First Well Completed on the Permian Basin Joint Development Agreement
Royale Announces initial rate of 818 BOPD and 1,100 MCFD
SAN DIEGO, March 27, 2023 (GLOBE NEWSWIRE) — Royale Energy, Inc., (OTCQB : ROYL), is pleased to announce initial production rates for the first well drilled on the Joint Development Agreement (JDA). The JDA was executed and announced November 21, 2022. This project is a horizontal resource play in the Mississippian interval. Royale Energy and its investors collectively own a 5% working interest in this first well drilled on the 6900 net acres project in Texas.