FireBird Energy

What FireBird Energy does

FireBird Energy is a private upstream oil and gas company headquartered in Fort Worth, Texas, focused on the acquisition and development of oil and gas assets in the Midland Basin segment of the Permian Basin. The original entity, FireBird Energy LLC, was founded in 2019 by Travis F. Thompson and grew to operate more than 1,000 vertical and horizontal wells before being acquired by Diamondback Energy in November 2022 for approximately $1.6 billion. Following the exit, the management team formed FireBird Energy II LLC in April 2023 as a continuation vehicle, securing equity commitments exceeding $500 million anchored by private equity firm Quantum Energy Partners.

The company generates revenue through the production and sale of crude oil and natural gas from operated properties in the Midland Basin, selling to refineries and midstream processors at prevailing market prices. Its business model combines asset acquisition — targeting underperforming or underutilized properties — with operational optimization, with the strategic option to either operate assets long-term or divest them at premium valuations as demonstrated by the FireBird I exit to Diamondback. FireBird maintains a dual-office footprint with corporate leadership in Fort Worth and operational support in Midland, Texas. A 6.5-megawatt solar photovoltaic facility developed in partnership with Priority Power Management (announced June 2021) supplies renewable power to operations under a 10-year power purchase agreement, positioning the company with an ESG-conscious operating profile relative to traditional upstream peers.

The management team brings 20+ years of Permian Basin operating experience, with executives previously at RSP Permian, Concho Resources, XTO Energy, and Black Mountain Oil & Gas. Key personnel include Travis F. Thompson (CEO, co-founder of Torch Operating), Ben Lucas (COO, ex-RSP Permian/XTO), Steven Loh (CFO, ex-RedBird Capital/RSP Permian), and Charles Moltz (CDO, ex-Concho Resources/RSP Permian). The company distributes revenue to working interest and royalty owners through the EnergyLink platform. Core technical capabilities are traditional upstream — vertical and horizontal drilling, reservoir engineering, and production optimization — rather than technology-platform differentiated.

Name

FireBird Energy

Legal name

FireBird Energy LLC

Website

https://firebirdenergy.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

FireBird Energy is a Fort Worth-based private upstream oil and gas company focused on acquiring and developing oil and gas assets in the Midland Basin. Founded in 2019, the successor entity FireBird II is backed by Quantum Energy Partners with over $500 million in equity commitments to redeploy capital into Permian Basin opportunities.

Ownership category

akta.pro rank

Headquarters

HQ city

Fort Worth

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Oil and Gas Production Revenue: FireBird Energy generates revenue through the production and sale of oil and natural gas from its operated properties in the Midland Basin. The company operates over 1,000 vertical and horizontal wells. Revenue is derived from the sale of produced hydrocarbons to refineries and midstream processors at market prices.
2. Asset Acquisition and Development: The company grows through strategic acquisition of oil and gas assets, optimizing operations, and either divesting (as seen with FireBird I sale to Diamondback for $1.6B) or continuing to operate and generate production revenue.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

FireBird Energy is an upstream oil and gas company that acquires, develops, and operates oil and gas assets in the Midland Basin of the Permian Basin. Through its successor entity FireBird Energy II LLC, the company operates more than 1,000 vertical and horizontal wells, sells produced hydrocarbons to refineries and midstream processors at market prices, and pursues strategic acquisitions of underperforming Midland Basin properties for optimization, long-term operation, or divestiture.

Product overview

FireBird Energy operates as an upstream oil and gas company focused on the acquisition and responsible development of assets in the Midland Basin. The original entity, FireBird Energy LLC, was founded in 2019 and operated over 1,000 vertical and horizontal wells before being acquired by Diamondback Energy in November 2022 for approximately $1.6 billion. A successor entity, FireBird Energy II LLC, was formed in 2023 with a $500+ million equity commitment from Quantum Energy Partners to continue the company's strategy of acquiring and developing oil and gas properties in the Permian Basin.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude oil and natural gas production from operated Midland Basin wells Crude oil, natural gas, and natural gas liquids produced from more than 1,000 operated vertical and horizontal wells in the Midland Basin, sold to refineries and midstream processors at prevailing market prices.
• FireBird Energy II LLC upstream oil and gas operations Successor upstream oil and gas entity headquartered in Fort Worth, Texas, focused on acquisition and development of Permian Basin assets with primary focus on the Midland Basin, backed by $500+ million in equity commitments from Quantum Energy Partners.

Quantifiable outcome

• Operates over 1,000 vertical and horizontal wells in the Midland Basin
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Priority Power ManagementcoreStrategic or Co-development Partner · 29 June 2021FireBird Energy entered into a Solar Development Services Agreement with Priority Power for a 6.5-megawatt solar photovoltaic facility on 50 acres of FireBird's land near Odessa, Texas. Priority Power develops, finances, engineers, constructs, operates, and maintains the solar facility without upfront cost to FireBird. FireBird enters into a 10-year Power Purchase Agreement for the renewable energy produced. The project will deliver an estimated 136 million kilowatt hours of clean power and avoid nearly 54,000 metric tons of CO2 emissions over its lifetime.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Matador Resources: Independent E&P with material operations in the Permian/Delaware and a similar asset-acquisition growth strategy; useful comparables for Midland Basin well economics and capital intensity.
• Mewbourne Oil Company: Private, family-owned Permian-focused upstream operator; closely comparable to FireBird in operating model (private, Permian-focused, multi-basin expertise from a tight leadership team) and asset base.
• HighPeak Energy: Public Permian-focused E&P formed via a private equity roll-up, very similar in structure to FireBird II — backed by a major PE sponsor, acquiring and developing Midland Basin assets with a small, experienced team.
• Double Eagle Energy Holdings: Private equity-backed Permian Basin pure-play E&P with a similar acquisition-and-develop playbook in the Midland sub-basin; directly comparable business model and target acreage.
• Bayswater Exploration & Production: Private, PE-backed upstream operator with multi-basin U.S. operations including the Permian; comparable in capital structure, sponsor backing, and acquisition-driven growth model.
• Laredo Petroleum: Independent Permian-focused operator historically centered on the Midland Basin; comparable asset base, target geology, and exposure to WTI pricing dynamics.

Broad incumbents

• Diamondback Energy: Large independent E&P with a Permian Basin core; acquired FireBird I for $1.6B in 2022 and operates in the same Midland sub-basin, providing a direct precedent for asset valuation and exit benchmark.
• Pioneer Natural Resources (now part of ExxonMobil): Was the dominant pure-play Midland Basin operator prior to its ExxonMobil acquisition; remains a key comparable for well productivity, A&D multiples, and basin-level operating benchmarks in the Midland.
• Coterra Energy: Diversified independent E&P with significant Permian Basin acreage among its portfolio; comparable as a larger incumbent operating in the same geography with similar hydrocarbon mix.

Emerging players

• Forte Energy Partners: Private equity-backed upstream vehicle with Permian focus and an acquisition-and-develop model analogous to FireBird II; relevant as a similarly structured emerging peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/firebird-energy-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FireBird Energy