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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Dec. 31, 2015
Revenues            
Oil and gas sales $ 57,764 $ 73,065 $ 213,744 $ 218,243 $ 287,179 $ 650,648
Gain on settlement and sale of oil and gas properties 0 0 0 64,824 153,624 637,248
Total revenues 57,764 73,065 213,744 283,067 440,803 1,287,896
Operating Expenses:            
Lease operating costs 13,145 20,585 70,885 83,712 105,245 159,800
Exploration and dry hole cost 0 0 2,218 0 3,000 2,513
Production taxes 3,322 4,097 11,813 11,152 14,690 32,704
General and administrative 510,636 190,675 1,628,124 1,258,833 1,961,314 4,389,788
Impairment of oil and natural gas properties 0 0 0 0 0 867,048
Depreciation, depletion, amortization, and accretion 29,916 32,729 92,216 109,016 135,009 637,121
Total operating expenses 557,019 248,086 1,805,256 1,462,713 2,219,258 6,088,974
Loss from operations (499,255) (175,021) (1,591,512) (1,179,646) (1,778,455) (4,801,078)
Other Income (Expense):            
Management fee income 869 772 2,768 3,413 5,972 8,028
Interest expense (106,742) (33,300) (294,733) (99,613) (134,116) (112,468)
Total other income and expense (105,873) (32,528) (291,965) (96,200) (128,144) (104,440)
Loss before Tax Benefit (605,128) (207,549) (1,883,477) (1,275,846) (1,906,599) (4,905,518)
Tax benefit 0 0 0 0 0 0
Net loss (605,128) (207,549) (1,883,477) (1,275,846) (1,906,599) (4,905,518)
Less: Net loss attributable to non-controlling interest (5,954) (12,033) (31,752) (95,229) (54,975) (728,218)
Net loss attributable to Victory Energy Corporation $ (599,174) $ (195,516) $ (1,851,725) $ (1,180,617) $ (1,851,624) $ (4,177,300)
Weighted average shares, basic and diluted (in shares) 31,220,326 31,220,326 31,220,326 31,220,326 31,220,326 29,803,421
Net income (loss) per share, basic and diluted (in dollars per share) $ (0.02) $ (0.01) $ (0.06) $ (0.04) $ (0.06) $ (0.14)