Victory Energy Wants More Texas Acreage

Victory Energy said that it is actively looking to acquire major oil and gas lease properties in the 20,000 to 80,000-acre range. The company will initially focus on land lease opportunities in Texas.

"Texas leads many of the production categories for oil and gas and has the largest amount of untapped raw acreage available for development," said Jon Fullenkamp, Victory's CEO. "Victory Energy is now well-poised to take advantage of these larger land lease opportunities. We are confident that our risk can be well-managed both by studying the significant amount of research that is available on neighboring producing fields, and as a result of our own drilling team's experience in identifying fields with high-development potential."

Texas is the largest petroleum refiner in the U.S. and produces more than three times the natural gas of any other state. It is also the largest producer of crude oil in the U.S., according to the U.S. Department of Energy.

Victory Energy Corp. is a publicly traded, developmental stage petroleum company primarily dedicated to energy-related opportunities. The company's goal is to evaluate profitable options, develop a solid foundation through leadership and sound business acumen, and acquire producing wells as well as other potentially profitable prospects within the oil and gas industry.