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.