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Royale Energy Inc (NASDAQ:ROYL)
Industry: Basic Materials
Royale Energy, Inc. operates as an independent oil and natural gas producer in the United States. It engages in the production and sale of natural gas; acquisition of oil and gas lease interests and proved reserves; drilling of exploratory and development wells; and sale of fractional working interests in wells to be drilled. The company owns wells and leases located principally in the Sacramento Basin and San Joaquin Basin in California, as well as in Utah, Texas, Oklahoma, Louisiana, and Alaska. In addition, it holds proved developed producing and non-producing reserves of oil and natural gas in Utah, Texas, Oklahoma, and Louisiana. As of December 31, 2011, the company operated 57 natural gas wells in California; owned and operated 7 natural gas wells in Utah; and had non operating interests in 12 oil and gas wells in Texas, 3 in Oklahoma, 1 in California, and 2 in Louisiana. It also had proved developed reserves of 4,174 MMCF and total proved reserves of 4,570 MMCF of natural gas; and proved developed oil reserves of 5 MBBL and total proved oil reserves of 5 MBBL. The company was founded in 1986 and is based in San Diego, California.
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