Royale Energy, Inc.

Royale Energy, Inc. is an independent oil and natural gas producer incorporated in Delaware in 2017. The company's main activities include producing and selling oil and natural gas, acquiring oil and gas lease interests and proved reserves, drilling exploratory and development wells, and selling fractional working interests in wells it plans to drill. Royale is the successor by merger to Royale Energy Funds, Inc., a California corporation formed in 1983. As of December 31, 2024, Royale and its consolidated subsidiaries had 11 full-time employees. Royale and its subsidiaries hold wells, leases, and proved and non-proved oil and gas reserves primarily in Mitchell County and Ector County, Texas, and in the Sacramento Basin and San Joaquin Basin in California, as well as in Oklahoma. The company also owns an overriding royalty interest in a discovery in Alaska. Royale typically sells a portion of the working interest in each well it drills or participates in, retaining a portion for its own account. This strategy helps reduce drilling risk and diversifies its property inventory with less of its own funds invested per prospect. Royale generally sells working interests to accredited investors in multi-well investment bundles, which are exempt from federal and state securities registration. During its fiscal year ended December 31, 2024, Royale focused on exploring and developing oil and natural gas properties in Texas. In 2024, Royale participated in drilling four gross (0.0722 net) wells, all of which were commercially productive.