By OGJ editors
HOUSTON, Mar. 22 -- Royale Energy Inc., San Diego, plans to begin work by the end of May to further develop Rio Bravo field west of Bakersfield in Kern County, Calif.
Royale signed a letter agreement with Matris Exploration Co. LP to acquire 50% of Matris's interest in the field and fund future development. Royale will target the shallow, unconventional Monterey shale and more-conventional deeper reservoirs.
The first project is to complete the Weber 27-27 well in Monterey shale, source rock for the San Joaquin basin. The vertical well had good oil and gas shows in several intervals before being drilled horizontally in the deepest of the show zones.
Texas Crude, EOG Resources, and Chevron have produced more than 7 million bbl of light, sweet oil from Monterey shale in North Shafter field, the closest analog to Rio Bravo, Royale said.
