Continental Resources Expands Permian Footprint

Continental Resources is getting substantially bigger in the Permian Basin. The privately held oil producer has agreed to acquire FireBird Energy II, adding roughly 54,000 net acres in the Midland Basin along with 32,000 barrels of oil equivalent per day (boepd) of production, Continental said Thursday. About 69% of that is oil. The FireBird assets include approximately 147,000 net resource acres across more than six stacked-pay reservoirs and 307 gross operated development locations. Continental will operate about 95% of the acquired acreage.…