This study assesses the technical feasibility of a forward-osmosis-based system for concentrating produced water and extracting freshwater. Forward osmosis was combined with nanofiltration, the latter system used to restore the initial osmotic pressure of the diluted draw solutions while concurrently obtaining the final freshwater product. Three draw solutions, namely, MgCl2, NaCl, and C3H5NaO2, were initially tested against a synthetic water mimicking a pretreated produced water effluent having an osmotic pressure equal to 16.3 bar. MgCl2 was thus selected for high-recovery experiments. Different combinations of draw solution osmotic pressure (30, 40, 60, 80, and 120) and draw-to-feed initial volume ratios (1, 1.6, and 2.2) were tested at the laboratory scale, achieving recovery rates between roughly 35% and 70% and water fluxes between 4 and 8 L m−2h−1. One-dimensional, system-wide simulations deploying the analytical FO water flux equation were utilized to validate the experiments, investigate co-current and counter-current configurations, and understand the system potential. The diluted draw solutions were then transferred to nanofiltration to regenerate their original osmotic pressure. There, the highest observed rejection was 96.6% with an average flux of 21 L m−2h−1, when running the system to achieve 100% relative recovery.