Atlanta, GA – Scibility Media – 10/16/2014
This article discusses two oil and natural gas companies: Royale Energy, Inc.(NASDAQ:ROYL) and Chesapeake Granite Wash Trust(NYSE:CHKR)
Royale Energy, Inc.(NASDAQ:ROYL) saw its value fall to a new 52 week low of $2.225 during yesterday’s trading. The California-based independent oil and gas producer acquires oil and natural gas lease interests, drills exploratory and development and sells fractional working interests in to-be-drilled wells. Although Royale Energy mostly operates in California, the company also owns wells and leases in Utah, Texas, Oklahoma, Louisiana, and Alaska.
On Sept. 26th, the company announced that its McKinney well in California’s Sacramento had been drilled to a total depth of 7,000 feet. Additionally, Royale Energy stated in the press release that substantial reserves could be contained in potential intervals at the site.
The Chesapeake Granite Wash Trust(NYSE:CHKR) is another company that also fell to a new 52 week low during yesterday’s trading as the stock declined to a mark of $8.52. The Texas-based company owns royalty interests in several natural gas and oil properties in the Anadarko Basin of western Oklahoma. Chesapeake Granite Wash Trust holds interests in a total o 69 horizontal producing wells and 118 horizontal development wells.
The company is expected to release its earnings report early in November. Currently, the company has a bid price of $8.98 x 100 and an offer price of $9.40 x 1,600. These prices, combined with the company’s spiking trading volume, suggest that Chesapeake Granite Wash Trust’s value could soon fluctuate. That being said, the company’s price is at a comparatively low price.
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