$VYEY
Victory Clean Energy Inc

2017 Q1 Form 10-K Financial Statement

#000162828017003237 Filed on March 31, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 2015 Q4
Revenue $85.30K $440.8K $100.0K
YoY Change 29.26% -65.77% 11.11%
Cost Of Revenue $50.00K
YoY Change 66.67%
Gross Profit $50.00K
YoY Change -16.67%
Gross Profit Margin 50.0%
Selling, General & Admin $560.0K $1.767M $730.0K
YoY Change 27.27% 28.07%
% of Gross Profit 1460.0%
Research & Development $0.00
YoY Change
% of Gross Profit 0.0%
Depreciation & Amortization $23.83K $132.3K $230.0K
YoY Change -49.23% -76.8% 27.78%
% of Gross Profit 460.0%
Operating Expenses $560.0K $1.774M $1.040M
YoY Change 14.29% 70564.94% 38.67%
Operating Profit -$604.9K -$1.774M -$990.0K
YoY Change 29.58% -63.06% 43.48%
Interest Expense $89.36K $134.1K -$30.00K
YoY Change 169.24% 19.25% 50.0%
% of Operating Profit
Other Income/Expense, Net -$89.36K -$134.1K $0.00
YoY Change 180.53% 28.41%
Pretax Income -$694.2K -$1.908M -$940.0K
YoY Change 39.22% -61.11% -78.73%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$667.3K -$1.852M -$500.0K
YoY Change 51.09% -55.67% -79.34%
Net Earnings / Revenue -782.25% -420.06% -500.0%
Basic Earnings Per Share -$2.32
Diluted Earnings Per Share -$804.9K -$2.31 -$617.3K
COMMON SHARES
Basic Shares Outstanding 31.22M shares 823.9K shares 30.61M shares
Diluted Shares Outstanding 824.5K shares

Balance Sheet

Concept 2017 Q1 2016 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.00K $56.46K $0.00
YoY Change -33.33% 2272.27%
Cash & Equivalents $20.48K $56.46K $2.384K
Short-Term Investments
Other Short-Term Assets $10.00K $9.950K $10.00K
YoY Change 0.0% 13.97% -50.0%
Inventory
Prepaid Expenses $7.494K $8.734K
Receivables $38.28K $44.38K $37.69K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $66.25K $110.8K $48.81K
YoY Change -67.9% 126.98% -74.41%
LONG-TERM ASSETS
Property, Plant & Equipment $620.0K $637.3K $780.0K
YoY Change -17.33% -18.45% -16.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $759.7K $774.9K $913.1K
YoY Change -3.82% -15.14% -9.86%
TOTAL ASSETS
Total Short-Term Assets $66.25K $110.8K $48.81K
Total Long-Term Assets $759.7K $774.9K $913.1K
Total Assets $826.0K $885.7K $961.9K
YoY Change -17.1% -7.93% -20.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $531.8K $420.6K $1.592M
YoY Change -68.81% -73.58% 42.13%
Accrued Expenses $405.4K $2.236M $534.6K
YoY Change 6.34% 66.92% 141.68%
Deferred Revenue
YoY Change
Short-Term Debt $580.0K $0.00 $630.0K
YoY Change -14.71% -21.25%
Long-Term Debt Due $564.3K
YoY Change -10.85%
Total Short-Term Liabilities $2.888M $3.307M $3.588M
YoY Change -24.84% -7.82% 36.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $40.00K $7.140K $90.00K
YoY Change -20.0% -92.47% 125.0%
Total Long-Term Liabilities $40.45K $7.140K $94.77K
YoY Change -16.28% -92.47% 134.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.888M $3.307M $3.588M
Total Long-Term Liabilities $40.45K $7.140K $94.77K
Total Liabilities $2.928M $11.20M $3.683M
YoY Change -24.73% 17.75% 37.81%
SHAREHOLDERS EQUITY
Retained Earnings -$46.81M -$44.29M
YoY Change 4.64% 10.41%
Common Stock $36.16M $35.74M
YoY Change 1.1% 2.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.65M -$10.31M -$8.549M
YoY Change
Total Liabilities & Shareholders Equity $826.0K $885.7K $961.9K
YoY Change -17.1% -7.93% -20.09%

Cashflow Statement

Concept 2017 Q1 2016 2015 Q4
OPERATING ACTIVITIES
Net Income -$667.3K -$1.852M -$500.0K
YoY Change 51.09% -55.67% -79.34%
Depreciation, Depletion And Amortization $23.83K $132.3K $230.0K
YoY Change -49.23% -76.8% 27.78%
Cash From Operating Activities -$817.0K -$2.027M $160.0K
YoY Change 216.82% 16.58% -116.49%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$18.44K -$530.0K
YoY Change -100.0% -98.26% -172.6%
Acquisitions
YoY Change
Other Investing Activities $97.09K $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $78.65K -$530.0K
YoY Change -100.0% -107.43% -157.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $781.0K $2.003M 260.0K
YoY Change 158.61% -28.41%
NET CHANGE
Cash From Operating Activities -$817.0K -$2.027M 160.0K
Cash From Investing Activities $0.00 $78.65K -530.0K
Cash From Financing Activities $781.0K $2.003M 260.0K
Net Change In Cash -$35.98K $54.07K -110.0K
YoY Change -240.06% -9807.72% 120.0%
FREE CASH FLOW
Cash From Operating Activities -$817.0K -$2.027M $160.0K
Capital Expenditures $0.00 -$18.44K -$530.0K
Free Cash Flow -$817.0K -$2.009M $690.0K
YoY Change 243.46% 195.32% -140.59%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016 dei Amendment Flag
AmendmentFlag
false
CY2016 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2016 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016 dei Document Period End Date
DocumentPeriodEndDate
2016-12-31
CY2016 dei Document Type
DocumentType
10-K
CY2016 dei Entity Central Index Key
EntityCentralIndexKey
0000700764
CY2017Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
31220326 shares
CY2016 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2016 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2016Q2 dei Entity Public Float
EntityPublicFloat
2269244 USD
