Continental Resources Targets Midland Basin Growth with FireBird Buyout

The transaction includes approximately 147,000 net resource acres spanning six stacked-pay reservoirs. Assets currently generate 32,000 barrels of oil equivalent per day, with oil accounting for 69% of the output. The acquisition brings 307 gross operated development locations under Continental’s management, a move that increases the company's total Permian acreage by more than 40% over the last 14 months.

Doug Lawler, CEO of Continental Resources, described the assets as highly complementary to their existing operations, noting that the scale allows for greater operational efficiency and long-term planning. For Quantum Capital Group, the sale marks the culmination of a three-year strategy to build a high-quality, scaled platform in the region. The deal is expected to close in September 2026, pending standard regulatory conditions. Vinson & Elkins served as legal counsel for Continental, while Jefferies, RBC Capital Markets, and Akin Gump advised FireBird.