Royale Energy, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 23, 2022 at 03:23 pm EDT
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Royale Energy, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported revenue was USD 0.516505 million compared to USD 0.401263 million a year ago. Net loss was USD 0.052351 million compared to USD 0.572167 million a year ago.
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. 
