Continental Resources Expands Permian Basin Footprint with FireBird Energy Acquisition, Adding 32,000 BOED
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Continental Resources has reached an agreement to purchase FireBird Energy II LLC, a move that will bolster its Permian basin footprint by adding roughly 32,000 boed of oil-heavy production.
Backed by Quantum Capital Group, FireBird owns about 54,000 net acres in the Midland basin, situated directly next to Continental’s current holdings. The acquired assets—which produce 69% oil—feature 307 gross operated drilling locations spanning over six stacked-pay zones.
This deal marks the newest phase of Continental’s growth in the Permian. With this latest acquisition, the company has expanded its acreage in the basin by over 40% in the last 14 months.
“The Permian plays a vital role in our portfolio, and we are highly pleased with the performance of our assets and teams in the region,” stated Doug Lawler, President and CEO of Continental Resources.
Lawler noted that the FireBird properties seamlessly integrate with Continental’s current acreage while offering high-quality, oil-weighted drilling inventory across multiple stacked reservoirs.
According to Continental, the transaction encompasses approximately 147,000 net resource acres and is 95% operated. This increased scale is projected to drive operational efficiencies, enhance long-term development strategies, and optimize the company’s broader Permian operations.
FireBird has assembled its Midland basin acreage with the support of Quantum since establishing their partnership in 2023.
The acquisition is projected to close in September 2026, pending standard closing conditions. The financial details of the agreement have not been revealed.
