Opinions expressed by Digital Journal contributors are their own.
Who owns Phoenix Energy?
Phoenix Energy is a US-based, family-owned oil and gas company headquartered in Irvine, California. The company recently changed its name to reflect its evolution from a startup focused on mineral rights acquisition to a fully integrated oil and gas production company with 125 U.S.-based employees in states like Colorado, Wyoming, Florida, and Texas.
Over the past several years, Phoenix Energy has emerged as a leading operator in the Williston Basin of North Dakota and Montana — one of the most prolific oil-producing regions in the country. The company’s growth has been fueled by a commitment to technological innovation, responsible resource development, and a strong foundation rooted in the strong values of the Ferrari family.
Origins: A business built on American family values
The Ferrari family story has deep roots in America’s energy industry. Daniel and Charlene Ferrari, originally from New Lenox, Illinois, both built careers in energy-related fields. Daniel worked as a pipefitter for ExxonMobil, while Charlene contributed her skills to the drafting department at Exelon (formerly ComEd). Their strong work ethic and dedication inspired their son, Phoenix Energy CEO Adam Ferrari, to also pursue a career in the energy sector which eventually led to Phoenix Energy.
Adam earned a degree in Chemical Engineering from the University of Illinois at Urbana-Champaign, a top engineering school in the U.S. After graduating magna cum laude, he gained hands-on experience working with companies like BP, where he developed expertise in both technical operations and business strategies of the domestic oil and gas industry.
In 2019, leveraging Adam’s growing industry knowledge, the family officially launched Phoenix Energy, which at the time was called Phoenix Capital Group, in Denver, Colorado. The early mission was focused on delivering a technology-first approach to mineral rights acquisitions but with a strategic vision for growth into other areas of the oil and gas industry.
To fund the company’s early stages, the Ferraris made a bold move: they invested the majority of their personal savings and retirement funds through their family investment entity, Lion of Judah Capital, LLC, into the growth of the company. This capital helped develop a proprietary technology platform that allowed Phoenix Energy to identify and evaluate acquisition opportunities more efficiently than competitors — a key factor in the company’s early success.
The company projects more than $280 million in revenue for 2024, a testament to the Ferraris’ vision, dedication, and commitment to building a privately held growth company dedicated to American energy independence.
Growth and expansion: A leading operator in the Williston Basin
Since 2023, Phoenix Energy has accelerated its growth into active oil and gas production, becoming a key operator in the Williston Basin, home to the Bakken Formation — one of the richest oil reserves in North America. This milestone is significant considering the high costs associated with drilling new wells.
By vertically integrating its operations, Phoenix Energy now manages the entire energy value chain, including:
- Acquiring mineral rights
- Drilling and completing wells
- Producing and marketing oil and gas
This integrated approach enables the company to optimize operational efficiency, reduce costs, and maximize the value of its assets in a way not possible when the company was focused exclusively on mineral rights acquisition and non-operating working interest opportunities. The integration brings independence to Phoenix Energy, allowing the company to focus on long-term sustainability rather than short-term financial pressures.
What’s next for this privately held, family-guided company?
As Phoenix Energy continues to grow, its ownership structure remains firmly rooted in the Ferrari family. The company has largely scaled without the backing of institutional investors such as private equity firms, which has allowed the Ferrari family to maintain control over its strategic direction.
While ownership structures can evolve in any private business, Phoenix Energy’s mission remains clear:
- Develop America’s energy resources
- Uphold the highest standards of integrity and transparency
- Deliver long-term value to stakeholders, landowners, and the communities it serves
The Ferraris are committed to running Phoenix Energy with an emphasis on sustainable growth and responsible operations over short-term profits. As the company expands, it carries forward the same entrepreneurial spirit, family values, and dedication to American energy independence that inspired its founding in 2019.
Summary & key facts about Phoenix Energy
Phoenix Energy is American-owned and proudly operated by the Ferrari family. The company’s growth reflects the entrepreneurial spirit, hard work, and integrity that define American family-owned enterprises. Here are a few key facts:
- Headquarters: Irvine, California
- Founded: 2019
- 2024 projected revenue: Over $280 million
- Primary operations: Williston Basin (North Dakota & Montana)
- Focus areas: Mineral rights acquisition, oil & gas production, non-operating working interests
- Final thought: Phoenix Energy Is 100% American-owned
