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ROYALE ENERGY INC - $ROYL STOCK NEWS

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Rhea-AI Summary
Royale Energy, Inc. (OTCQB: ROYL) announces new progress on its Joint Development Agreement (JDA) with Ares Energy LTD, with initial rates of 1,315 BOEPD and 1,227 BOEPD in the latest two wells. The project is a horizontal resource play in the Mississippian interval, located in the Permian Basin, Texas. Royale and its investors have a 7% Working Interest in the third and fourth wells drilled on the 6,900 net acres project, located in Ector County, Texas. The third well demonstrated an initial production rate of 1,093 BOPD & 1,332 MCFD, with expected reserves exceeding 1,400,000 barrels of oil equivalent. The fourth well demonstrated an initial rate of 1,024 BOPD & 1,219 MCFD with expected reserves exceeding 1,400,000 barrels of oil equivalent. The company anticipates drilling one more well in 2023 and four to six more wells in 2024 on this project.
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Rhea-AI Summary
Royale Energy announces initial rate of 1,347 BOPD and 1,649 MCFD, positive progress on Joint Development Agreement with Ares Energy LTD in the Permian Basin. Expected reserves exceed 1,500,000 barrels of oil equivalent. Anticipate drilling more wells in 2023 and 2024.
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ROYALE ENERGY INC

OTC:ROYL

ROYL Rankings

ROYL Stock Data

3.74M
40.51M
41.29%
1.1%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
Link
United States of America
El Cajon

About ROYL

founded in 1986, royale energy, inc. is an independent exploration and production company focused on the acquisition, development, and marketing of natural gas. incorporated under the laws of the state of california, royale energy owns and operates wells in the sacramento and san joaquin basins in california and in the u.s. gulf coast.