Ian Costello
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In 2017, Ian Costello and four ambitious colleagues piled into a rented Jeep Compass and drove to New York City, chasing funding for their startup, Infinity Natural Resources. They didn’t land a deal that day, but it marked a turning point. “It signified the moment we dropped everything to chase what was only a dream at the time,” he recalls. “In hindsight, we were foolish to risk it all, but success wasn’t just a possibility once we got in that vehicle—it was a commitment we made to each other.” Eight years later, the same team returned to New York City to ring the closing bell at the New York Stock Exchange following a $1.3 billion IPO, making Infinity Natural Resources the only West Virginia-based company listed on the NYSE.
Which career milestone did you reach sooner than you had planned, and what helped you reach it earlier than expected?
I left Northeast Natural Energy as a Completions Manager to co-found Infinity as the vice president of operations. That move bypassed several traditional career steps, but the opportunity existed because we created it—and we were ready. It’s a testament to the meritocracy within the oil and gas industry: with enough ambition, the path can be forged.
Describe a memorable professional experience.
As part of INR’s first acquisition, we acquired a leasehold spanning the West Virginia–Pennsylvania border. The previous operator deemed it undevelopable due to its position on the state line. Instead, we worked with both state agencies to create a new compliance framework. In 2020 we drilled the first legally permitted horizontal well across the Mason-Dixon Line. It was our first well and a success that kicked off continuous drilling ever since.
What or whom do you credit for helping you develop leadership abilities during your career?
Early in my career, I was tasked to supervise workover projects—even though I had never done so before. Without training, I was honest with the crew about my inexperience and leveraged their expertise while sharing what metrics mattered to the operator. That mutual respect and shared learning turned into a string of successful projects. It taught me leadership isn’t about having all the answers, but about assembling the right team, aligning goals and empowering them to succeed.
Who is your mentor? What is the most valuable advice they have given you?
When I left Northeast Natural Energy, the president gave me this advice: “Focus on the variables that you can control. Any energy spent on what you can’t control will only take away from putting more value into what you can.” I find this not only important, but necessary in an industry dependent upon volatile commodity pricing and so many other uncontrolled variables.
Get to know the rest of the Forty Under 40 class of 2025.
1. I love to sail. Most weekends I live aboard and sail Lake Erie on the Infinity I, a name that mirrors our company and my love for open water. Sailing forces me to slow down—something this industry doesn’t often allow. I’m also a certified skipper and have charted sailing courses across seven countries.
2. West Virginia was Plan B. I originally pursued O&G to travel the world. Fortunately, the Marcellus Shale emerged as a world-class play during my time at West Virginia University. Ironically, I’ve never moved more than 15 miles after making that decision.
3. I came from humble roots. The first ten years of my life were spent in an 1800s farmhouse without indoor plumbing. We were financially poor, but rich in love, and the fondest memories from my childhood are from that time.