Royale Energy, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 14, 2019 at 08:09 am EDT
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Royale Energy, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced total revenue was USD 422,128 compared to USD 794,359 a year ago. Operating loss was USD 744,380 compared to USD 844,894 a year ago. Net loss was USD 467,491 compared to USD 19.140 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.4 a year ago. For the half year, total revenue was USD 1.395 million compared to USD 1.517 million a year ago. Operating loss was USD 1.459 million compared to USD 2.203 million a year ago. Net loss was USD 3.104 million compared to USD 20.774 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.52 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. 