CY2016 dei Entity Registrant Name
EntityRegistrantName
VICTORY ENERGY CORP
CY2016 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2016 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2016 dei Trading Symbol
TradingSymbol
VYEY
CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1591764 USD
CY2016Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
420559 USD
CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
37690 USD
CY2016Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
44379 USD
CY2015Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
131584 USD
CY2016Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
137556 USD
CY2015 us-gaap Accretion Of Discount
AccretionOfDiscount
146500 USD
CY2016 us-gaap Accretion Of Discount
AccretionOfDiscount
87200 USD
CY2015Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
534619 USD
CY2016Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
746491 USD
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
35708746 USD
CY2016Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
35795479 USD
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
58373 USD
CY2016 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
86733 USD
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
200000 USD
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
200000 USD
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 USD
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 USD
CY2015 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
40823 USD
CY2016 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
40823 USD
CY2014Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
44214 USD
CY2015Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
109171 USD
CY2016Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
83991 USD
CY2015 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
5340 USD
CY2016 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
2670 USD
CY2015Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
14403 USD
CY2016Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
76850 USD
CY2015 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
2506 USD
CY2016 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
0 USD
CY2015 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
3721 USD
CY2016 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
27850 USD
CY2016Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
7141 USD
CY2015Q4 us-gaap Assets
Assets
961937 USD
CY2015 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
60832 USD
CY2016 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0 USD
CY2015Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
94768 USD
CY2016Q4 us-gaap Assets Current
AssetsCurrent
110786 USD
CY2016Q4 us-gaap Assets
Assets
885675 USD
CY2015Q4 us-gaap Assets Current
AssetsCurrent
48808 USD
CY2015 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
293304 USD
CY2016 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
230661 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2941 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2384 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
56456 USD
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-557 USD
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
54072 USD
CY2015Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 USD
CY2016Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 USD
CY2015Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
8622486 shares
CY2016Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
11392386 shares
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
47500000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
47500000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31220326 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31220326 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31220326 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31220326 shares
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
31220 USD
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
31220 USD
CY2016Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
50 shares
CY2006Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
100 shares
CY2015 us-gaap Cost Of Goods Sold Oil And Gas
CostOfGoodsSoldOilAndGas
1699186 USD
CY2016 us-gaap Cost Of Goods Sold Oil And Gas
CostOfGoodsSoldOilAndGas
248679 USD
CY2015 us-gaap Costs And Expenses
CostsAndExpenses
6088974 USD
CY2016 us-gaap Costs And Expenses
CostsAndExpenses
2219258 USD
CY2015 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties
CostsIncurredAcquisitionOfOilAndGasProperties
0 USD
CY2016 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties
CostsIncurredAcquisitionOfOilAndGasProperties
0 USD
CY2015 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
1058704 USD
CY2016 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
18442 USD
CY2015 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
1061210 USD
CY2016 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
18442 USD
CY2015 us-gaap Decrease Due To Sales Of Minerals In Place
DecreaseDueToSalesOfMineralsInPlace
0 USD
CY2016 us-gaap Decrease Due To Sales Of Minerals In Place
