Royale Energy updated on May 30 progress made on four wells in the Mississippian interval of the Permian Basin and said two more are in the process of being completed in Ector County, Texas.
The company is part of a joint development agreement with Ares Ltd. Royale said a fifth and sixth well are in the process of being drilled and completed on a 17,000 net acre project in Ector.
The fifth well, which began drilling in February, is expected to be reach production late in the second quarter of 2024. The well is currently in the early stages of flowing back completion fluids is currently producing over 700 bbl/d and 850,000 cf/d.