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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Oil and Gas Revenues $ 269,631 $ 237,977 $ 398,199 $ 432,960
Operating Expenses:        
Lease operating expenses 42,504 53,963 77,017 115,632
Production taxes 12,842 15,127 19,541 25,262
Exploration 0 19,677 3,491 24,172
General and administrative expense 1,070,830 981,713 2,715,194 1,463,628
Impairment of oil and natural gas properties 300,891 0 306,387 0
Depletion, depreciation, and amortization 175,815 92,040 251,014 170,071
Total operating expenses 1,602,882 1,162,520 3,372,644 1,798,765
Loss from Operations (1,333,251) (924,543) (2,974,445) (1,365,805)
Other Income (Expense):        
Gain on sale of oil and gas properties 0 2,159,592 0 2,159,592
Management fee income 1,176 84,993 2,675 88,892
Interest expense (28,480) (22,223) (47,186) (31,008)
Total net other income and (expense) (27,304) 2,222,362 (44,511) 2,217,476
Income (Loss) before Tax Benefit (1,360,555) 1,297,819 (3,018,956) 851,671
Tax benefit 0 0 0 0
Net income (loss) (1,360,555) 1,297,819 (3,018,956) 851,671
Less: Net income (loss) attributable to non-controlling interest (113,097) 1,025,630 (224,925) 1,014,785
Net income (loss) attributable to Victory Energy Corporation $ (1,247,458) $ 272,189 $ (2,794,031) $ (163,114)
Weighted average shares, basic and diluted        
Basic (in shares) 29,302,826 28,230,612 29,253,937 27,898,958
Diluted (in shares) 29,302,826 28,835,476 29,253,937 27,898,958
Net income (loss) per share, basic and diluted        
Basic (in dollars per share) $ (0.04) $ 0.01 $ (0.10) $ (0.01)
Diluted (in dollars per share) $ (0.04) $ 0.01 $ (0.10) $ (0.01)