DecreaseDueToSalesOfMineralsInPlace
15500 USD
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
10346505 USD
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7493469 USD
CY2015Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2016Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
6859102 USD
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7403629 USD
CY2015Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
7222 USD
CY2016Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
3106 USD
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1920230 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
86734 USD
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses
1559951 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses
0 USD
CY2015 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
570337 USD
CY2016 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
132339 USD
CY2015Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
805179 USD
CY2016Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
1489973 USD
CY2015 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
CY2016 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.3375
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.3389
CY2015Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
2345940 USD
CY2016Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
1272950 USD
CY2015Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
87650 USD
CY2016Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
0 USD
CY2015Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
1293770 USD
CY2016Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
631423 USD
CY2015Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
964520 USD
CY2016Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
641527 USD
CY2015Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
421640 USD
CY2016Q4 us-gaap Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
159123 USD
CY2015 us-gaap Gain Loss On Sale Of Oil And Gas Property
GainLossOnSaleOfOilAndGasProperty
0 USD
CY2016 us-gaap Gain Loss On Sale Of Oil And Gas Property
GainLossOnSaleOfOilAndGasProperty
125774 USD
CY2015 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
637248 USD
CY2016 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
153624 USD
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
3721 USD
CY2016 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
27850 USD
CY2015 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
637248 USD
CY2016 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4389788 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1961314 USD
CY2015 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
867048 USD
CY2016 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2016 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4905518 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1906599 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
876507 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1112210 USD
CY2015 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
327245 USD
CY2016 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
684794 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3875 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6689 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
7217 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
5972 USD
CY2015 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
313410 USD
CY2016 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
211872 USD
CY2015 us-gaap Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
500600 USD
CY2016 us-gaap Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
0 USD
CY2015 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-13112 USD
CY2016 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1217 USD
CY2015 us-gaap Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
531700 USD
CY2016 us-gaap Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
0 USD
CY2015 us-gaap Interest Expense
InterestExpense
112468 USD
CY2016 us-gaap Interest Expense
InterestExpense
134116 USD
CY2015 us-gaap Interest Paid
InterestPaid
40053 USD
CY2016 us-gaap Interest Paid
InterestPaid
46056 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
29250 USD
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
30000 USD
CY2015 us-gaap Lease Operating Expense
LeaseOperatingExpense
159800 USD
CY2016 us-gaap Lease Operating Expense
LeaseOperatingExpense
105245 USD
CY2015Q4 us-gaap Liabilities
Liabilities
3682956 USD
CY2016Q4 us-gaap Liabilities
Liabilities
3314560 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
961937 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
885675 USD
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3588188 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3307419 USD
CY2015Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
94768 USD
CY2016Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
7141 USD
CY2016Q4 us-gaap Line Of Credit Facility Fair Value Of Amount Outstanding
LineOfCreditFacilityFairValueOfAmountOutstanding
570500 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
