FORT WORTH, Texas, April 21, 2023 (GLOBE NEWSWIRE) -- FireBird Energy II LLC ("FireBird II" or the "Company") today announced the Company has secured equity commitments in excess of $500 million anchored by funds managed by Quantum Energy Partners (“Quantum”). 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.
Mr. Travis F. Thompson, CEO and Co-Founder of FireBird II, commented, "We are excited to partner with Quantum and build on the momentum from the successful sale of FireBird I. Quantum shares our commitment to long-term value creation and has a track record of success across the energy industry. This partnership positions our team to take advantage of a number of exciting acquisition and development opportunities throughout the Permian Basin.”
“Travis and the FireBird II management team are proven entrepreneurs that possess strong commercial, operational and financial execution capabilities,” said Jonathan Regan, Partner at Quantum. Blake Webster, Partner at Quantum, added “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.”
About FireBird Energy II LLC
FireBird Energy II LLC is a Fort Worth, Texas based upstream oil and gas company focused on the acquisition and responsible development of assets in the Midland Basin. With a strong long-term commitment from its ownership and an innovative and experienced management team in place in both its Fort Worth and Midland offices, FireBird II is well positioned to aggressively target and execute on strategic acquisition opportunities and to develop its properties in a fiscally and socially responsible manner for the benefit of all of its stakeholders. For more information, visit the Company's website at www.firebirdenergy.com.
About Quantum Energy Partners
Founded in 1998, Quantum Energy Partners is a leading global provider of private equity, credit, structured, and venture capital to the responsibly sourced energy and energy transition & decarbonization sectors, having managed together with its affiliates more than $21 billion in capital commitments since inception. For more information on Quantum Energy Partners, please visit www.quantumep.com or contact Michael Dalton at (713) 452-2110.
