Deals

Firebird Services, LLC Files S-1 for Notes Offering

The Tip Desk · October 24, 2026 · 2 min read

The oil and gas company is offering notes to fund drilling, mineral rights, and working capital.

Firebird Services, LLC has filed an S-1 to offer notes to investors, with the company saying it will use substantially all of the net proceeds to invest in PhoenixOp or finance potential drilling and exploration operations, to purchase mineral rights and non-operated working interests and other asset acquisitions, and for working capital needs.

The company operates in the oil and gas industry on a three-pronged strategy: direct drilling of operated working interests, acquisition of royalty assets, and acquisition of non-operated working interests for exploration, development, production, and sale of crude oil, natural gas, natural gas liquids, and other byproducts through PhoenixOp, Firebird Services, and Firebird Marketing. Direct drilling is currently focused on development in the Williston Basin in North Dakota and Montana and the Powder River and Denver-Julesburg Basins in Wyoming. Royalty and working-interest acquisitions have historically targeted the Williston, Permian, Powder River, Uinta, and Denver-Julesburg Basins, and the company said it is agnostic as to geography and prioritizes operational and asset potential.

Firebird said it began operations with a specialized software system designed to identify, analyze, underwrite, transact, and manage oil and gas assets, then acquired its first mineral interest and began generating revenue. It said it has since expanded its team and, beginning in a later period, commenced direct drilling, spudding its first wells and later bringing an owned well into hydrocarbon production. The company said it expects direct drilling operations to be a core component of its business strategy going forward.

The notes will be issued in registered form, are not expected to be listed on any securities exchange or automated quotation system, and have no established public trading market. Holders may transfer notes only with the company’s prior written consent, which it may grant at its sole discretion. The company said investors must be prepared to hold the notes to maturity and must generally satisfy minimum financial suitability standards. Crescent is offering the notes on a commercially reasonable efforts basis, with sales intended to close on a weekly basis.