other material
confidence high
sentiment positive
materiality 0.65
Royale Energy completes V.T. McCabe #70 well; initial production 85 bbl oil, 120 Mcf gas/day
Royale Energy, Inc.
- Well encountered porous zones in Strawn and Odom formations; Odom completion averaging 85 bbl oil and 120 Mcf gas per day.
- Royale retains 40% working interest in the well; Upper Strawn formation with 35' net pay to be completed later.
- Since Jan 2020, Royale has drilled 7 wells and re-entered 3 wells in North Jameson Field.
- Aggressive fracture stimulation program began Oct 2022; 5 wells stimulated so far, 3 more planned by early Dec 2022.