Independent oil and gas companies can spend years, even decades, building enough production to become a meaningful operator in a competitive basin. Phoenix Energy recently reaching 50,000 BPD illustrates how the Company reached that milestone in just a few years.
Phoenix Energy surpassed 50,000 barrels of oil per day, reaching approximately 50,700 barrels on July 19, 2026.1 The number itself is not as remarkable as the speed of the climb behind it. As noted in the recent press release, at the start of 2024, Phoenix Energy was producing roughly 100 barrels per day. In little more than two years, the company’s output has scaled by more than two orders of magnitude. This trajectory has positioned Phoenix Energy as one of the fastest-growing oil and gas companies in the United States.
Below, we will share details on how Phoenix Energy has emerged as a record-setting operator in the Bakken, one of the most important oil-producing regions in the country, in just over 7 years.
Growth Backed by Results
The term “rapid growth” can be a difficult business claim to document as it’s often overused by the media. Phoenix Energy’s growth, however, is visible directly in its production record and public financial filings with the U.S. SEC. Daily output climbed steadily and then steeply over the past two years, reaching more than 50,000 barrels per day by mid-July 2026 from a base of about 100 barrels in early 2024. Year-over-year, production grew approximately 60% between June 2025 and June 2026, demonstrating an acceleration rather than a plateau for Phoenix Energy.1
This kind of growth has attracted attention outside the company. Phoenix Energy was ranked 33rd on the Financial Times’ list of America’s Fastest-Growing Companies,2 placing it among high-growth U.S. businesses across every sector and positioning it as one of the fastest-growing oil and gas companies in America.2 For an independent exploration and production company operating in a mature basin, that ranking is a signal that Phoenix Energy’s growth reflects its operational performance demonstrated to date.
Recognition Beyond the Balance Sheet
The Financial Times ranking matters because of what it measures: sustained revenue growth, verified independently, against a national field. Landing at number 33 on that list places Phoenix Energy in the company of the most dynamic businesses in the United States and near the very top among energy producers.
For an oil and gas company, growth of this kind depends on more than favorable commodity prices. It requires a repeatable model for putting productive wells online quickly and economically. This is an area where Phoenix Energy has distinguished itself, and it is the operational core of the growth story.
Longer Laterals, Better Economics
A significant driver of Phoenix Energy’s production growth has been its embrace of longer horizontal laterals, a strategy the company summarizes plainly in its public presentations as “longer laterals equal enhanced project economics.” 3
A lateral is the horizontal section of a well that extends through the oil-bearing rock. Typical modern unconventional laterals range from roughly 5,000 to 15,000 feet.4 The longer the lateral, the more reservoir rock a single well contacts, allowing more resource to be accessed from a single well, more efficient use of surface infrastructure, and enhanced project economics. By drilling longer laterals and drilling them faster, Phoenix Energy has been able to convert capital into producing barrels at a pace that has contributed to its production growth.
Record-setting wells in the Bakken
In addition to the longer laterals, Phoenix Energy’s operational track record also includes faster-than-average drilling speed. On its three-mile wells, the company has drilled four of the fastest three-milers on record, measured by days to total depth. Days to total depth is the number of calendar days from the start of drilling to reaching the well’s planned final depth:4
- 6.46 days — Axel Ferrari 25-36-14H (June 2024)
- 6.52 days — Danielle 26-35-2 2H, Alamo (May 2025)
- 6.52 days — Jacobson 19-30-31 3H, Alamo (August 2024)
- 6.60 days — Axel Ferrari 25-36-1 5H (July 2024)
Drilling a three-mile lateral to total depth in under seven days is an operational milestone that translates directly into economics. Every day saved is capital saved, and production accelerated.
On four-mile wells — the frontier of lateral length in the basin — Phoenix Energy again sits among the fastest operators according to internal estimates, with four of the fastest four-milers by days to total depth:4
- 9.29 days — Willow Gray 2-11-14-23-4H, Alamo (September 2025)
- 9.71 days — Willow Gray 2-11-14-23-2H, Alamo (September 2025)
- 9.77 days — Willow Gray 2-11-14-23-5H, Alamo (October 2025)
- 10.38 days — Nystuen 20-17-8-5-4H, Alamo (July 2025)
The company also drilled one of the longest laterals ever completed on a single-run four-miler: 20,800 feet, on the Nystuen 20-17-8-5-1H (Alamo) well in June 2025.5 Completing a lateral of nearly four miles in a single continuous run is a technical achievement that few operators in the basin have matched, and it is consistent with the company’s “longer laterals, enhanced economics” thesis in practice.
Taken together, these results explain why Phoenix Energy can credibly describe itself as a record-setting oil and gas company. The records cluster across well types, across years, and across the company’s operating areas, pointing to systematic operational discipline rather than a lucky well or two.
