Profile: Royale Energy Inc (ROYL.OQ)
8 May 2013
Royale Energy, Inc. (Royale Energy), incorporated in 1986, is an independent oil and natural gas producer. The Company operates in two segments: marketing direct working interests (DWI), and producing and selling oil and gas. The Company’s principal lines of business are the production and sale of natural gas, acquisition of oil and gas lease interests and proved reserves, drilling of both exploratory and development wells and sales of fractional working interests in wells to be drilled by Royale Energy. In December 2011, Royale Energy acquired 100,480 acres on the North Slope in a lease sale by the State of Alaska.
Royale Energy owns wells and leases located mainly in the Sacramento Basin and San Joaquin Basin in California as well as in Utah, Texas, Oklahoma, Louisiana and Alaska. Royale Energy usually sells a portion of the working interest in each lease that it acquires to third party investors and retains a portion of the prospect for its own account. Royale Energy generally sells working interests in its prospects to accredited investors in exempt securities offerings. As of December 31, 2011, the Company’s estimated total reserves were 4.6 Billions of Cubic Feet Equivalent. Royale Energy sells of its California natural gas production through PG&E pipelines to independent customers on a monthly contract basis, while some gas is delivered through privately owned pipelines to independent customers.
Royale Energy explores and develops natural gas properties with a concentration in California. It owns developed producing and non-producing reserves of oil and natural gas in Utah, Texas, Oklahoma and Louisiana. Royale Energy drilled seven wells in northern and central California; four were commercially productive wells and three were dry holes. Royale Energy owns lease interests in eleven gas fields with locations ranging from Tehama County in the north to Kern County in the south, in the Sacramento and San Joaquin Basins in California. As of December 31, 2011, Royale operated 57 wells in California.
Royale Energy Inc
7676 Hazard Center Drive
SAN DIEGO CA 92108