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How Phoenix Energy Became One of the Bakken’s Fastest-Growing Oil Producers

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How Phoenix Energy Became One of the Bakken’s Fastest-Growing Oil Producers

When an oil producer drills a record-setting well, it’s easy to call it a lucky break. But when well after well reaches new milestones, it becomes clear that more than luck is at work. Phoenix Energy’s rapid production growth over the past two years has positioned the company among the Bakken region’s fastest-growing oil producers.

In July 2026, Phoenix Energy announced it had surpassed a production rate of 50,000 barrels of oil per day after launching its oil production arm in 2024 with a rate of roughly 100 barrels per day. The increase is a defining milestone in one of the most rapid growth stories in the US energy sector. That growth has been accompanied by a significant expansion in Phoenix Energy’s producing well base, which grew from 62 wells at the end of Q2 2025 to 147 at the end of Q2 2026.

“Reaching 50,000 barrels of oil per day is an important milestone for Phoenix Energy. It reflects the discipline, focus, and hard work of our entire team,” said Adam Ferrari, Chief Executive Officer of Phoenix Energy. “In just over two years, we’ve grown from a modest production base into one of the fastest-growing producers in the Williston Basin.”

Phoenix Energy is an energy company focused on oil and gas exploration and production, operating through direct drilling, royalty acquisition, and non-operated working interests. Established in 2019, the company is headquartered in Irvine, California, with offices in Denver, Colorado; Casper, Wyoming; Dallas, Texas; and Fort Lauderdale, Florida.


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