Milestones in Montana
Growth also means expanding into new areas. In 2025, Phoenix Energy extended its longer-lateral development approach into Montana, expanding its Williston Basin operations beyond its North Dakota core. In the second quarter of 2025, the company placed its first two operated pads in Montana into production.6
Phoenix Energy has also expanded its use of four-mile lateral development in the state. As identified on the company’s operations website, Kimono, Origami, and Bonsai are among the company’s four-mile lateral developments in Montana.7
A Three-Pronged Approach to Growth
While the records and milestones above focus on Phoenix Energy’s operations, the company’s growth hasn’t come from drilling alone. The company operates under a three-pronged strategy that combines:8
- Direct drilling — operating its own wells, where the longer-lateral, fast-drilling advantages described above translate most directly into production and returns.
- Royalty acquisition — acquiring mineral and royalty interests that generate revenue without operating cost or capital exposure.
- Non-operated working interests — participating in wells operated by others, adding production and diversification without carrying the full operational load.
Together, these three business lines give Phoenix Energy multiple ways to grow. They allow the company to increase production through its own operations while also building additional sources of revenue through royalty interests and non-operated investments. It’s a strategy designed to support long-term growth rather than relying on any single part of the business.
Leadership perspective
Behind every drilling record and milestone is a team of engineers, geologists, drilling crews, field operators, and support staff working together to improve performance one well at a time. Production milestones may make the headlines, but they’re really the result of thousands of decisions made every day across Phoenix Energy’s operations.
“Reaching 50,000 barrels of oil per day is an important moment for Phoenix Energy, and 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 isn’t the finish line for Phoenix Energy, it’s a foundation. Our job now is to keep applying the same operational discipline that got us here, so we can continue unlocking value responsibly for the long term.”
A Growing Role in American Energy
In roughly six years since its founding in 2019, Phoenix Energy has grown from a startup into a producer of more than 50,000 barrels of oil per day, earned national recognition as one of America’s fastest-growing companies, set multiple drilling and lateral-length records in the Bakken, and expanded into Montana with a series of firsts. The combination of production growth, operational milestones, and geographic expansion reflects Phoenix Energy’s evolution from a startup into a larger independent producer in the Williston Basin.
The 50,000-barrel milestone is best understood not as the summit of Phoenix Energy’s growth, but as the clearest evidence yet of the operational engine driving it. Phoenix Energy’s rise carries weight beyond the company itself: an independent producer that is growing rapidly and expanding domestic oil production is exactly the kind of operator the sector needs
To review Phoenix Energy’s most recent production statistics, visit phoenixenergy.com/production. To learn more about the company and its royalty and non-operated working interest businesses, visit phoenixenergy.com.
Footnotes
GlobalNewswire, Phoenix Energy Surpasses 50,000 Barrels of Oil Per Day, Cementing Its Standing Among the Fastest-Growing Producers in the Williston Basin. (July 20, 2026). https://www.globenewswire.com/news-release/2026/07/20/3330059/0/en/phoenix-energy-surpasses-50-000-barrels-of-oil-per-day-cementing-its-standing-among-the-fastest-growing-producers-in-the-williston-basin.html
Financial Times, FT ranking: The Americas’ Fastest-Growing Companies 2025 (April 10, 2025) (Phoenix Energy ranked No. 33). https://www.ft.com/americas-fastest-growth-2025
Phoenix Energy One, LLC, Phoenix Operating, section titled “Longer Laterals = Enhanced Project Economics,” https://phoenixenergy.com/operating. Accessed July 23, 2026.
Phoenix Energy One, LLC, Production Status, section titled “Chasing Records in the Bakken,” https://phoenixenergy.com/production. See definitions of “Days to Total Depth” and “Lateral Length” and the accompanying drilling performance records. Accessed July 23, 2026.
GlobeNewswire, Phoenix Energy Reports Q3 2025 Financial and Operating Results. (Nov. 12, 2025). https://www.globenewswire.com/news-release/2025/11/12/3186902/0/en/phoenix-energy-reports-q3-2025-financial-and-operating-results.html
Business Wire, Phoenix Energy Reports Q2 2025 Financial and Operating Results. (Aug. 21, 2025).
https://www.businesswire.com/news/home/20250821164996/en/Phoenix-Energy-Reports-Q2-2025-Financial-and-Operating-ResultsPhoenix Energy One, LLC, Production Status, section titled “Under Development,” https://phoenixenergy.com/production. Accessed July 23, 2026.
SEC Filings, Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed March 12, 2026.
https://www.sec.gov/Archives/edgar/data/1818643/000119312526110825/ck0001818643-20251231.htm