Royale Energy, Inc. Drills Multiple Formation Well at Rio Vista
August 28, 2019 at 08:19 am EDT
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Royale Energy, Inc. announced that Royale Energy, Inc. (Royale), in partnership with California Resources Production Corporation (CRPC), drilled the CRC RVGU 4-3 well to a total depth of 7,000 ft. in the Rio Vista field. The well has encountered a total of 246 ft. of pay defined as probable and possible in the Domengine, Capay, and Mokelumne River formations. The CRC RVGU 4-3 is the fifth well of a possible 30 well, three year drilling joint venture between Royale Energy and California Resources Production Corporation. This well has the highest calculated net pay that Royale and CRPC have drilled to date under the drilling joint venture in the Rio Vista Field. Production casing has been set and completion operations are expected to begin by the end of the month. Royale Energy owns approximately 26.5% working interest in the CRC 4-3 well at an 80% Net Revenue Interest. The CRC RVGU 33-3, the 6th well of this program, was determined to be a dry hole on August 23rd.
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. 
