Victory Oilfield Tech, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023

Victory Oilfield Tech, Inc. is an oilfield energy technology products company. The Company is focused on enhancing the lifespan of the industry’s equipment. The Company operates in one reportable segment, being Hardband Services, which provides various hardbanding solutions to oilfield operators for drill pipe, weight pipe, tubing, and drill collars. The Company provides and applies wear-resistant alloys for use in the global oilfield services industry. Its wear-resistant alloys reduce drill-string torque, friction, wear and corrosion. It applies its coatings using advanced welding techniques and thermal spray methods. The Company provides tubing and drill-pipe metal coating products, radio frequency identification (RFID) enclosure products, and other services that provide protection and friction reduction for the metal component of a drilling operation.