5828141 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
7885166 USD
CY2016Q4 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.50
CY2016Q4 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.5
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2797000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2002500 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1058704 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
78652 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1738853 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2027080 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-4177300 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
-1851624 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-728218 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-54975 USD
CY2015 us-gaap Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
235300 USD
CY2016 us-gaap Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
220100 USD
CY2015 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-104440 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-128144 USD
CY2015Q4 us-gaap Notes Payable Current
NotesPayableCurrent
632940 USD
CY2016Q4 us-gaap Notes Payable Current
NotesPayableCurrent
564263 USD
CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
2274188 USD
CY2016Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
2166643 USD
CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Impairment
OilAndGasPropertySuccessfulEffortMethodAccumulatedImpairment
8283321 USD
CY2016Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Impairment
OilAndGasPropertySuccessfulEffortMethodAccumulatedImpairment
8283321 USD
CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
3033279 USD
CY2016Q4 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
2787986 USD
CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
759091 USD
CY2016Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
621343 USD
CY2015 us-gaap Oil And Gas Revenue
OilAndGasRevenue
650648 USD
CY2016 us-gaap Oil And Gas Revenue
OilAndGasRevenue
287179 USD
CY2015 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
650648 USD
CY2016 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
287179 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-4801078 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
-1778455 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
0 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
0 USD
CY2012Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
13807335 USD
CY2016Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
21775380 USD
CY2015Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
10346505 USD
CY2016Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
7493469 USD
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9283 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9283 USD
CY2015 us-gaap Other Utility Costs
OtherUtilityCosts
2513 USD
CY2016 us-gaap Other Utility Costs
OtherUtilityCosts
3000 USD
CY2016 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
0 USD
CY2015 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
1058704 USD
CY2016 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
18442 USD
CY2006Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2006Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
715517 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
68966 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
68966 shares
CY2006Q4 us-gaap Preferred Stock Value
PreferredStockValue
246950 USD
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
8734 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
9951 USD
CY2015 us-gaap Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
0 USD
CY2016 us-gaap Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
12500 USD
CY2015 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
0 USD
CY2016 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
97094 USD
CY2015 us-gaap Production Tax Expense
ProductionTaxExpense
32704 USD
CY2016 us-gaap Production Tax Expense
ProductionTaxExpense
14690 USD
CY2015 us-gaap Profit Loss
ProfitLoss
-4905518 USD
CY2016 us-gaap Profit Loss
ProfitLoss
-1906599 USD
CY2015Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
46883 USD
CY2016Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
46883 USD
CY2015Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
24429 USD
CY2016Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
30893 USD
CY2015Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
22454 USD
CY2016Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
15990 USD
CY2015Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
9940660 USD
CY2016Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
9695367 USD
CY2015 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
120000 USD
CY2016 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
109500 USD
CY2015 us-gaap Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
66172 USD
CY2016 us-gaap Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
2670 USD
CY2015 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
637121 USD
CY2016 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
