Petro-Victory Energy Corp. has completed its previously announced acquisition of Capixaba Energia LTDA, a producing oil and gas asset, generating substantial free cash flow, in the Espírito Santo Basin.
The acquisition was completed in partnership with BlueOak Investments, Petro-Victory’s strategic financial partner. This acquisition, originally announced on March 6, 2025, marks the first successful transaction under the Petro-Victory and BlueOak partnership, reinforcing their shared commitment to unlocking value in Brazil’s energy sector.
“The closing of the Capixaba Energia acquisition marks a major milestone for Petro-Victory and a testament to the strength of our strategic partnership with BlueOak Investments,” said Richard F. Gonzalez, CEO of Petro-Victory. “This transaction enhances our operational position in Brazil, delivering immediate positive cash flowing production, critical infrastructure, and significant future upside. With BlueOak’s financial backing and our operational expertise, we are well-positioned to unlock value, optimize profitability, production, and drive long-term growth for our shareholders.”
“Our partnership with Petro-Victory reflects our long-term conviction in the Brazilian energy market and our belief in the value that disciplined, performance-driven investment can unlock,” added Meton Morais, CEO of BlueOak. “Capixaba Energia represents the kind of asset we seek—profitable, producing, scalable production that is strategically located. We’re proud to back this transaction and look forward to accelerating growth through continued collaboration with Petro-Victory.”
As legacy producers look to scale back, Petro-Victory is moving ahead, leveraging a flexible, performance-based joint venture model to unlock value and capitalize on accelerated M&A opportunities across Brazil’s onshore sector.
