NSAI Issues Report On Company's North Slope Shale Oil

SAN DIEGO, Aug. 21, 2013 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL) today, in cooperation with Rampart Energy, is pleased to announce the results of a study performed by Netherland, Sewell & Associates, Inc. Worldwide Petroleum Consultants, (NSAI), www.netherlandsewell.com , to evaluate the prospective resources in their shale acreage on the North Slope of Alaska. Using available data from existing wellbore penetrations and analog shale plays, they determined that the acreage is a qualified Prospective Resource with an average recovery rate of 3,995 barrels of oil per acre from the combined shale intervals.

Based upon estimated drilling density of 160 acres per well, this equates to 639,119 barrels of oil per well drilled. Total Original Oil in Place and Total Recovery per acre is divided between the three intervals as follows:
  OOIP Total (BBL/acre) EUR Total (BBL/acre)
  Low Best High Mean Low Best High Mean
 HRZ  2,723  13,255  35,174  16,635  123  578  1,775  809
 Kingak  6,631  37,383  96,748  45,091  263  1,459  4,661  2,120
 Shublik  4,934  16,327  35,298  18,747  246  899  2,037  1,066
 Total  14,288  66,965  167,220  80,473  632  2,936  8,473  3,995

The report covers 96,882 acres including 39,539 acres that the companies have agreed to jointly develop (Western Block), 17,139 acres owned by Royale (Central Block) in which Rampart has future rights to acquire, and 40,204 acres (Eastern Block) owned exclusively by Royale. The table below represents the total Estimated Ultimate Recovery (EUR) from the combined acreage:
  EUR Total (MBBL)
Area Gross Acres Low Best High Mean
West 39,539 24,998 116,091 335,031 157,938
Central 17,139 10,836 50,322 145,226 68,462
East 40,204 25,418 118,044 340,665 160,595
Sub Total: 96,882 61,252 284,457 820,922 386,995

Preparation for a seismic survey has already begun with the field work on an archeological survey of the area. Final engagement of the contractor is expected imminently, and data is expected to be available by the second quarter of 2014.

If you liked this article you might like

Why Royale Energy (ROYL) Stock Is Spiking Today

Why Royale Energy (ROYL) Stock Is Surging Today

Royale Energy Inc. Stock Downgraded (ROYL)

Royale Energy Rises On Unusually High Volume (ROYL)

Royale Energy Rises On Unusually High Volume (ROYL)