Royale Energy, Inc.: management transactions · United States · SEC (Form 4)

About Royale Energy, Inc.

Royale Energy, Inc. is a U.S. independent oil and natural gas company focused on the production and sale of hydrocarbons, the acquisition of oil and gas lease interests and proved reserves, exploratory and development drilling, and the sale of fractional working interests in wells it drills. The company is based in El Cajon, California, and its corporate history traces back to Royale Energy Funds, Inc., a California company formed in 1983. Royale was reorganized into a Delaware corporation in 2017 following a merger-led restructuring, which helped shape the company in its current form as a small independent upstream producer. In market terms, ROYL is a U.S.-listed energy name and is followed by investors looking for a highly leveraged exposure to oil and gas asset development; recent SEC filings indicate the company is trading on the U.S. over-the-counter market rather than as a mainstream NYSE/NASDAQ large cap, so investors should treat any exchange reference cautiously and verify the current quotation venue before trading. Operationally, Royale’s business model is centered on a compact portfolio of producing and non-producing assets, with wells and reserves located primarily in Texas — notably Mitchell County and Ector County — as well as in California’s Sacramento and San Joaquin Basins, and in Oklahoma. The company’s model combines direct production with targeted drilling activity and the syndication of fractional interests in wells to accredited investors. That structure allows Royale to share development economics while retaining operating upside, but it also means results are highly sensitive to commodity prices, production volumes, reserve revisions, drilling execution, and future plugging and abandonment liabilities. In practical terms, Royale is a niche upstream operator rather than a diversified integrated energy company. From a competitive perspective, Royale Energy occupies the small-cap end of the U.S. exploration and production universe. It does not compete on scale with major E&Ps; instead, it competes by sourcing smaller assets, participating in focused drilling programs, and seeking incremental cash flow from selective acquisitions. Recent disclosures point to continued portfolio activity in Texas, including the September 2025 acquisition of additional non-operated working interests in producing Barnett wells within the Pradera Fuego project, which management said would support additional annual cash flow. The company also reported ongoing losses in 2025 quarterly filings, underscoring that profitability remains dependent on commodity prices, asset performance, and disciplined capital allocation. For French-speaking investors in France, Belgium, and Switzerland, ROYL represents a speculative U.S. energy micro-cap with a classic high-risk/high-beta profile, where operational updates and SEC Form 4 insider transactions can be important signals to monitor.