SAN DIEGO, May 09, 2017 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (OTCQB:ROYL) announced it has signed a drilling contract for three additional wells in Rio Vista Field in Sacramento Basin and expects to begin drilling operations by the end of the month. The CRC 8-3, the CRC 8-4 and the CRC 8-5 wells will be drilled under Royale’s joint venture agreement covering the Rio Vista Field. Using 3-D seismic, Royale and its partner have identified several prospective locations in the Martinez, McCormick and Capay formations in the field.
In 2016, Royale successfully completed three wells, two of the wells in the Martinez formation in Rio Vista which are presently producing over 1,500 MCF per day. Rio Vista Field is the largest natural gas field in California. Since 1936, the field has produced over 3.5 TCF of natural gas.
Don Hosmer, President of Royale Energy said, "We are excited to begin our 2017 drilling campaign in the Rio Vista field. With natural gas prices continuing to stabilize and strengthen, we believe our Rio Vista development program will provide an excellent return for our shareholders and drilling investors."
About Royale Energy, Inc.
Founded in 1986, Royale Energy, Inc. (OTCQB: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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