Royale Energy, Inc. Commences Drilling in Rio Vista Field
September 01, 2016 at 11:39 am EDT
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Royale Energy Inc. announced that it has commenced drilling the first well under its joint venture agreement covering the Rio Vista Field in the Sacramento Basin. The field has produced over 3.5 TCF of natural gas. Using 3-D seismic, Royale and its partners have identified several prospective locations in the Martinez and Capay formations. The Royale CRC 8-1 will target the Martinez sand at a depth of approximately 6,000'. Royale expects to reach total depth by mid-September 2016.
Royale Energy Funds, Inc. is an independent oil and gas producer. The Company also performs turnkey drilling operations. The Company owns wells and leases in various geological basins located primarily in California, Texas, Oklahoma, and Utah, and offers fractional working interests. The Company also owns an overriding royalty interest in discovery in Alaska. It usually sells a portion of the working interest in each well it drills or participates with third-party participants and retains a portion of the prospect for its own account. The Company generally sells working interests in its prospects to accredited investors in exempt securities offerings. The prospects are typically bundled into multi-well investments, which permit third-party investors to diversify their investments by investing in several wells at once instead of investing in single-well prospects. The Company owns an interest in approximately 70 producing oil and natural gas wells.
ROYALE ENERGY, INC. 
