Fort Worth-based FireBird Energy said last week it acquired operated assets in Midland Basin from Chevron USA and Chevron Midcontinent. The transaction for about 21,000 net acres (99 percent operated) in Crane, Ector, Midland and Upton counties closed Dec. 30. FireBird now will have about 72,000 gross acres with about 11,500 boed.
Travis F. Thompson, CEO, said, “This transaction will be our second major acquisition as we continue to advance our consolidation strategy and enhance our western Midland Basin footprint with additional scale. The acquisition of these high-margin, oil-weighted assets is a complementary addition to our acreage footprint, production and cash flow.” FireBird presently operates more than 450 vertical and horizontal wells in Midland Basin.