Royale Energy, Inc. Reports Earnings Results for the Full Year Ended December 31, 2018
April 16, 2019 at 06:16 am EDT
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Royale Energy, Inc. announced earnings results for the full year ended December 31, 2018. For the full year, the company announced total revenue was USD 3.283 million compared to USD 1.007 million a year ago. Operating loss was USD 3.204 million compared to USD 2.341 million a year ago. Net loss was USD 23.504 million compared to USD 2.427 million a year ago. Basic loss per share from continuing operations was USD 0.55 compared to USD 0.11 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. 