Royale Energy, Inc. moved a completion rig from the Andrus Island #1 well on Andrus Island in California's Sacramento basin over to Royale's Tyler #1 well.
After producing a total of approximately 300,000 MCF of gas from its lower formations, the Tyler #1 was completed in a shallower formation. Upon testing, the well stabilized with a flowing tubing pressure of 1215 lbs producing 674,000 cubic ft. (674 MCF) of natural gas per day. The well will be put on line next week at a starting rate of 375,000 cubic ft. per day.
Natural gas futures hit a 15 month high for next month deliveries. Royale Energy is unhedged and selling its production for $8.30MCF.
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