Petro-Victory Energy Doubles Oil Production at Capixaba Energia

Petro-Victory Energy Corp., an oil and gas company, has reported significant growth in production and revenue at its Capixaba Energia asset. The company increased oil production by 128%, from 256 barrels per day to 583 barrels per day, while gas production rose by 471%. These improvements were achieved through a comprehensive program focused on production optimization, reservoir development, operational efficiency, and infrastructure enhancements.

The company's results demonstrate the strength of its partnership with Blue Oak Investments, which has combined Petro-Victory's operational expertise with Blue Oak's investment capabilities. The partnership aims to acquire, optimize, and grow high-quality energy assets in Brazil's onshore oil and gas sector.

Petro-Victory CEO Richard F. Gonzalez commented that the results validate their operating model and demonstrate the company's ability to unlock value from mature onshore assets without additional capital expenditure. He highlighted the successful validation of new reservoirs, increased water injection capacity, and improved operational efficiency as key achievements in the first year.