Royale expands position in Permian Basin

Royale Energy acquired additional non-operated working interests in seven producing Barnett wells within the 17,000-acre Pradera Fuego project, operated by Ares Energy in Ector County, Texas. With this acquisition, Royale and its outside investors now hold a 7.5% non-operated working interest across seven producing horizontal Barnett wells, and a 5% working interest in the associated acreage.

Royale is currently negotiating a farm-out agreement to obtain the drilling rights to an additional 2.5% working interest on the acreage.

The Pradera Fuego asset includs 39 future Barnett drilling locations and 44 future Woodford locations.