Victory Energy is an independent, growth-oriented oil and gas company
based in Austin, Texas. The company is focused on proven reserves and cash-flow
via continuing development of existing properties and strategic acquisitions of
new, promising resource properties.
For facilitation of this growth, Victory Energy will source new capital
by drawing upon its established pipeline of investors available in Aurora
Energy Partners and turning to available capital growth opportunities from
additional third party sources. For long-term profitability, the company looks
to increase its number of oil reserves, cut down on costs, boost its production
volumes, and prudently manage the capital on its balance sheet.
With a geographic focus of onshore regions, Victory Energy is currently
targeting the widespread Permian Basin of Texas and southeast New Mexico. This
area covers around 75,000 square miles, stretching around 250 miles
east-to-west and 300 miles north-to-south.
According to Baker Hughes, the Permian Basin is the most active play in
the United States, in terms of rig count and recoverable resources. In 2013,
this area had over 2,200 oil wells, over 460 rigs, and around 4.9 wells per
rig. At the time of Baker Hughes’ assessment in 2013, that was out of a total
of 8,800 oil wells, a little over 1,700 rigs, and around 5.2 rigs per well for
all U.S. land plays. Utilization of enhanced recovery practices in the Permian
Basin has led this area to a large role in American energy source production.
In 2013, the Permian Basin accounted for 71% of all oil production in Texas and
17% of all oil production for the United States.
The EIA also recognizes the basin as a primary contributor, projecting
that production in this area will grow more than in any region in the United
States in 2014. In 2013, it was found that production had averaged 1.32 million
barrels per day. For a future projection, the Permian Basin’s oil production is
expected to grow 60% between 2013 and 2016. Putting that into day-by-day figures,
the region is slated to be producing up to 1.8 million barrels daily in 2016.
For putting its sustainable growth business plan into action, Victory
Energy is headed by a management team with a combined 120 years of professional
experience. These savvy professionals boast of experience in c-level
management, operational finessing, investor relations and communications, oil
and gas industry-related law, oil and gas financial management, resource
prospect evaluation and acquisitions, exploration and production, and other
fields. The company also relies upon trusted third party experts for property
evaluation and assessment as well as reservoir engineering resource allocation
for new and existing properties.
For more information, visit: http://www.vyey.com
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