Petro-Victory Energy Corp. (TSX-V:VRY) announced a strategic partnership with Blue Oak Investments to establish a Special Purpose Vehicle (SPV) focused on acquiring exploration and production (E&P) assets in Brazil and Latin America.
Under the agreement, Blue Oak will provide the financial capital for acquisitions, while Petro-Victory will manage operations and development.
The partnership aims to combine Blue Oak’s investment expertise with Petro-Victory’s operational capabilities to capitalize on opportunities in the energy sector across the region.
“We are proud to join forces with Blue Oak in this transformative partnership,” said Richard F. Gonzalez, CEO of Petro-Victory.
“Their strong capital position and extensive experience in structuring oil and gas transactions, combined with our operational excellence, position us to drive meaningful growth and unlock significant value in the E&P sector across Brazil and Latin America.”
Blue Oak, a prominent investment firm based in Brazil, brings over 70 years of combined experience in financial markets, with a focus on oil, gas, and energy. The firm has led transactions totaling more than BRL 40 billion (Brazilian Reals) globally, leveraging expertise in private equity and distressed investments.
“We are very pleased to establish this relationship with Petro-Victory, a distinguished organization with a world-class team, as we work together to explore promising opportunities in Brazil and Latin America,” said Meton Morais, founding partner at Blue Oak.
Petro-Victory holds 100% interests in 38 licenses covering 257,604 acres across two producing basins in Brazil.