Victory Energy Corp. (VYEY) Demonstrates Ability to Achieve Company Objectives, Grow Revenues, Narrow Losses
The Permian Basin in Southeastern New Mexico and West Texas stretches approximately 250 miles wide and 300 miles long. In the past five years alone, horizontal drilling in the Permian Basin oil field has increased fivefold, according to the U.S. Energy Information Administration (EIA). In the past three years, oil companies have drilled more than 9,300 new wells in the area, utilizing the latest oilfield technology to reach reserves once thought to be out of reach. Austin-based Victory Energy is an independent, growth-oriented oil and natural gas company with a primary focus on the Permian Basin in Texas and southeast…