Content oversight and quality assurance provided by Studio 1847
The expansive prairies south of Chicago aren’t where most would expect a modern oil and gas story to begin. Yet, it’s in Will County, Illinois, that the Ferrari family turned their life savings into a robust oil and gas company called Phoenix Capital Group. Although the region has a history of oil refineries — like the Joliet Refinery, owned by ExxonMobil, and natural gas pipelines, such as the ANR Pipeline that delivers gas to the Midwest — Will County is not typically seen as the birthplace of a high-growth oil company. Over the past five years, Phoenix has become exactly that.
Phoenix Capital Group, led by CEO Adam Ferrari, a chemical engineer from the University of Illinois, operates out of offices in Denver, Dallas, Casper and Irvine. Adam’s parents, Daniel and Charlene Ferrari, who still live in New Lenox, have been foundational to the company’s success. It’s a family business to the core, rooted in values of resilience, reinvention, and dedication instilled from their lives just south of Chicago, off Interstate 55.
The story of Phoenix Capital Group’s rise in the oil and gas industry, however, begins with hardship. In 2017, Daniel Ferrari was left paralyzed from the chest down following a routine flu shot. Daniel had spent his career as a Will County Sheriff’s Officer, then shifted his career choices and became a pipefitter at the ExxonMobil refinery. After his injury, Daniel’s physical limitations challenged his family, but his resolve to overcome adversity remained unshaken. Partnering with his wife and son, Daniel helped build Phoenix Capital Group, a name that draws on the mythical phoenix symbolizing resilience and rebirth. In the wake of his injury, developing a family business gave Daniel renewed purpose and a meaningful second chapter.
Adam Ferrari, having worked in the oil and gas industry as both an engineer and investment banker since 2005, brought critical experience to the family venture. He started out on an offshore rig with British Petroleum, gaining foundational knowledge of production processes and the financial side of oil projects. With Adam’s industry acumen and the family’s cumulative savings, they began acquiring mineral rights and investing in non-operated working interests alongside other operators. These early projects were not without hurdles, including a “dry hole” in eastern Colorado — a reminder that resilience is key in both business and life.
“Not everything you do works in business,” Adam reflects. “Every entrepreneur has a few misses before succeeding. My family, especially my father, has taught me to persevere. Watching him work daily with health professionals to stay strong and help grow the business is what keeps me going.”
In 2019, the family formally launched Phoenix Capital Group, focusing initially on mineral rights acquisition and later on well drilling and production — a significant undertaking for a private firm in an industry often dominated by larger players. The first step was for the family to invest their own savings and retirement funds through an investment entity called Lion of Judah Capital, LLC, in developing a proprietary technology platform that allowed them to identify and assess acquisition targets quickly. Once they had a solid foundation and working technology, the Ferraris realized they needed additional financing to scale.
Rather than turn to traditional oil and gas financiers, the Ferraris looked to everyday Americans for support. Part of being from Will County meant the family did not have connections with institutional financiers who dominate the space. Drawing on the JOBS Act, which allows smaller companies to raise capital directly from non-institutional investors, Phoenix Capital Group started offering bonds that pay 9–13% annual interest, designed to provide either monthly payments or compounding interest options. This approach has allowed Phoenix to raise over $700 million from a diverse group of over 4,500 investors.
“We wanted to give families access to investments that could help them grow their wealth,” Daniel explained. “Not everyone has a son with Adam’s expertise, so we’re excited to share our success with the kinds of people we’ve been lucky enough to call neighbors, friends, and family members over the years.”
Phoenix’s unique fundraising model has paved the way for its current structure, which includes three core divisions: Mineral Rights, Operating and Capital Markets. This diversification distinguishes Phoenix from many of its peers, which typically focus on a single area of oil and gas. “We’re not a Wall Street company,” Adam noted. “Phoenix isn’t backed by private equity; it’s supported by my family and thousands of hardworking American families across the country. Everything we do is about supporting the growing Phoenix family.”
Since 2019, Phoenix has grown from its initial foundation to a company with over 150 employees in five U.S. offices, reaching significant milestones along the way. By December 2020, the company surpassed $8.5 million in revenue — a figure projected to reach between $280 and $290 million by the close of 2024. This remarkable growth of approximately 4,000% has made Daniel’s second act both exciting and meaningful.
“I had a lot taken from me physically with the flu-shot injury,” remarked Daniel. “Phoenix has been a rebirth for me, though, sort of a second life that I get to enjoy with my wife and son.”
In 2023, Phoenix Capital Group launched Phoenix Operating, a wholly-owned subsidiary dedicated to oil and gas production, with operations centered in the Williston Basin in North Dakota. Managing operations allows Phoenix more control over production timelines and revenue potential. The company is expected to have 34 wells online by the end of 2024, ranking it the 17th most prolific producer in the Williston Basin, alongside established names like Continental Resources and Marathon Oil.
Phoenix Capital Group continues to expand, with plans to increase drilling, secure further financing, and improve operational efficiencies. Above all, the Ferraris aim to honor the values of resilience and hope in their daily operations. For those interested in learning more about Phoenix Capital Group, daily webinars are available that offer insight into the company and its investment opportunities.
As with any investment, there are risks. That’s why it’s best to educate yourself and consult with a professional financial advisor about what investments are right for you.
The news and editorial staffs of the Chicago Tribune had no role in this post’s preparation.