Royale Energy, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 01:56 pm EDT
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Royale Energy, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 0.528885 million compared to USD 0.687155 million a year ago. Net loss was USD 1.04 million compared to USD 0.260502 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to USD 0.01 a year ago.
For the six months, revenue was USD 1.1 million compared to USD 1.2 million a year ago. Net loss was USD 0.033031 million compared to USD 0.312853 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.01 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. 
