Quantum Energy, FireBird Energy form Permian basin partnership
(WO) – FireBird Energy II LLC has secured equity commitments in excess of $500 million anchored by funds managed by Quantum Energy Partners. The founders and employees of FireBird II, along with other strategic partners, are making significant equity commitments to the company alongside Quantum. Headquartered in Fort Worth, Texas, FireBird II will invest in oil and gas properties in the Permian Basin with a primary focus on the Midland Basin.
FireBird II was formed following the recent successful sale of FireBird Energy LLC (“FireBird I”) to Diamondback Energy, Inc. for approximately $1.6 billion in November of 2022. The company's management team will leverage its expertise in acquiring, optimizing and growing assets that has proven to be successful in prior ventures.
Travis F. Thompson, CEO and Co-Founder of FireBird II, commented, "This partnership positions our team to take advantage of a number of exciting acquisition and development opportunities throughout the Permian Basin.”
“The Permian is a strategically important region to Quantum, and we believe that FireBird II is uniquely positioned to build a platform of scale in the Basin,” said Jonathan Regan, Partner at Quantum. Blake Webster, Partner at Quantum, added.