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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Oil and gas sales $ 57,764 $ 73,065 $ 213,744 $ 218,243
Gain on settlement and sale of oil and gas properties 0 0 0 64,824
Total revenues 57,764 73,065 213,744 283,067
Operating Expenses:        
Lease operating costs 13,145 20,585 70,885 83,712
Exploration and dry hole cost 0 0 2,218 0
Production taxes 3,322 4,097 11,813 11,152
General and administrative 510,636 190,675 1,628,124 1,258,833
Depreciation, depletion, amortization, and accretion 29,916 32,729 92,216 109,016
Total operating expenses 557,019 248,086 1,805,256 1,462,713
Loss from operations (499,255) (175,021) (1,591,512) (1,179,646)
Other Income (Expense):        
Management fee income 869 772 2,768 3,413
Interest expense (106,742) (33,300) (294,733) (99,613)
Total other income and expense (105,873) (32,528) (291,965) (96,200)
Loss before Tax Benefit (605,128) (207,549) (1,883,477) (1,275,846)
Tax benefit 0 0 0 0
Net loss (605,128) (207,549) (1,883,477) (1,275,846)
Less: Net loss attributable to non-controlling interest (5,954) (12,033) (31,752) (95,229)
Net loss attributable to Victory Energy Corporation $ (599,174) $ (195,516) $ (1,851,725) $ (1,180,617)
Weighted average shares, basic and diluted (in shares) 31,220,326 31,220,326 31,220,326 31,220,326
Net loss per share, basic and diluted (in dollars per share) $ (0.02) $ (0.01) $ (0.06) $ (0.04)