Victory Energy, an independent oil and gas company with geographic focus onshore and major assets in the Permian Basin of Texas and southeast New Mexico, has its sights set on continuous growth in the future.
Victory is already involved in many facets of the oil and gas industry, including the acquisition, exploration, development, and production of an assortment of oil and gas properties. By mid-2013, it had over 20 producing wells and two drilled wells in various stages of completion and was on pace to double in size by the year-end, thanks in large part to its Permian Basin properties. Victory’s undiscounted proved reserves were also expected to surpass $6 million in 2013 and to deliver a powerful addition to the company’s current and future revenue.
Victory supports its growth-oriented strategy by focusing on developing its proved reserves and cash flow through the continued development of existing properties and the acquisition of new resource properties. The company intends to acquire new capital to fund this growth by leveraging the relationships it has formed with established investors through its partnership with Aurora Energy Partners and other intermediaries.
The company is fully devoted to creating long-term shareholder value by growing reserves, reducing costs, raising production volumes, and sensibly managing assets. As it executes its strategy, Victory intends to increase its economic interest in operated and non-operated oil and gas prospects in order to realize economies of scale, cost efficiencies and, thus, improve returns.
Victory intends to intentionally employ both in-house resources and strategic outside relationships with established exploration and production operators, geologists, and engineers to target investment in non-operated oil and gas prospects with low-to-moderate risk. Its current focus is on oil or liquid-rich natural gas projects within longer-life reservoirs that offer reasonable finding and development costs for each corresponding barrel of oil. In the near future, Victory anticipates adding projects that it can operate to its list of acquisitions.
The company’s longer term strategy is to continue to diversify its operated and non-operated interests by seeking out supplementary prospects with land positions large enough for multiple well drilling projects and considerable proved but undeveloped reserve opportunities.
For more information, visit www.vyey.com
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