Royale Energy Inc (ROYL)

[OilStockReport]

Royale Energy (ROYL) use to be a pure natural gas play, but it has shifted some of its production to oil. Royale is an operator and sells working interests in those wells. It has interests in California, Utah, Texas, Oklahoma, and Louisiana.

In July of this year, Royale posted earnings for the second quarter of this year. It has over 9000 net developed and over 11,000 net undeveloped acres in California. Outside of California, Royale has approximately 1800 net developed and almost 14,000 net undeveloped acres.

Royale has begun selling interests in the wells it operates. The revenue from its turnkey drilling business, has allowed Royale to become profitable. Royale has also been able to keep decreasing costs which has improved its bottom line.