(WO) — Continental Resources has agreed to acquire FireBird Energy II LLC, adding approximately 32,000 boed of oil-weighted production and expanding the company’s position in the Permian basin.
FireBird, a portfolio company of Quantum Capital Group, holds approximately 54,000 net acres in the Midland basin adjacent to Continental’s existing operations. Current production is 69% oil, and the acquired assets include 307 gross operated development locations across more than six stacked-pay reservoirs.
The transaction represents the latest step in Continental’s Permian expansion. Including the FireBird acquisition, the company has increased its Permian acreage by more than 40% over the past 14 months.
“The Permian is integral to Continental’s portfolio, and we are extremely encouraged by the results we are seeing from our teams and assets in the basin,” said Doug Lawler, president and CEO of Continental Resources.
Lawler said the FireBird assets complement Continental’s existing footprint and provide additional oil-weighted development inventory across multiple stacked-pay reservoirs.
The acquisition also includes approximately 147,000 net resource acres and is 95% operated, according to Continental. The additional scale is expected to support operational efficiencies, longer-term development planning and further optimization across the company’s Permian portfolio.
FireBird has built its Midland basin position with backing from Quantum since the companies partnered in 2023.
The transaction is expected to close in September 2026, subject to customary closing conditions. Financial terms were not disclosed.
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