Royale’s CRC RVGU 33-2 Well at Rio Vista Now on Production at 2,100,000 Cubic ft. per Day
April 11 2019 - 8:26AM
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 33-2 well at a
stabilized production rate of 2,100,000 cubic ft. per day.
In addition, the CRC RVGU 4-1 was recently drilled
by Royale to a total depth of 7,400 ft. The open hole logs indicate
184 ft. of probable and possible gas zones and we anticipate
testing of the well will begin mid-month.
The positive results from the recent drilling
program is a promising start to the possible 30 well, three year
drilling joint venture between Royale Energy and California
Resources Production Corporation in the Rio Vista field, the
largest dry natural gas field in California. Royale is drilling in
a trend of multi-BCF production wells and will utilize historic
well data and 3D seismic to maximize production in the new wells to
benefit Royale shareholders, its investors and its partner in the
project, California Resources Production Corporation.
Royale Energy and its investors own a 60% working
interest in the CRC 33-2 at an 80% Net Revenue Interest, of which
Royale owns approximately 15% working interest.
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.
Forward-Looking StatementIn
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.
Contact:Royale Energy, Inc.Chanda
IdanoDirector of Marketing &
PR619-383-6600chanda@royl.comhttp://www.royl.com
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