Royale Energy Inc. is pursuing joint ventures that will support its drilling operations in California, Texas, Alaska, Louisiana and Oklahoma, the company said March 15.
The company is also completing a well in California’s Sacramento Basin, and it plans to drill five wells in 2016.
During the fourth quarter of 2015, the company’s operating profit was higher than third-quarter 2014’s-- $70,736 compared with $21,372.
Quarterly operating income was also higher—it was about $1.87 million at fourth-quarter 2015, compared to the fourth-quarter 2014 operating loss of about $1.8 million.
By selling certain noncore operational assets, decreasing expenses and increasing turnkey operations, overall operations improved during fourth-quarter 2015.
Royale Energy Inc. is based in El Cajon, Calif.
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