The company’s operational turnaround at the Capixaba field saw oil production climb from 256 barrels per day to 583 barrels per day, while gas production surged by 471 percent. By prioritizing reservoir validation over new drilling, Petro-Victory successfully identified new commercial horizons, including the Upper Urucutuca, without incurring additional capital expenditure. These efforts were bolstered by a 67 percent increase in water injection capacity and a shift toward internal technical analysis, which collectively reduced production costs from US$25.8 per barrel to US$16.3 per barrel.
Petro-Victory Reports Triple-Digit Production Growth at Capixaba
Petro-Victory Energy Corp. reported a transformative first year at its Capixaba Energia assets in Brazil, where a focus on technical optimization and workover campaigns pushed oil production up 128 percent. The Dallas-based firm managed to more than double output while simultaneously slashing operational costs by over a third.
Financial discipline defined the partnership with Blue Oak Investments, which generated R$17 million in free cash flow during the period. This capital was immediately reinvested into infrastructure and maintenance, maintaining 98.7 percent operational efficiency across the campaign. With no accidents recorded and minimal downtime, the company views this model of revitalizing mature onshore assets as a scalable blueprint for its future expansion across Latin America.
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