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FieldPoint Petroleum

Latest News

FieldPoint Petroleum Reports on Ranger Project Well #2

Monday, April 14th, 2014 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today reported that drilling of the second well in the Ranger Project has been completed ahead of schedule and plans to complete the well are underway.

FieldPoint President, Phillip Roberson, stated, “We are pleased to announce the successful completion of the drilling phase of our second horizontal Taylor Serbin well, the Ranger 11A-1H. The well was drilled according to plan, with a total measured depth of approximately 9400’. We have run production casing and expect to frac and complete sometime around the end of the month, after electricity has been run and production facilities on the site are completed. We are very pleased with the shows and logs and would like to thank our partner, Riley Exploration Group, LLC, for their expertise in planning and drilling what we believe will be our second successful well in this field re-development.” Read More

FieldPoint Petroleum Announces Successful Completion of First Ranger Project Well

Monday, February 10th, 2014 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today announced the successful completion of the Ranger Unit 8A #1H in Lee County, Texas. This is the first well in the Ranger Project with FieldPoint’s partner, Riley Exploration Group, LLC (Riley) of Blanchard, OK.

FieldPoint President, Phillip Roberson, stated, “With less than 20% of the frac load recovered, we are very pleased with the well’s current performance of over 160 barrels of oil per day (BOPD). The volume is slowly and steadily increasing as we recover more of the load, and we anticipate that it might be as much as a few weeks before the well stabilizes and the Initial Production (IP) rate is determined. In the Taylor Sand formation, we expect lower IP’s than in formations like our Bone Spring wells in New Mexico, but we also expect a much lower decline rate. This is going to be a very good well, and a great start for the Ranger Project. We’re looking forward to spudding well #2 soon.” Read More

FieldPoint Petroleum Reports on First Horizontal Well of Ranger Project

Monday, January 6th, 2014 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today reported the drilling of the Ranger Unit 8A #1H with Riley Exploration Group of Blanchard, OK. Completion and fracking of the well is to begin this week.

FieldPoint President, Phillip Roberson, stated, “Although our Joint Exploration Agreement only became effective on January 1, 2014, and we are both still finishing our final due diligence and title work, our partner drilled this well in December and has invited us to participate under the terms of the agreement. We have elected to participate, and will have a 25% working interest in this well, as with all wells drilled under this agreement. We appreciate that Riley has chosen to use this well as an early launch of our joint drilling program, which is being referred to as the Ranger Project.” Read More

FieldPoint Petroleum Reports Status of Drilling Program in Lea County, NM

Monday, October 14th, 2013 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today that it has been informed by its drilling partner, Cimarex Energy Co. (XEC), that preparations have been completed to file the application to permit the drilling of a fourth well in the East Lusk Federal Section 15 of Lea County New Mexico. Both companies are anxious for the Bureau of Land Management to re-open so this process can be completed.

FieldPoint’s Executive Chairman, Roger Bryant, stated, “We have been very pleased with the results of our three existing wells on this property, all drilled with Cimarex as our drilling partner. We are hopeful that the government shut-down will end soon so that drilling can begin. There is still time to drill this well before year end if the roadblocks are removed. Read More

FieldPoint Petroleum Reports on Progress of Well #3 in Lea County, NM

Monday, July 29th, 2013 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today that the Company and its drilling partner Cimarex Energy Co., www.cimarex.com, have elected to complete the East Lusk Federal 15 well #3 in the Bone Spring Formation and plan to frac the well beginning today.

FieldPoint’s Chairman, Roger Bryant, stated, “FieldPoint has signed a casing point election to proceed with the completion of our third well on the East Lusk 15 Federal property. We expect that it will take two or three days to complete the fracture stimulation. We have been very pleased with the success of our first two horizontal wells on this property, and with our drilling partner, Cimarex. As in the past we will attempt to keep our shareholders up to date as progress is made with the completion of this new well.” Read More

FieldPoint Petroleum Begins Drilling Third Horizontal Well Project in Lea County, NM

Tuesday, June 25th, 2013 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/AMEX: FPP) announced today that drilling is well underway on the East Lusk 15 Federal #3 in Lea County, New Mexico. The Company has an operating agreement with Cimarex Energy Co, (NYSE: XEC) www.cimarex.com, to drill this well that will target the Bone Spring formation.

As with the Company’s two other wells on this property, this horizontal well is planned to be drilled vertically to a depth of approximately 9,500 feet, to the Bone Spring formation, and approximately 4,000 to 5,000 feet laterally within the formation to the bottom hole location. Drilling has currently passed 4,500 feet in the vertical portion. Read More

FieldPoint Petroleum and Industry Partners Begin Drilling in Goliad County, Texas

Monday, May 13th, 2013 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT: FPP) announced today that, with its industry partners, drilling has begun on the Irby #1 vertical Wilcox test well that will be drilled to a depth of approximately 8,900 feet to the prospective reservoir. If successful, the well should be drilled and completed within the next 60 to 90 days and FPP will own a 10% working interest in the well.

FPP also announced that it has signed an operating agreement with Cimarex Energy Co, to drill a third horizontal well that will target the Bone Spring formation on its East Lusk Federal Section 15 property located in Lea County, New Mexico. If successful, there is the possibility of drilling a fourth well on this property by the end of the year. Total cost for each well will be approximately $7,000,000. Read More

FieldPoint Petroleum Provides Update

Thursday, January 10th, 2013 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today that the Company and its partners plan to drill their third well in the East Lusk Section 15 in Lea County New Mexico. Drilling is expected to begin within approximately six months .

FieldPoint’s President and CEO, Ray Reaves, stated, “We are very pleased with the results to date of our two existing wells on this property, both drilled with Cimarex (NYSE:XEC) as our drilling partner. As with those two wells, FieldPoint will own a 43.75% working interest, Cimarex will own 37.5%, and other partners will own the remaining 18.75% working interest in well #3.” Read More

FieldPoint Petroleum Reports on Progress of Well #2 in Lea County, NM

Thursday, August 23rd, 2012 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today that the Company and its drilling partner Cimarex Energy Co., www.cimarex.com, have elected to complete the East Lusk Federal 15 well #2 in the Bone Spring Formation and plan to frac the well within approximately 10 days.

FieldPoint’s President and CEO, Ray Reaves, stated, “On August 20, 2012 the Company signed a casing point election to proceed with the completion of our second well in the East Lusk 15 Federal property. We expect that it will take two or three days to complete the fracture stimulation.”

As previously disclosed, the #1 well on this lease has been shut-in because of the DCP midstream gas sales pipeline curtailment. Recently received news leads us to anticipate that the repairs to the pipeline could be complete within approximately one week and production will resume. Read More

FieldPoint Petroleum Begins Drilling Second Horizontal Well Project in Lea County, NM

Monday, July 16th, 2012 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT: FPP) announced today that drilling has begun on the East Lusk 15 Federal #2 in Lea County, New Mexico. The Company has an operating agreement with Cimarex Energy Co, (NYSE: XEC) www.cimarex.com, to drill this well that will target the Bone Spring formation. FieldPoint has pre-paid its expected share of the drilling cost, which is approximately $1.3 million. There will, of course, be additional completion costs should the drilling operation be successful.

As with the Company’s well #1 on this property, this horizontal well is planned to be drilled vertically to a depth of approximately 9,500 feet, to the Bone Spring formation, and approximately 4,000 to 5,000 feet laterally within the formation to the bottom hole location. The estimated time for drilling and completion is expected to be approximately 60 to 90 days. Read More

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