Victory Oilfield Tech Inc   (VYEY)
Other Ticker:  
    Sector  Energy    Industry Oil And Gas Production
   Industry Oil And Gas Production
   Sector  Energy
Price: $0.4020 $-0.10 -19.600%
Day's High: $0.402 Week Perf: -33 %
Day's Low: $ 0.40 30 Day Perf: -38.15 %
Volume (M): 1 52 Wk High: $ 1.10
Volume (M$): $ 0 52 Wk Avg: $0.57
Open: $0.40 52 Wk Low: $0.11

 Market Capitalization (Millions $) 11
 Shares Outstanding (Millions) 28
 Employees 2
 Revenues (TTM) (Millions $) 2
 Net Income (TTM) (Millions $) 0
 Cash Flow (TTM) (Millions $) 0
 Capital Exp. (TTM) (Millions $) 0

Victory Oilfield Tech Inc

We were organized under the laws of the State of Nevada on January 7, 1982. We are authorized to issue 47,500,000 shares of common stock par value $0.001 per share. On January 12, 2012 we implemented a 50:1 reverse stock split of our common stock.

Prior to May 3, 2006 we operated under the name Victory Capital Holdings Corporation among other corporate names.

Our common stock is quoted under the ticker symbol VYEY on the OTCQB, operated by OTC Markets Group.

We are the managing partner of Aurora Energy Partners, a Texas general partnership that we refer to as Aurora, and we hold a 50% partnership interest in Aurora. Aurora is our consolidated subsidiary for financial statement purposes. The Second Amended Partnership Agreement of Aurora, which we refer to as the Aurora Partnership Agreement, gives us control over Aurora. Article XI of the Aurora Partnership Agreement cannot be modified without the approval of all (100%) of the partners of Aurora; therefore, we cannot be removed as a managing member of Aurora regardless of the percentage partnership interest held by the other partners of Aurora. Accordingly, consolidation is appropriate for all reporting periods. We currently conduct all of our oil and natural gas operations through, and hold all of our oil and natural gas assets through, Aurora. Aurora is the record title holder to substantially all of the oil and natural gas properties, wells and reserves referred to in this annual report. Through our partnership interest in Aurora, we are the beneficial owner of 50% of the oil and gas properties, wells and reserves held of record by Aurora.
Victory is one of two partners in Aurora, which was established in January 2008. The second partner in Aurora is the Navitus Energy Group, which we refer to as Navitus. Navitus is also a Texas general partnership. We work together with Nativus to increase proved reserves and the valuation of Aurora. We plan to eventually consolidate 100% of the ownership of Aurora under Victory and thereafter move to a national securities exchange such as the NYSE or NASDAQ.

Navitus Partners, LLC, a partner in the Navitus general partnership, continues to raise capital for contribution through Navitus to the Aurora partnership, the net proceeds of which will generally be used to fund Auroras operations, as well as for the potential acquisition and development of targeted oil and gas opportunities. The investors in this offering will receive a 10% preferred return through their indirect interest in the Navitus partnership for five years and one warrant to purchase one share of Victory common stock for every dollar invested and additional benefits. Under the terms of the offering, Navitus has the right to contribute up to $15 million into Aurora and Victory is obligated to match the capital contribution amount of Navitus resulting from the offering. Victory is also required to match previous contributions made by Navitus. Under the agreement, Victory may also raise funds from other sources. Substantially all producing oil and natural gas assets are held in the Aurora partnership during the five year term of the Aurora Partnership Agreement which ends in October 2017. As of December 31, 2016, Navitus has contributed an aggregate of $9.4 million into Aurora.

We are independent growth-oriented oil and gas exploration and production company based in Austin, Texas. We have historically been focused on the acquisition and development of unconventional resource play opportunities in the Permian Basin, the Eagle Ford shale of South Texas and other strategically important areas that offer predictable economic outcomes and long-lived reserve characteristics; however we will also pursue opportunistic acquisition in other areas of the country. Our current asset portfolio includes both vertical and horizontal wells in prominent formations such as Eagle Ford, Austin Chalk, Woodbine, Spraberry, Wolfcamp, Wolfberry, Mississippian, Cline, Fusselman and Ellenberger. We are focused on creating stockholder value by rapidly growing conventional oil and liquids-rich natural gas reserves and cash-flow via continued low-risk vertical well development on existing properties, as well as through the acquisition of new economically strong producing properties. This focus on returns is achieved by targeting predictable conventional and resources plays that provide favorable operating environments and lifting costs.

We have carefully assembled a management team with direct and relevant oil and gas experience, who also hold extensive industry relationships to help grow the Company. Management is supported by a team of third-party professionals on an interim and as-needed basis. This team includes geologists for prospect evaluation and assessment, reservoir engineering resources for the analysis of current and new properties, and a finance executive for accounting, financial reporting and other back-office support. Reserve reporting is performed by a third-party engineer located in Midland, Texas. Each independent operator utilized by the Company also has their own array of experts tailored for the specific formations and well completion techniques of each property in which the Company holds an interest. We strategically utilize both internal capabilities and strategic industry relationships to acquire non-operated, high-grade working interest positions in predictable, low-to-moderate risk oil and gas prospects. To help grow the Company and lower field level operating expenses, we also plan to build-out an internal operating team in the near-future.

As of December 31, 2016, we had 30 gross wells on production. Our portfolio of producing assets now includes the following properties: the Eagle Ford Property, the Fairway property, the Bootleg Canyon Ellenberger Field, the Adams-Baggett Gas Field, the Morgan property, the Uno-Mas property and the Clear Water Wolfberry resource property. Proved commercial accumulations of hydrocarbons now occur in multiple horizons, at depths ranging from 4,700 to 13,100 feet, with the majority of proved reserves being located on properties in the Permian Basin of Texas and New Mexico.

   Company Address: 3355 Bee Caves Road Austin 78746 TX
   Company Phone Number: -347-7300   Stock Exchange / Ticker: VYEY

Customers Net Income fell by VYEY's Customers Net Profit Margin fell to

-42.1 %

11.92 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


Stock Performances by Major Competitors

5 Days Decrease / Increase
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EOG   -3.62%    
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PXD   -2.93%    
SWN   -3.32%    
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Victory Oilfield Tech Inc

Victory Oilfield Tech Inc Makes Strides with 7.399% Revenue Growth in Q1 2023

Investors in Victory Oilfield Tech Inc are eagerly awaiting the release of the company's fiscal first quarter financial results for 2023. The company reported that it reached 0 of $0.00 per share, which was the same as the preceding financial reporting period, but an improvement from the same period a year before.
Revenue for the quarter advanced by 7.399% to $0.36 million from the same period a year earlier, but the company saw a sequential decline of -11.913% from the preceding quarter's revenue of $0.41 million.


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