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Petro-Victory Energy Third Quarter 2024 Earnings: US$0.074 loss per share (vs US$0.059 loss in 3Q 2023)

Petro Victory Energy Corp. announced its financial and operational results for the third quarter ending September 30, 2023. The company reported a significant increase in production, with an average daily output of 1,300 barrels of oil equivalent per day (boepd), up from 900 boepd in the previous quarter. This growth was attributed to the successful drilling and completion of new wells in their Brazilian operations. Financially, Petro Victory saw revenues rise to $12.5 million, a 39% increase from the last quarter, driven by higher production volumes and favorable oil prices. However, operating expenses also increased due to the expanded operations. The company also highlighted ongoing efforts to optimize operations and reduce costs, alongside plans for further exploration and development activities in their key assets. Petro Victory remains focused on enhancing shareholder value through strategic growth and operational efficiency.

Read the Full YAHOO!Finance Article at [ https://finance.yahoo.com/news/petro-victory-energy-third-quarter-121457520.html ]