Abstract: The long-term imbalance in resource allocation caused by the separate allocation of production and costs by upstream oil and gas field enterprises has resulted in the traditional allocation of production based on the capacity of oil wells being unable to meet the needs of high-quality and sustainable development of oilfield. How to rationally allocate resources such as investment, cost, and production is a difficult problem that needs to be solved in the production and operation of the oilfield. To this end, a “three types and six areas” benefit evaluation method is established based on oil wells, and the lowest variable cost is introduced to identify ineffective production. On this basis, through the unified optimization ranking of the lowest variable cost and the benefit contribution value of a single well, the economic production scale is calculated using the three models of breakeven, lowest cost, and maximum profit, to guide the benefit optimization of high cost and ineffective production, and classified governance measures are proposed. This study is applied to the formulation of the benefit production allocation plan for XJ Oilfield. Based on the oilfield capacity production allocation plan and cost budget plan, with the oilfield’s breakeven production, lowest cost production, and maximum profit production as a reference, adjust the production scale, optimize the allocation cost, and obtain a yield plan that takes into account both quantity and efficiency, providing a basis for oilfield production and operation decisions.