Petro-Victory Energy Corp. said its first year operating Capixaba Energia delivered sharply higher production, lower unit costs and stronger cash generation, underscoring the company’s strategy of revitalizing mature onshore oil and gas assets in Brazil. Oil production rose 128% to 583 bbl/d from 256 bbl/d, while gas production increased 471%. Production costs fell 37% to US$16.3/bbl from US$25.8/bbl, and the business generated R$17 million of free cash flow from operations that was reinvested into the asset. The company also reported a six-percentage-point improvement in the weighted-average discount on oil sales, to 11.3% from 17.3%. Operationally, Petro-Victory said it achieved 98.7% efficiency during its workover campaign (maintenance and well-restoration program), with 2,682 productive hours, 35 hours of non-productive time and zero accidents. Three wells — LP-38, LP-73 and LP-77D — were validated, and the Upper Urucutuca was confirmed as a new commercial horizon without additional drilling. Water injection capacity rose about 67% to 20,000 bpd from 12,000 bpd without additional CAPEX (capital spending). The company said those results support a scalable model built with Blue Oak Investments for acquiring and optimizing mature onshore assets across Brazil and Latin America.