Phoenix Energy Surpasses 50,000 Barrels of Oil Per Day, Cementing Its Standing Among the Fastest-Growing Producers in the Williston Basin
Rhea-AI Summary
Phoenix Energy (PHXE), an independent oil and gas producer focused on the Williston Basin in North Dakota and Montana, reported that it surpassed a production rate of 50,000 barrels of oil per day in mid-July 2026, reaching approximately 50,700 barrels on July 19, 2026.
According to Phoenix Energy, output has expanded from roughly 100 barrels per day at the start of 2024 to more than 50,000 barrels per day, including about 60% year-over-year production growth from June 2025 to June 2026. Founded in 2019, the company credits a three-pronged strategy of direct drilling, royalty acquisition, and non-operated working interests for its rapid scaling in the Bakken region.
Positive
- Production milestone: surpassed ~50,700 barrels of oil per day on July 19, 2026
- Rapid scaling: growth from ~100 barrels per day in early 2024 to >50,000 today
- Strong YoY growth: approximately 60% production increase from June 2025 to June 2026
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
New milestone from Phoenix Energy caps a remarkable climb from roughly 100 barrels per day at the start of 2024 to more than 50,000 today.
IRVINE, Calif., July 20, 2026 (GLOBE NEWSWIRE) -- Phoenix Energy One, LLC (“Phoenix Energy” or the “Company”), an independent oil and gas exploration and production company operating primarily in the Williston Basin of North Dakota and Montana, today announced that it has surpassed a production rate of 50,000 barrels of oil per day, a defining milestone in one of the most rapid growth stories in the U.S. energy sector.
Phoenix Energy crossed the 50,000-barrel-per-day threshold in mid-July 2026, with daily production reaching approximately 50,700 barrels on July 19, 2026. The achievement reflects sustained, disciplined growth over the past few years. The Company’s output has climbed from roughly 100 barrels per day at the start of 2024, when Phoenix Energy was a nascent producer, to more than 50,000 barrels per day today. This includes year-over-year production growth of approximately
Founded in 2019, Phoenix Energy has scaled rapidly within the Bakken, one of the most prolific and strategically important oil-producing regions in the United States. The Company is now established as a prominent and fast-growing operator in the basin, and attributes its trajectory to a differentiated three-pronged strategy that combines direct drilling, royalty acquisition, and non-operated working interests. The strategy helps Phoenix Energy grow production while diversifying its exposure across the value chain.
“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. But 50,000 barrels per day is not a finish line. Instead, it is a foundation for continued responsible development and operational excellence in our quest to deliver long-term value.”
Chief Operating Officer David Scadden added, “Scaling production to this level while maintaining operational integrity requires precision throughout the organization. I couldn’t be prouder of our field and technical teams, whose execution has made this growth possible. We are excited to build on this milestone.”
Phoenix Energy publishes its most recent production statistics at phoenixenergy.com/production. To learn more about the Company and its royalty acquisition and non-operated working interests, please visit phoenixenergy.com.
About Phoenix Energy One, LLC
Phoenix Energy One, LLC, doing business as Phoenix Energy, is an energy company formed in 2019. The company is focused on oil and gas exploration and production across key U.S. basins, with a primary footprint in the Williston Basin of North Dakota and Montana. Phoenix Energy operates under a differentiated three-pronged strategy of direct drilling, royalty acquisition, and non-operated working interests.
Forward-Looking Statements
This press release contains forward-looking statements, which are statements not of historical facts and include statements regarding Phoenix Energy’s current views, hopes, intentions, beliefs, or expectations concerning, among other things, Phoenix Energy’s results of operations, financial condition, liquidity, prospects, growth, strategies, and position in the markets and the industries in which it operates. These forward-looking statements are generally identifiable by forward-looking terminology such as “expect,” “believe,” “anticipate,” “outlook,” “could,” “target,” “project,” “intend,” “plan,” “seek,” “estimate,” “should,” “will,” “approximately,” “predict,” “potential,” “may,” and “assume,” as well as variations of such words and similar expressions referring to the future.
Factors that could cause Phoenix Energy’s actual results to differ materially from the expectations described in the forward-looking statements include, but are not limited to, the factors described in the prospectus entitled “Risk Factors.” Forward-looking statements included in this press release are not guarantees of future performance, and there can be no assurance that such statements will be realized or that the forward-looking events and circumstances will occur. Any forward-looking statement made by Phoenix Energy in this press release speaks only as of the date of this press release, and Phoenix Energy undertakes no obligation to publicly update any forward-looking statement except as may be required by law.
Contact
Company: Phoenix Energy One, LLC
Email: InvestorRelations@phoenixenergy.com
Address: 18575 Jamboree Road, Suite 830, Irvine, CA 92612
Phone: 949-416-5037
