FORT WORTH, TX – FireBird Energy has completed an acquisition of operated assets located in the Midland Basin from Chevron U.S.A. Inc. and Chevron Midcontinent, L.P. Leaseholdings included in the transaction total approximately 21,000 acres.
Travis F. Thompson, CEO of FireBird, 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 base. The Acquisition includes approximately 21,000 net acres (99% operated) in Ector, Midland, Crane, and Upton Counties. We expect to benefit from additional operating synergies when production operations are combined with our base asset.”
Source: www.worldoil.com
Author: World Oil