Continental Resources Buys FireBird Energy in Permian Expansion

Continental Resources Buys FireBird Energy in Permian Expansion

Continental Resources has agreed to acquire FireBird Energy II LLC, adding roughly 32,000 boed of oil-weighted production in the Permian basin, World Oil reports.

Market Impact

FireBird, a portfolio company of Quantum Capital Group, holds approximately 54,000 net acres in the Midland basin directly adjacent to Continental’s existing operations. Current production from the assets runs 69% oil, and the deal includes 307 gross operated development locations spread across more than six stacked-pay reservoirs. The package also brings in about 147,000 net resource acres and is 95% operated, according to Continental.

The acquisition marks the latest move in an aggressive buildout. Including FireBird, Continental has grown 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 add oil-weighted inventory across multiple stacked-pay zones. FireBird built its Midland basin position with Quantum’s backing since the two partnered in 2023. The deal is expected to close in September 2026, subject to customary conditions. Financial terms were not disclosed.

What It Means for Subcontractors

• West Texas drilling, completions and pipefitting crews should expect sustained work as Continental integrates 307 gross operated development locations in the Midland basin following the September 2026 close.
• Companies servicing multi-well pad development, including HDD and E&I contractors, may see opportunity as Continental applies longer-term development planning across a larger, consolidated Midland acreage position.
• Trucking, water hauling and midstream-adjacent service providers operating near Continental’s existing Permian footprint should reach out early, since the newly acquired acreage sits directly adjacent to current operations and could be folded into existing logistics contracts.
• Given Continental’s 40% Permian acreage growth over the past 14 months, subcontractors should monitor the company’s future Permian announcements closely, as this FireBird deal likely won’t be the last bolt-on acquisition driving new subcontract packages in the basin.