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About Velocity Energy
Its shares trade under the ticker VCYE. It has been listed since 21 June 2001. In the fiscal year to 31 December 2010, it reported revenue of $351,923 and net income of $296,552. At that date it held total assets of $1.8m and shareholders' equity of −$11.7m.
Velocity Energy Inc. is an independent energy company, which engages in the acquisition, development, exploration, and production of oil and natural gas. The company is headquartered in Houston, Texas. The company went IPO on 2001-06-21. The Company’s oil and gas assets consist of certain oil and gas properties and related assets that the Company acquired from Cinco Natural Resources Corporation (Cinco) and Flash Gas & Oil Southwest, Inc. (Flash). The Company’s wholly owned subsidiary, Sonterra Operating, Inc., is an operator of its oil and gas properties, which are located in Matagorda Bay in Texas State Waters lying offshore the Texas coastal counties of Calhoun and Matagorda. The firm purchased 60% of the interests held by Cinco in the Texas State Tract 150 Wells No. 1 and No. 2 located in Matagorda Bay, Texas, as well as 320 acre oil and gas lease related to those wells and certain other leases covering approximately 3,200 additional acres located in Matagorda Bay. On July 8, 2008, the Company acquired Velocity Energy Offshore LP and Velocity Energy Partners LP.
Figures and description from our data supplier, not checked against the company's own report.
Company facts
- Sector
- Energy
- Industry
- Oil, Gas & Consumable Fuels
- Listed since
- 21 Jun 2001
- Employees
- 8
Leadership
Pay as last reported
- Donald VandenbergChairman of the Board, Chief Executive Officer, President, since 2008$270,000
- Mr. Donald SebastianChief Financial Officer, Vice President$180,000
- Gary LancasterVice President, Secretary, Chief Legal Officer, Director, since 2008$250,000
- Jeffrey ToothDirector
- Herbert WarnerDirector
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Velocity Energy Inc has several key strengths that contribute to its success in the market. Firstly, the company has a strong portfolio of renewable energy projects, which enables it to tap into the growing demand for clean and sustainable energy sources. This allows the company to position itself as an environmentally responsible choice, attracting environmentally conscious consumers and investors.
- Additionally, Velocity Energy Inc has a highly skilled and experienced team of engineers and technicians who are experts in the field of renewable energy. This expertise gives the company a competitive edge in terms of project development, implementation, and maintenance, ensuring the efficient and reliable operation of its energy projects.
- Another strength of Velocity Energy Inc is its strong financial position. The company has successfully secured funding from various sources, including government grants, private investors, and financial institutions. This financial stability enables the company to invest in research and development, as well as expand its operations and seize new opportunities in the market.
Weaknesses
- Despite its strengths, Velocity Energy Inc also faces certain weaknesses that need to be addressed. One weakness is its limited geographical presence. The company primarily operates in a specific region, which may restrict its ability to capture a larger market share and limit its growth potential.
- Furthermore, Velocity Energy Inc is highly dependent on government policies and regulations. Changes in these policies or a decrease in government support for renewable energy initiatives could impact the company's profitability and viability. It is crucial for the company to diversify its operations and reduce reliance on government incentives.
Opportunities
- The renewable energy sector offers significant opportunities for Velocity Energy Inc. With the increasing global focus on sustainability and reducing carbon emissions, there is a growing demand for renewable energy solutions. This provides the company with the chance to expand its market presence and attract new customers.
- Furthermore, technological advancements in the renewable energy industry create opportunities for Velocity Energy Inc to develop more efficient and cost-effective energy solutions. By investing in research and development, the company can stay at the forefront of innovation and gain a competitive advantage in the market.
Threats
- Velocity Energy Inc faces various threats that could impact its operations. One major threat is the volatility of energy prices. Fluctuations in energy prices, especially fossil fuel prices, can affect the competitiveness of renewable energy sources. The company needs to closely monitor market trends and adapt its pricing strategies accordingly.
- Moreover, competition from other renewable energy companies is a potential threat. As the renewable energy sector continues to grow, more players enter the market, intensifying competition. Velocity Energy Inc must differentiate itself by highlighting its unique strengths and adopting effective marketing strategies to attract and retain customers.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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