-- Phoenix Energy has expanded its acreage position in the Williston Basin after securing 12 parcels in a federal oil and gas lease auction covering public lands in Montana and North Dakota.
The lease sale included more than 7,600 acres and generated over $38 million in total bids. Phoenix Energy emerged as the top bidder by dollars at the auction, adding acreage the company had identified as consistent with its long-term development strategy.
The latest acquisitions follow Phoenix Energy’s earlier purchase of more than $10 million in federal oil and gas leases in North Dakota during 2025. Together, the acquisitions strengthen the company’s position in one of the United States’ established oil-producing regions and provide additional opportunities for future development.
Building on a Long-Term Williston Basin Strategy
Phoenix Energy’s approach to federal lease auctions centers on identifying acreage that complements its existing operations, geological knowledge, and infrastructure planning.
Rather than evaluating individual parcels in isolation, the company considers geological data, well spacing, surrounding development, infrastructure proximity, and potential integration with its broader asset base.
“In this industry, quality acreage doesn’t become available every day,” said Adam Ferrari, CEO of Phoenix Energy. “When opportunities align with years of geological work and infrastructure planning, operators have to think long-term and act decisively.”
The newly acquired leases build on acreage Phoenix Energy has already studied, allowing preliminary development considerations to draw on existing geological and engineering work.
Technology Continues to Reshape Williston Basin Development
The Williston Basin spans portions of North Dakota and Montana and contains the Bakken and Three Forks formations, two significant targets for oil development in the region.
Advances in horizontal drilling, longer lateral wells, completion techniques, reservoir analysis, and targeting technology have changed how operators assess acreage throughout the basin.
“A decade ago, some of this acreage may not have supported the same level of development interest,” Ferrari said. “Today, longer laterals, improved completions, and better reservoir targeting have fundamentally changed how operators evaluate these assets.”
These technological developments can make acreage that previously received limited attention more relevant to modern development programs. Longer horizontal wells and improved reservoir targeting can also allow operators to access resources efficiently while reducing the number of surface locations required for development.
From Lease Acquisition to Development Planning
Securing acreage through an auction represents an early stage of the development process.
Before drilling can begin on federal leases, operators must complete applicable planning and permitting requirements. Depending on the project, this can include site-specific development plans, environmental reviews, wildlife considerations, infrastructure planning, and other federal and state requirements.
As a result, Phoenix Energy views its lease acquisitions as long-term additions to its development portfolio rather than immediately producing assets.
The company’s existing knowledge of the region can play an important role during this process. Geological analysis and engineering work conducted before an auction help determine which parcels fit the company’s development criteria and where additional investment may be justified.
Expanding Access to Quality Acreage
Competition for desirable acreage remains an important consideration for oil and gas operators, particularly in established producing regions where attractive lease opportunities may become available only periodically.
Phoenix Energy’s 2025 acquisitions demonstrate the company’s strategy of acting when available acreage aligns with its geological and operational criteria.
The September auction alone generated more than $38 million from over 7,600 acres offered across Montana and North Dakota, with certain parcels attracting bids exceeding $10,000 per acre. Phoenix Energy secured 12 parcels and was the auction’s largest bidder by total dollars.
Combined with its earlier acquisition of more than $10 million in North Dakota federal leases, the transactions provide Phoenix Energy with additional acreage for potential future development.
Positioning for Long-Term Development
As drilling and completion technology continues to advance, established producing regions such as the Williston Basin remain an important focus for operators seeking technically attractive development opportunities.
Phoenix Energy plans to continue evaluating its newly acquired acreage alongside its existing asset base, using geological, engineering, infrastructure, and economic considerations to guide future development decisions.
The company’s recent federal lease acquisitions reinforce a strategy centered on securing acreage that fits its existing expertise and can contribute to a long-term development portfolio.
For more information about Phoenix Energy and its operations, visit Phoenix Energy.
About Phoenix Energy
Phoenix Energy is an oil and gas company with operations focused on the Williston Basin. The company evaluates and develops energy assets using geological analysis, engineering expertise, and modern drilling and completion technologies, with a focus on identifying long-term opportunities across its operating areas.
Contact Info:
Name: Phoenix Energy
Email: Send Email
Organization: Phoenix Energy
Website: https://phoenixenergy.com/
Release ID: 89201401
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