135009 USD
CY2015 us-gaap Results Of Operations Income Before Income Taxes
ResultsOfOperationsIncomeBeforeIncomeTaxes
-1048538 USD
CY2016 us-gaap Results Of Operations Income Before Income Taxes
ResultsOfOperationsIncomeBeforeIncomeTaxes
38500 USD
CY2015 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
ResultsOfOperationsOilAndGasProducingActivitiesNetIncomeExcludingCorporateOverheadAndInterestCosts
-1048538 USD
CY2016 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
ResultsOfOperationsOilAndGasProducingActivitiesNetIncomeExcludingCorporateOverheadAndInterestCosts
38500 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-44289126 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-46140750 USD
CY2015 us-gaap Revenues
Revenues
1287896 USD
CY2016 us-gaap Revenues
Revenues
440803 USD
CY2015 us-gaap Revisions Of Previous Quantity Estimates
RevisionsOfPreviousQuantityEstimates
-803900 USD
CY2016 us-gaap Revisions Of Previous Quantity Estimates
RevisionsOfPreviousQuantityEstimates
-153900 USD
CY2015 us-gaap Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
455600 USD
CY2016 us-gaap Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
173400 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
567112 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
86733 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P36M
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1430000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1055000 shares
CY2016 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
50000 shares
CY2015 us-gaap Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
224300 USD
CY2016 us-gaap Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
63400 USD
CY2014Q4 us-gaap Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
964000 USD
CY2015Q4 us-gaap Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
872130 USD
CY2016Q4 us-gaap Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
472300 USD
CY2015 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
2017500 shares
CY2015 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
169210 USD
CY2016 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
86733 USD
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
508739 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-8549160 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-10314051 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1468823 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2721019 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2428885 USD
CY2015Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
1375940 USD
CY2016Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
1375940 USD
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
29803421 shares
CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31220326 shares
CY2015 vyey Amortizationof Deferred Financing Costsasa Resultof Debt Settlement
AmortizationofDeferredFinancingCostsasaResultofDebtSettlement
0 USD
CY2016 vyey Amortizationof Deferred Financing Costsasa Resultof Debt Settlement
AmortizationofDeferredFinancingCostsasaResultofDebtSettlement
88060 USD
CY2015 vyey Book Loss
BookLoss
0.34
CY2016 vyey Book Loss
BookLoss
0.34
CY2015 vyey Capital Contributions
CapitalContributions
2917000 USD
CY2016 vyey Capital Contributions
CapitalContributions
2112000 USD
CY2015Q4 vyey Common Stock Equivalents
CommonStockEquivalents
10190418 shares
CY2016Q4 vyey Common Stock Equivalents
CommonStockEquivalents
12585318 shares
CY2016Q4 vyey Common Stock Neededto Settle Convertible Preferred Stock
CommonStockNeededtoSettleConvertiblePreferredStock
138000 shares
CY2015Q4 vyey Convertible Preferred Stock Common Stock Equivalent
ConvertiblePreferredStockCommonStockEquivalent
137932 shares
CY2016Q4 vyey Convertible Preferred Stock Common Stock Equivalent
ConvertiblePreferredStockCommonStockEquivalent
137932 shares
CY2015 vyey Costs Incurred Oil And Gas Property Undrilled Leaseholds
CostsIncurredOilAndGasPropertyUndrilledLeaseholds
0 USD
CY2016 vyey Costs Incurred Oil And Gas Property Undrilled Leaseholds
CostsIncurredOilAndGasPropertyUndrilledLeaseholds
0 USD
CY2015 vyey Debt Discount Accretion
DebtDiscountAccretion
0.0010
CY2016 vyey Debt Discount Accretion
DebtDiscountAccretion
0.0011
CY2015 vyey Dry Hole Costs
DryHoleCosts
2513 USD
CY2016 vyey Dry Hole Costs
DryHoleCosts
3000 USD
CY2015Q4 vyey Forbearance Agreement Paymentof Borrowing Base Deficiency
ForbearanceAgreementPaymentofBorrowingBaseDeficiency
50000 USD
CY2016Q4 vyey Forbearance Agreement Periodic Borrowing Base Deficiency Payment
ForbearanceAgreementPeriodicBorrowingBaseDeficiencyPayment
20000 USD
CY2015Q3 vyey Forbearance Agreement Remaining Borrowing Base Deficiency Due
ForbearanceAgreementRemainingBorrowingBaseDeficiencyDue
260000 USD
CY2015Q3 vyey Forebearance Agreement Borrowing Base Deficiency Payment
ForebearanceAgreementBorrowingBaseDeficiencyPayment
76081 USD
CY2016Q4 vyey Forebearance Agreement Borrowing Base Deficiency Payment
ForebearanceAgreementBorrowingBaseDeficiencyPayment
190500 USD
CY2016 vyey Future Net Cash Flows Discount Factor
FutureNetCashFlowsDiscountFactor
0.1
