SAN DIEGO, Aug. 08, 2017 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (ROYL) (“Royale” or the “Company”) announced the successful completion of its third and fourth wells under joint development agreement in Rio Vista Gas Field, and the spudding of its first well under an agreement in Sansinena Oil Field.
The CRC RVGU 8-3 is a dual completion in the Capay and Martinez formations. Based on an initial 6-hour test with only a portion of the Martinez sand perforated, the well stabilized at 2,000 MCF per day with 1395 psi tubing pressure.
The CRC Rio Vista 8-4 was brought on line, August 4, 2017 and is presently flowing approximately 850 MCF per day from the Capay and McCormack formations. Additional proven reserves, including the upper McCormack and 48’ of Martinez sand are behind pipe and available for future recompletion.
The presence of a productive Capay sand in the 8-4 sets up additional Capay locations across the development acreage. Royale plans to drill an under balanced Capay well, the CRC RVGU 8-5, later this year.
On July 7, 2017, Royale entered an agreement to jointly develop two wells in Sansinena Field in Los Angeles County. The wells, Sansinena 9A4 and Sansinena 9A7 are scheduled to be drilled in the 3rd Quarter of 2017. The first well, Sansinena 9A4 will spud in August. Matrix Oil is the operator.
Don Hosmer, President of Royale Energy said, “We are extremely pleased with our continued success in Rio Vista. Using 3-D seismic, our team continues to find new opportunities in this prolific northern California gas field. We are also excited to spud our first well in Sansinena Field with our partners Matrix Oil. Sansinena is an underdeveloped oil field with over 75 Proven Undeveloped well (PUD) locations with 20 million barrels of proven undeveloped reserves.”
About Royale Energy, Inc.
Founded in 1986, Royale Energy, Inc. (ROYL) is an independent exploration and production company focused on the acquisition, development, and marketing of natural gas and oil. Royale Energy has its primary operations in the Sacramento and San Joaquin basins in California.
Forward-Looking Statements
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