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Petro-Victory Energy ( (TSE:VRY) ) has shared an update.
Petro-Victory Energy announced the acquisition of 13 oil fields in the Potiguar Basin, Brazil, in partnership with Azevedo & Travassos Petroleo. This acquisition for $15 million enhances Petro-Victory’s production capacity and reserves, aligning with its strategy to increase shareholder value through disciplined investments. The fields, originally purchased by Brava Energia from Petrobras, add 125 barrels of oil per day to Petro-Victory’s production, with plans for significant further production increases. The acquisition also brings operational synergies due to its proximity to existing assets, reducing costs and increasing efficiency.
More about Petro-Victory Energy
Petro-Victory Energy Corp. is a company operating in the energy sector, specifically focusing on oil exploration and production. It is known for its strategic investments in high-impact, low-risk oil assets in Latin America, particularly in the Potiguar Basin, Brazil, where it has established a strong presence with several producing fields and exploration blocks.
Average Trading Volume: 5,712
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$17.69M
For detailed information about VRY stock, go to TipRanks’ Stock Analysis page.
