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Oil & Gas Development

Delivering Value Through the Drill Bit

Our mission is clear: to maximize efficiency, minimize environmental impact, and deliver lasting value for landowners, investors, and stakeholders.

U.S. map highlighting the Williston Basin across North Dakota and Montana
  • Williams County and Divide County, North Dakota

WILLISTON BASIN

Phoenix Operating’s initial drilling efforts are centered in Williams County and Divide County, North Dakota. Utilizing 3-mile Bakken laterals, we aim to optimize operational efficiency while reducing surface disturbance.

Our Drilling Program officially launched in September 2023, a significant step in advancing energy production through innovative drilling practices in the region.

D-J Basin and
Powder River

Looking ahead, Phoenix Operating is preparing to develop acreage in Laramie County and Converse County, Wyoming. Drilling operations in these areas are anticipated to commence in the near future, with regular updates on progress provided as they become available.

U.S. map highlighting the Powder River Basin in Wyoming and the D-J Basin in Wyoming and Colorado
WELLS DRILLED
140

As of 10/15/26

WELLS PLANNED
0

Over the next 12 months

BARRELS OF OIL PRODUCED
15 M+

As of 10/15/26

Drilling Performance in North Dakota & Montana

Rockin’ in the Bakken

Map of Montana and North Dakota counties highlighting Phoenix project areas: Shogun in Roosevelt County, Alamo/Tioga in Williams and Divide Counties, Noonan/Beaver Lake in Divide County, Stanley in Mountrail County, Grasslands in McKenzie County and Knife River in Dunn County

PRODUCING

156

  • ALAMO/TIOGA: 99 wells
  • STANLEY: 22 wells
  • SHOGUN: 13 wells
  • KNIFE RIVER: 12 wells
  • NOONAN/BEAVER LAKE: 5 wells
  • GRASSLANDS: 5 wells

UNDER DEVELOPMENT

43

  • KIMONO (Shogun): 4 four-mile wells
  • BONSAI (Shogun): 2 four-mile "u-turn" wells
  • ORIGAMI (Shogun): 4 four-mile wells
  • CADDYSHACK (Noonan): 5 three-mile wells
  • SPACKLER (Noonan): 5 three-mile wells
  • DANNY NOONAN (Noonan): 5 three-mile wells
  • HERCULES (Beaver Lake): 4 three-mile wells
  • BRYNN FERRARI (Alamo): 4 three-mile wells
  • GINA FERRARI (Alamo): 5 three-mile wells
  • AKEMI FERRARI (Alamo): 5 three-mile wells

Well counts for producing and under development are as of 10/15/2026.

Bakken Drilling Records

  • LONGEST 4-MILE LATERAL
  • NYSTUEN 20-17-8-5-1H (Alamo)
  • 20,797.5 ft.
  • FASTEST-DRILLED 4-MILE LATERAL
  • WILLOW GRAY 2-11-14-23-4H (Alamo)
  • WILLOW GRAY 2-11-14-23-2H (Alamo)
  • 9.29 Days
  • FASTEST-DRILLED 3-MILE LATERAL
  • AXEL FERRARI 25-36-1-4H (Alamo)
  • 6.46 Days
Longer Laterals = Enhanced Project Economics

Chasing Records IN THE BAKKEN

4 of the fastest 3-milers

DAYS TO TOTAL DEPTH¹

6.46

AXEL FERRARI 25-36-1 4H (Alamo)
6/29/2024

6.52

JACOBSON 19-30-31 3H (Alamo)
8/22/2024

6.52

DANIELE 26-35-2 2H (Alamo)
5/9/2024

6.60

AXEL FERRARI 25-36-1 5H (Alamo)
7/8/2024

one of the
longest Laterals

ON A ONE-RUN 4-MILER

20.8K

lateral length (FT)²

NYSTUEN 20-17-8-5-1H (Alamo)
6/17/2025

4 of the fastest 4-milers

DAYS TO TOTAL DEPTH¹

9.29

WILLOW GRAY 2-11-14-23-4H (Alamo)
9/24/2025

9.71

WILLOW GRAY 2-11-14-23-2H (Alamo)
9/14/2025

9.77

WILLOW GRAY 2-11-14-23-5H (Alamo)
10/06/2025

10.38

NYSTUEN 20-17-8-5-4H (Alamo)
7/16/2025

  1. Days to total depth” (DTD or Days to TD) refers to the number of calendar days it takes to drill a well from the start of operations (spud date) to the point at which the well reaches its planned final depth
  2. Lateral length refers to the horizontal distance a wellbore extends within an oil or gas formation after drilling vertically to a targeted depth. Typical lateral lengths in modern unconventional drilling range from approximately 5,000 to 15,000 feet, enhancing reservoir contact and production efficiency.