The company has engaged Halliburton's Project Management teams to advise on the planning, development, and execution of the project—including well plan and design, drilling plans, service coordination, and well site supervision. Operations are scheduled to begin in June 2007.
"Royale is excited to enter a new phase of growth in the development on this property," said Stephen Hosmer, CFO, Royale Energy, Inc. "Following the discovery we made in the Moon Canyon #2 well and the recent completion of a third-party pipeline, Royale believes that the time is right to accelerate development. We believe that Halliburton has the regional expertise and track record to manage the entire project efficiently and effectively."
Headquartered in San Diego, Royale Energy, Inc. is an independent energy company. The company is focused on development, acquisition, exploration, and production of natural gas and oil in California, Texas and the Rocky Mountains. It has been a leading independent producer of oil and natural gas for over 20 years. The company's strength is continually reaffirmed by investors who participate in funding over 50% of the company's new projects.
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