CY2015 vyey Impairment Of Oil And Gas Reserves
ImpairmentOfOilAndGasReserves
867048 USD
CY2016 vyey Impairment Of Oil And Gas Reserves
ImpairmentOfOilAndGasReserves
0 USD
CY2015 vyey Lease Operating Costs And Production Taxes
LeaseOperatingCostsAndProductionTaxes
192504 USD
CY2016 vyey Lease Operating Costs And Production Taxes
LeaseOperatingCostsAndProductionTaxes
119935 USD
CY2015 vyey Management Fee Income
ManagementFeeIncome
8028 USD
CY2016 vyey Management Fee Income
ManagementFeeIncome
5972 USD
CY2016 vyey Management Fee Related Party Percent
ManagementFeeRelatedPartyPercent
0.02
CY2015 vyey Meals And Entertainment
MealsAndEntertainment
0.1500
CY2016 vyey Meals And Entertainment
MealsAndEntertainment
0.0100
CY2015 vyey Net Operating Loss Reduction Due
NetOperatingLossReductionDue
0.0000
CY2016 vyey Net Operating Loss Reduction Due
NetOperatingLossReductionDue
0.0000
CY2015Q4 vyey Oil And Gas Property Successful Effort Method Cost
OilAndGasPropertySuccessfulEffortMethodCost
11316600 USD
CY2016Q4 vyey Oil And Gas Property Successful Effort Method Cost
OilAndGasPropertySuccessfulEffortMethodCost
11071307 USD
CY2016 vyey Operating Loss Carryforwards Increasefor Period
OperatingLossCarryforwardsIncreaseforPeriod
1601551 USD
CY2012 vyey Operating Loss Carryforwards Limitationson Use Period
OperatingLossCarryforwardsLimitationsonUsePeriod
P20Y
CY2016Q4 vyey Percentageof Partnership Interests Distributableat Companys Discretion
PercentageofPartnershipInterestsDistributableatCompanysDiscretion
1
CY2015Q4 vyey Proved Oiland Gas Properties Amount Subjectto Write Down
ProvedOilandGasPropertiesAmountSubjecttoWriteDown
1640147 USD
CY2015 vyey Relatedpartycontribution
Relatedpartycontribution
2917000 USD
CY2016 vyey Relatedpartycontribution
Relatedpartycontribution
2112000 USD
CY2015 vyey Results Of Operations Accretion Of Asset Retirement Obligation
ResultsOfOperationsAccretionOfAssetRetirementObligation
2506 USD
CY2016 vyey Results Of Operations Accretion Of Asset Retirement Obligation
ResultsOfOperationsAccretionOfAssetRetirementObligation
0 USD
CY2015 vyey Results Of Operations Depreciation Depletion Amortization
ResultsOfOperationsDepreciationDepletionAmortization
637121 USD
CY2016 vyey Results Of Operations Depreciation Depletion Amortization
ResultsOfOperationsDepreciationDepletionAmortization
125744 USD
CY2015 vyey Sharebased Compensation Arrangementby Sharebased Payment Award Stock Awards Grantedin Period Fair Value
SharebasedCompensationArrangementbySharebasedPaymentAwardStockAwardsGrantedinPeriodFairValue
508739 USD
CY2015 vyey Stock Grants In Exchange For Services
StockGrantsInExchangeForServices
169210 USD
CY2016 vyey Stock Grants In Exchange For Services
StockGrantsInExchangeForServices
0 USD
CY2016 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Concentrations:</font></div><div style="line-height:120%;text-align:justify;text-indent:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There is a ready market for the sale of crude oil and natural gas. During 2016 and 2015, our gas field and our producing wells sold their respective gas and oil production to one purchaser for each field or well. However, because alternate purchasers of oil and natural gas are readily available at similar prices, we believe that the loss of any of our purchasers would not have a material adverse effect on our financial results. A majority of the Company&#8217;s production and reserves are from the Eagle Ford property in South Texas and the Permian Basin of West Texas.</font></div></div>
CY2016 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Gain from Settlement Agreement and Sale of Oil and Gas Properties</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the year ended December 31, 2016, the Company sold undeveloped acreage in Howard County, Texas for </font><font style="font-family:inherit;font-size:10pt;">$88,800</font><font style="font-family:inherit;font-size:10pt;"> which was recorded as a gain on sale of oil and gas properties, as there was no remaining book value associated with this property.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the year ended December 31, 2015, Aurora entered into a Settlement Agreement and Release (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Settlement Agreement and Release</font><font style="font-family:inherit;font-size:10pt;">&#8221;) to settle the outstanding litigation between Aurora and Trilogy in the case styled </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Trilogy Operating, Inc. v. Aurora Energy Partners</font><font style="font-family:inherit;font-size:10pt;">, which was pending in Howard County, Texas (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Litigation</font><font style="font-family:inherit;font-size:10pt;">&#8221;). Pursuant to the Settlement Agreement and Release, Aurora agreed to assign any and all of its interests in </font><font style="font-family:inherit;font-size:10pt;">four</font><font style="font-family:inherit;font-size:10pt;"> specified wells located in Glasscock and Howard Counties, those being Wagga Wagga #2, Homar #1, Ballarat &#8216;185&#8217; #1 and BOA North #5 (collectively, the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Obligation Wells</font><font style="font-family:inherit;font-size:10pt;">&#8221;). The Company has not historically included any production or reserve information in its financial or operational reporting in any of its prior filings for these Obligation Wells. