Royale Energy, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 03:01 pm EST
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Royale Energy, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 0.518565 million compared to USD 0.549818 million a year ago. Net loss was USD 0.47073 million compared to USD 0.426331 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
For the nine months, revenue was USD 1.62 million compared to USD 1.75 million a year ago. Net loss was USD 0.503761 million compared to USD 0.739184 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to USD 0.02 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. 
