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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
Oil and Gas Revenues $ 152,448 $ 173,527 $ 550,647 $ 606,487
Operating Expenses:        
Lease operating expenses 37,279 42,154 114,296 157,786
Production taxes 7,178 9,547 26,719 34,809
Dry hole costs 0 576 0 576
Exploration and abandonment costs (5,611) 27,641 (2,120) 51,813
General and administrative expense 941,822 656,586 3,657,016 2,120,214
Impairment of oil and natural gas properties 3,152 0 309,539 0
Depletion, depreciation, and amortization 84,423 81,952 335,437 252,024
Total operating expenses 1,068,243 818,456 4,440,887 2,617,222
Loss from Operations (915,795) (644,929) (3,890,240) (2,010,735)
Other Income (Expense):        
Gain on sale of oil and gas properties 0 507 0 2,160,099
Management fee income 3,053 3,470 5,728 92,362
Interest expense (32,220) (18,631) (79,406) (49,639)
Total net other income and (expense) (29,167) (14,654) (73,678) 2,202,822
Income (Loss) before Tax Benefit (944,962) (659,583) (3,963,918) 192,087
Tax benefit 0 0 0 0
Net income (loss) (944,962) (659,583) (3,963,918) 192,087
Less: Net income (loss) attributable to non-controlling interest (62,353) (36,788) (287,278) 977,997
Net income (loss) attributable to Victory Energy Corporation $ (882,609) $ (622,795) $ (3,676,640) $ (785,910)
Weighted average shares, basic and diluted        
Basic (in shares) 29,776,068 28,788,533 29,428,000 28,154,497
Diluted (in shares) 29,776,068 28,788,533 29,428,800 28,154,497
Net income (loss) per share, basic and diluted        
Basic (in dollars per share) $ (0.03) $ (0.02) $ (0.12) $ (0.03)
Diluted (in dollars per share) $ (0.03) $ (0.02) $ (0.12) $ (0.03)