FieldPoint owns a working interest in 480 gross wells, of which we currently operate 19. Non-operated wells are operated by independent contractors under standard industry contracts. With non-operated wells, we have a long history with experienced and efficient operators, such as Halcón, Apache, Cimarex, Denbury, Quantum and Linn, to name a few.
With operated wells, our portfolio includes mainly low-touch, “pumper and electricity-only” wells in the Devonian, Ellenberger and Morrow areas of West Texas and New Mexico. Higher maintenance fields are closer to home, such as the Taylor Serbin field near Giddings, Texas.
As operator, we maintain more responsibility and authority; we believe this puts us in a better position to control cost, safety, and work timelines, as well as other critical factors affecting well economics. As such, our current growth plan includes acquiring additional properties where we act as operator. However, we will still continue to consider opportunities under the management of competent operators, particularly those with which we have a record of good performance.