Independent, growth-oriented oil and gas company Victory Energy is committed to creating long-term shareholder value through increasing oil reserves, lowering costs, boosting production volumes, and shrewdly managing the capital on its balance sheet.
Victory Energy has its geographic focus onshore and its chief emphasis on the Permian Basin of Texas and southeast New Mexico. The company is engaged in growing proved reserves and cash flow through continued development of its existing properties, as well as through the acquisition of new resource properties.
Part of Victory Energy’s business plan is to source new capital to facilitate its continued growth, through ongoing utilization of an established investor pipeline that is available through Aurora Energy Partners and other third-party resources.
Strategically leveraging both its internal capabilities and its strategic industry relationships, Victory Energy pursues the acquisition of non-operated working interest positions in low- to moderate-risk oil and gas prospects. The company’s focus is on oil or liquid-rich gas projects within longer-life reservoirs that provide competitive finding and development (F&D) costs per barrel of oil equivalent (BOE).
In recent company news, Victory Energy announced on Nov. 12, 2013, that it is on pace to double in size for the 2013 fiscal year and to do so again very quickly with its currently held properties in the Permian Basin. Undiscounted proved reserves are expected to surpass $6.6 million for the 2013 reporting period, delivering a substantial impact to the company’s current and future revenue.
For more information, visit www.vyey.com
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