Royale Energy, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 14, 2020 at 06:06 am EDT
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Royale Energy, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced total revenue was USD 223,141 compared to USD 422,128 a year ago. Operating loss was USD 32,645 compared to USD 744,380 a year ago. Net loss was USD 312,384 compared to USD 467,491 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the half year, total revenue was USD 606,955 compared to USD 1.395 million a year ago. Operating loss was USD 922,604 compared to USD 1.459 million a year ago. Net income was USD 71,978 compared to net loss of USD 3.104 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.07 a year ago.
Royale Energy Funds, Inc. is an independent oil and gas producer. The Company also performs turnkey drilling operations. The Company owns wells and leases in various geological basins located primarily in California, Texas, Oklahoma, and Utah, and offers fractional working interests. The Company also owns an overriding royalty interest in discovery in Alaska. It usually sells a portion of the working interest in each well it drills or participates with third-party participants and retains a portion of the prospect for its own account. The Company generally sells working interests in its prospects to accredited investors in exempt securities offerings. The prospects are typically bundled into multi-well investments, which permit third-party investors to diversify their investments by investing in several wells at once instead of investing in single-well prospects. The Company owns an interest in approximately 70 producing oil and natural gas wells.
ROYALE ENERGY, INC. 