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A separate, but related, lawsuit between Trilogy Operating, Inc. and Aurora Energy Partner dated January 6, 2016 alleged causes of action for a suit on a sworn account, breach of contract and a suit to foreclose on liens regarding the drilling and completion of seven wells. On May 2, 2016, a Joint Motion to Dismiss with Prejudice was granted by the court resulting in the assignment of these seven wells, BOA 12 #1, BOA 12 #3, BOA 12 #4 North, Darwin #1, Darwin #2, Darwin #3 and Wagga Wagga #1. The liabilities associated with these wells exceeded the asset value by </font><font style="font-family:inherit;font-size:10pt;">$64,824</font><font style="font-family:inherit;font-size:10pt;"> which was recorded as a gain on legal settlement during the year ended December 31, 2016.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company recorded these costs, billed to it by the operator, in 2014 to oil and gas property acquisitions. In accordance with the Company&#8217;s impairment policy these costs were charged to impairment expense in the Company&#8217;s Consolidated Statement of Operations for the year ending December 31, 2014. Due to continuing litigation the related joint interest payable balance to the operator remained outstanding until the settlement on November 21, 2015. This settlement included the reversal or cancellation of all related outstanding joint interest billings payable to the operator. The Company therefore recorded a </font><font style="font-family:inherit;font-size:10pt;">$637,248</font><font style="font-family:inherit;font-size:10pt;"> non-cash gain on the settlement of this matter in the Company&#8217;s Consolidated Statement of Operations for the year ending December 31, 2015.</font></div></div>
CY2016 us-gaap Property Plant And Equipment Preproduction Design And Development Costs
PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Other Property and Equipment:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our office equipment in Austin, Texas is being depreciated on the straight-line method over the estimated useful life of </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">seven</font><font style="font-family:inherit;font-size:10pt;"> years.</font></div></div>
CY2016 us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Revenue Recognition</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company uses the sales method of accounting for oil and natural gas revenues. Under this method, revenues are recognized based on actual volumes of gas and oil sold to purchasers. The volumes sold may differ from the volumes to which the Company is entitled based on our interests in the properties. Differences between volumes sold and entitled volumes create oil and natural gas imbalances which are generally reflected as adjustments to reported proved oil and natural gas reserves and future cash flows in their supplemental oil and natural gas disclosures. If their excess takes of natural gas or oil exceed their estimated remaining proved reserves for a property, a natural gas or oil imbalance liability is recorded in the Consolidated Balance Sheets.</font></div></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of Estimates:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (&#8220;GAAP&#8221;) requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are used primarily when accounting for depreciation, depletion, and amortization (&#8220;DD&amp;A&#8221;) expense, property costs, estimated future net cash flows from proved reserves, cost to abandon and impaired oil and natural gas properties, taxes, accruals of capitalized costs, operating costs and production revenue, general and administrative costs and interest, purchase price allocation on properties acquired, various common stock, warrants and option transactions, and loss contingencies.</font></div></div>

Files In Submission

Name View Source Status
0001628280-17-003237-index-headers.html Edgar Link pending
0001628280-17-003237-index.html Edgar Link pending
0001628280-17-003237.txt Edgar Link pending
0001628280-17-003237-xbrl.zip Edgar Link pending
a201610kexhibit211.htm Edgar Link pending
a201610kvyey_ex231.htm Edgar Link pending
a201610kvyey_ex232.htm Edgar Link pending
a201610kvyey_ex311.htm Edgar Link pending
a201610kvyey_ex312.htm Edgar Link pending
a201610kvyey_ex321.htm Edgar Link pending
a201610kvyey_ex322.htm Edgar Link pending
a2016resesrvereport.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vyey-20161231.xml Edgar Link completed
vyey-20161231.xsd Edgar Link pending
vyey-20161231_cal.xml Edgar Link unprocessable
vyey-20161231_def.xml Edgar Link unprocessable
vyey-20161231_lab.xml Edgar Link unprocessable
vyey-20161231_pre.xml Edgar Link unprocessable
vyey1231201610k.htm Edgar Link pending