Royale Energy, Inc. Signs Drilling Contract for Three Additional Wells in Rio Vista Field in Sacramento Basin
May 09, 2017 at 08:05 am EDT
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Royale Energy, Inc. announced it has signed a drilling contract for three additional wells in Rio Vista Field in Sacramento Basin and expects to begin drilling operations by the end of the month. The CRC 8-3, the CRC 8-4 and the CRC 8-5 wells will be drilled under Royale’s joint venture agreement covering the Rio Vista Field. Using 3-D seismic, Royale and its partner have identified several prospective locations in the Martinez, McCormick and Capay formations in the field.
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. 
