Royale Energy reports Q3 earnings, revenue gains

Royale Energy (ROYL -0.7%) reports Q3 earnings of $0.04/share vs. prior-year loss and a single analyst estimate of breakeven, and revenues rose 465% Y/Y to $3.12M vs. single estimate of $2.34M.

ROYL says the results indicate a successful turnaround with reduced expenses and elimination of long-term debt, combined with increased production from new wells and prices at $4/Mcf.

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