Royale Energy acquires additional non-operated working interests in seven Barnett wells in the Pradera Fuego project.
The acquisition strengthens Royale's financial position and supports its production expansion strategy.
Royale Energy negotiating to obtain drilling rights for more working interests in the acreage.
Acquisition Details
Royale holds a 7.5% non-operated working interest in seven Barnett wells and a 5% working interest in the associated acreage.
Cash Flow Impact
Expected additional annual cash flow of approximately $715,000 in the first 12 months from the acquired producing interests.
Growth Potential
The Pradera Fuego project offers 39 Barnett drilling locations and 44 future Woodford locations for long-term growth.
- The acquisition secures immediate production gains for Royale Energy.
- Negotiating more working interests positions Royale for growth in high-value drilling locations in the Permian Basin project.
The acquisition of additional working interests in the Barnett and Woodford locations presents a significant growth opportunity for Royale Energy, strengthening its position in the Permian Basin project.