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Phoenix Energy One

Denver, Colorado, United States · Energy, Oil And Gas, oil & energy

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 in North Dakota and Montana. Phoenix Energy operates under a three-pronged strategy of direct drilling, royalty acquisition, and non-operated working interests.

Key facts

Headquarters
Denver, Colorado, United States
Employees
120
Industries
Energy, Oil And Gas, oil & energy
Status
Public (PHXE-P)
Website
phoenixenergy.com
LinkedIn
Company page

Recent activity at Phoenix Energy One

  • : SEC 8-K (5.02): On October 21, 2026, Phoenix Energy One, LLC introduced the Wellbore Participation and Assignment Plan, allowing certain employees, including executive officers, the opportunity to acquire non-operating working interests in 38 company-operated wells in North Dakota and Montana. Participants commit to paying a percentage of the estimated Development Costs and will receive 80% of their Elected Working Interest as net revenue interest. This incentive aligns the interests of participants with those of the Company and its equity holders, as they share in the associated risks. The Plan intends to commence distributions to participants only after all Development Costs are incurred, emphasizing the long-term nature of their commitment.
  • : SEC 8-K (1.01):
  • : SEC 8-K (1.01): On July 7, 2026, Phoenix Energy One, LLC entered into a material definitive agreement called an Indenture with Odyssey Transfer and Trust Company. This agreement enables the issuance of up to $100,000,000 in aggregate principal amount of Senior Subordinated Junior Lien Notes. The Notes will mature in 10 years and bear interest rates between 6.00% to 7.00%, depending on the chosen redemption interval. These Notes will be secured by certain properties of the Company and will be contractually subordinated to any senior debt under the Fortress Credit Agreement. Importantly, this issuance is part of a strategy to enhance the Company's capital structure and financial flexibility.
  • : SEC 8-K (1.01): On June 1, 2026, Phoenix Energy One, LLC entered into a Limited Waiver and Amendment No. 9 to its Amended and Restated Senior Secured Credit Agreement with Phoenix Operating LLC and Fortress Credit Corp., among other parties. This amendment allows the Company to issue certain junior lien notes, contingent upon conditions outlined in the original Credit Agreement. The amendment is part of ongoing financing arrangements aimed at enhancing the Company's capital structure. The original credit facility was entered into on August 12, 2024, and this amendment reflects the Company's strategy to adjust its financing to meet operational needs.
  • : Phoenix Capital Group Holdings
  • : SEC 8-K (1.01): On February 12, 2026, Phoenix Energy One, LLC entered into Amendment No. 8 to its Amended and Restated Senior Secured Credit Agreement with Phoenix Operating LLC and Fortress Credit Corp., among other lenders. This amendment established $75 million in discretionary delayed draw term loan commitments, decreasing the total available principal from $300 million to $225 million. It also included waivers of certain covenants related to the company's leverage and coverage ratios. The funds from this amendment will be used to finance the development of their oil and gas properties, significant for strategic growth in the sector.
  • : SEC 8-K (5.02): On January 21, 2026, Phoenix Energy One, LLC entered into new employment agreements with Adam Ferrari (CEO), Curtis Allen (CFO), and Lindsey Wilson (CBO), effective January 1, 2026. These agreements supersede their prior agreements from May 8, 2025. Ferrari and Allen will receive reduced variable revenue-based compensation of 0.9% and 0.45% of assumed gross revenues, with payments occurring twice monthly during fiscal year 2026, ending with a true-up in December 2026. Wilson's compensation structure changed to a base salary of $575,000 for fiscal year 2026, no longer including revenue-based incentives. The agreements were approved by the board of directors.
  • : SEC 8-K (5.02):
  • : SEC 8-K (5.02): On November 3, 2025, Brandon Allen, the Chief Operating Officer of Phoenix Energy One, LLC, resigned immediately without any disagreement with the Company. Concurrently, David Scadden was appointed as the new Chief Operating Officer of the Company, effective immediately. Scadden, who previously served as the Chief Execution Officer since September 2024, brings significant operational oil and gas experience from various roles, including his time at Chord Energy. Notably, there were no changes to compensatory arrangements or material benefits for Mr. Scadden in connection with his new role. This management change is strategic as it aims to leverage Mr. Scadden's extensive expertise in drilling projects across multiple basins to enhance the Company’s operational efficiency.
  • : SEC 8-K (1.01): On October 27, 2025, Phoenix Energy One, LLC entered into Amendment No. 7 to its Amended and Restated Senior Secured Credit Agreement, originally dated August 12, 2024. This amendment involves Phoenix Operating LLC and its lenders, facilitated by Fortress Credit Corp. The specifics of the amendment are not detailed in this filing, but it represents a significant modification to the existing credit agreement, likely affecting the terms or conditions of financing provided to Phoenix Operating. This amendment could have strategic implications for the company’s liquidity and operational capabilities.

Leadership

  • Adam Ferrari, Executive Officer
  • Justin Arn, Executive Officer
  • Sean Goodnight, Executive Officer
  • Curtis Allen, Executive Officer
  • Lindsey Wilson, Executive Officer

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About Phoenix Energy One: questions and answers

What does Phoenix Energy One do?

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 in North Dakota and Montana. Phoenix Energy operates under a three-pronged strategy of direct drilling, royalty acquisition, and non-operated working interests.

Where is Phoenix Energy One headquartered?

Phoenix Energy One is headquartered in Denver, Colorado, United States.

How many employees does Phoenix Energy One have?

Phoenix Energy One has about 120 employees.

What is the latest news on Phoenix Energy One?

On Oct 22, 2026, SEC 8-K (5.02): On October 21, 2026, Phoenix Energy One, LLC introduced the Wellbore Participation and Assignment Plan, allowing certain employees, including executive officers, the opportunity to acquire non-operating working interests in 38 company-operated wells in North Dakota and Montana. Parti

Is Phoenix Energy One a public company?

Yes. Phoenix Energy One is publicly traded under the ticker PHXE-P.

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