Victory Energy is an Austin, Texas-based, growth-oriented oil and gas company. The company is focused on growing its cash flow and energy reserve holdings through strategic acquisitions of promising energy resource properties and continuing development of existing reserve holdings. Its operations are based in the American Southwest, with onshore operations primarily based in the Permian Basin of Texas and southeast New Mexico.
Victory Energy leverages key industry relationships and internal capabilities to target low-risk to moderate-risk oil and gas prospects. Its corporate focus is on lucrative energy resource development projects contained within longer-lasting reservoirs that offer strong profit potential.
Victory Energy is moving to establish itself for the long term through mixed efforts: increased oil reserve holdings, reduced costs, greater production volumes, and efficient and responsible capital management. The company's current reserve property assets and prospects portfolio currently numbers seven sites at different stages of on-site development and production.
Incorporating Q4 estimates, in November 2013 Victory Energy announced significant company milestones in line with its growth-oriented mission. From 2012 to 2013, Victory Energy achieved the following milestones:
•100% increase in mineral and drilling investments ($1 million vs. $2 million)
•97% increase in undiscounted proved reserve value ($3.3 million vs. $6.2 million)
•106 % increase in revenue ($326,000 vs. $674,000)
•130% increase in oil as a percent of revenue (18% vs. 41%)
Victory Energy leverages the extensive experience of a savvy management team to steer its efforts toward company growth. With a management team that features over 120 years of combined relevant oil and gas experience, the company is led by a group of savvy professionals with diverse but insight-laden professional backgrounds. At the helm of the management team is Victory Energy's Chief Executive Officer, Kenneth Hill, an executive with 20 years of professional experience, of which seven consisted of experience in exploration and production efforts and operations.
Mr. Hill was one of the founding 20 members of Dell, Inc., and served in previous capacities of other companies such as Interim Chief Executive Officer, Vice President of Operations, and Vice President of Investor Relations with another publicly traded exploration and production company on the Australian Stock Exchange. He boasts of experience in management capacities in areas including manufacturing, sales, marketing, and business development. Since 2001, through his private company, Mr. Hill has raised millions of dollars in venture capital as well as invested in and consulted for multiple successful ventures across multiple sectors, including the oil and gas sector. His academic background consists of prior studies in Business Management and Business Marketing at what is now Texas State University, and during his tenure at Dell continued education at the University of Texas Graduate School of Business Executive Education program, the Aspen Institute, and the Center for Creative Leadership.
With this experienced management at the helm, Victory Energy is positioned for strong growth efforts in 2014 and beyond.
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