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SAN DIEGO, June 04, 2019 (GLOBE NEWSWIRE) -- Royale Energy, Inc., (OTCQB : ROYL), an independent exploration and production company based in San Diego, California announced today, that Royale Energy, Inc. (Royale) in partnership with California Resources Production Corporation (CRPC) has initiated natural gas production from the CRC 4-1 well at a stabilized production rate of 3,000,000 cubic ft. per day.
The CRC RVGU 4-1 was drilled by Royale to a total depth of 7,400 ft. The open hole logs indicate 184 ft. of gas pay. The structure is located on a 50-acre closure/trap against the Midland Fault in Nortonville, Capay, Mokelumne and Bunker gas sands as delineated by well control and 3D seismic. It was initiated into production from the Mokelumne Bunker sand intervals.
This is the third well drilled and completed by the joint Royale / CRC technical team under the 2019 Three-Year Drilling Participation Program. An additional 5 prospects, all defined by historic well data and 3D seismic, are expected to be drilled from June through October 2019. Royale is drilling in a trend of multi-BCF production wells.
Royale Energy and its investors own a 60% working interest in CRC 4-1 at an 80% Net Revenue Interest, of which Royale owns approximately 36% working interest.
About Royale Energy. Inc.
Royale Energy, Inc. (OTCQB: ROYL) is an independent exploration and production company focused on the acquisition, development, and marketing of oil and natural gas. The Company has its primary operations in California’s Los Angeles and Sacramento Basins.
In addition to historical information contained herein, this news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company’s actual results to differ materially from those in the “forward-looking” statements. While the company believes its forward looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company’s control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.
Royale Energy, Inc.
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