Sector: Energy | Industry: Oil & Gas Exploration and Production |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 1530 Hilton Head Road, Suite 205 EL CAJON CA 92019 |
Tel: | N/A |
Website: | https://www.royl.com |
IR: | See website |
Key People | ||
Harry E. Hosmer Chairman of the Board | Stephen M. Hosmer President, Chief Financial Officer, Secretary | Johnny Jordan Chief Executive Officer |
Jonathan Gregory Vice Chairman of the Board | Donald H. Hosmer President '€“ Business Development |
Business Overview |
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. |
Financial Overview |
For the fiscal year ended 31 December 2017, Royale Energy Funds Inc revenues decreased 17% to $1M. Net loss decreased 41% to $2.4M. Revenues reflect Supervisory Fees and Other decrease of 33% to $453K. Lower net loss reflects Lease Impairment decrease of 86% to $290K (expense), Gain on Turnkey Drilling Programs increase from $460K to $1.5M (income), General and Administrative decrease of 23% to $2M (expense). |