.
At the time of this filing, INR was trading at $13.51 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $886.3M. The 52-week trading range was $11.13 to $19.59. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.