Royale Energy Funds Inc (OTC: ROYL) is an oil and gas exploration and production company that drills and operates oil and natural gas wells primarily in Texas and California. Revenue comes from the sale of produced oil and natural gas at prevailing commodity prices. The company operates as a small, non-operated working interest participant, taking fractional net interests in wells drilled by other operators. As of December 31, 2024, total proved reserves stood at 238,740 MBBL of oil and 392,770 MMCF of natural gas, with a PV-10 of $4,394,986. Net production in FY2024 was 26,573 barrels of oil at an average price of $72.83 per barrel and 116,406 MCF of natural gas at an average price of $1.94 per MCF. Lifting costs were $7.19 per MCFE in FY2024. The company carries a stockholders' deficit on its balance sheet and has an accumulated deficit as of December 31, 2024. CEO Johnny Jordan has led the company since January 2019. Royale Energy is incorporated in Delaware and is headquartered in the United States.

Revenue model

Transactional revenue from the sale of produced crude oil and natural gas at spot commodity prices. No disclosed subscription, royalty licensing, or service revenue streams.

Products and services

Crude oil production; natural gas production; working interest participation in oil and gas drilling programs in Texas and California.

Customers and end markets

Commodity oil and gas markets. No specific customers or customer concentration data disclosed in the filing excerpts.

Value-chain role

Upstream oil and gas producer. Holds working interests in producing and undeveloped wells. Participated in drilling four gross (0.0722 net) oil wells in Texas in FY2024, all of which were productive.

Geographic exposure

Primary operations in Mitchell County and Ector County, Texas. Legacy properties in the Sacramento Basin and San Joaquin Basin of Northern and Central California. Texas holds the majority of proved developed and undeveloped reserves as of December 31, 2024.

Source: SEC 10-K, filed 2025-04-09

Industry: Crude Petroleum & Natural Gas Peers: AMERICAN NOBLE GAS, INC. New Concept Energy Inc ConocoPhillips ReoStar Energy Corp GULFSLOPE ENERGY, INC.