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August 1, 2014
09:37 EDTROYLRoyale Energy reports Q2 EPS 2c
Revenue for the six month ended June 30 increased to $1.9M in 2014 from $1.1M in 2013. Total production for the six months increased 53% to 307,967 MCFE, while the average price rose 35% over a year ago to $5.03 per MCF. The company plans on drilling the McKinney well this month, the fourth well this year. Royale expects to drill five additional wells, bringing the total to nine for 2014.
News For ROYL From The Last 14 Days
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November 13, 2014
14:29 EDTROYLRoyale Energy announces McKinney well put into production
Royale Energy announced that its McKinney well has been put into production at a stabilized rate of 1,050 MCF of natural gas per day with a pressure of 2,700 psi. The company is also conducting a series of workovers and recompletions on some of its existing production. On September 25th the Victor Ranch 3-20 was recompleted in a new zone and is currently producing over 400 MCF per day. On October 16th a workover on the Andrus Island well resulted in an increase of 240 MCF per day. The company's Jewel well was also recompleted in a shallower zone. A total of 15 ft of formation was opened in the new zone and the well increased to a stabilized pressure of 2,500 psi. These operations have resulted in increased natural gas production of 2,000,000 cubic ft. Three more wells will have workovers by the end of the year to add additional production at the higher winter natural gas prices that have reached $4.75 per MCF at the PG&E city-gate on Tuesday, November 11.

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