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FieldPoint Petroleum

Latest News

FieldPoint Petroleum Reports on Progress of New Well in Lea County, New Mexico-Most Recent Production 673 BOPD and 624 MCFPD

Thursday, January 19th, 2012 and is filed under Well Updates

FieldPoint Petroleum Corporation (NYSE/NYSE MKT: FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #1 in Lea County, New Mexico.

FieldPoint’s President and CEO, Ray Reaves stated, “We have now completed a full month of production from this well and consider the results to be outstanding. The operator has recently changed to a larger choke size, going from a 25 to a 48, and the well pressures and flow rates are holding nicely. On January 17th the oil production was 735 BOPD while natural gas was at a flow rate of 588 MCFPD. Yesterday, oil production was 673 BOPD and gas was up to 624 MCFPD. At this point we normally stop receiving daily production reports from the operator and consequently will not be reporting as frequently to you. We will, of course, watch this well with continued interest but we will begin to turn our attention more to the drilling of well #2 on this property and our other exploration and acquisition activities.” Read More

FieldPoint Petroleum Well in Lea County, New Mexico Hits New Production High-Most Recent Output At 758 BOPD

Thursday, January 12th, 2012 and is filed under Well Updates

FieldPoint Petroleum Corporation (NYSE/NYSE MKT: FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #1 in Lea County, New Mexico.

FieldPoint’s President and CEO, Ray Reaves stated, “We have been very pleased with the performance of this well since it came on line in late December. Our excitement was elevated when the operator reported that on January 9th the well production was up to 933 BOPD. The well is still operating with the original size choke and also on that day delivered a natural gas flow rate of 425 MCFPD.”

Mr. Reaves concluded by adding, “We still have no way of knowing when production from this well will begin to level off and stabilize. Needless to say, we are becoming more anxious to begin the drilling of well #2 on this property.” Read More

FieldPoint Petroleum Reports Continued Production Increase from New Well in Lea County, New Mexico

Thursday, January 5th, 2012 and is filed under Well Updates

FieldPoint Petroleum Corporation (NYSE/NYSE MKT: FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #1 in Lea County, New Mexico.

FieldPoint’s President and CEO, Ray Reaves stated, “This recently completed well continues to excite us with a steady increase in daily production. The last data that we provided was through December 28 when the well produced 668 BOPD and natural gas sales began at a flow rate of 429 MCFPD. We can now report that the well has reached an oil production rate of 751 BOPD, with natural gas flowing at a rate of 494 MCFPD.”

FieldPoint owns a 43.75% working interest, Cimarex Energy Co., the well operator, owns a 37.5% working interest, and other partners own the remaining 18.75% working interest. Read More

FieldPoint Petroleum Provides Production Update on Well in Lea County, NM

Thursday, December 29th, 2011 and is filed under Well Updates

FieldPoint Petroleum Corporation (NYSE/NYSE MKT: FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #1 in Lea County, New Mexico.

FieldPoint’s President and CEO, Ray Reaves stated, “We have promised to keep you informed as to the progress in production from this new well. The last data that we provided was through December 26. On December 27, the well produced 487 BOPD, and gas was still being vented. On December 28, the well produced 668 BOPD and natural gas sales began at a flow rate of 429 MCFPD. We did not anticipate giving updates this frequently, however production increases have been very dramatic thus far. We will of course continue to keep you informed as important events occur with this well and with any plans to drill a second well on this property. ” Read More

FieldPoint Petroleum Provides Production Update on Well in Lea County, NM

Tuesday, December 27th, 2011 and is filed under Well Updates

FieldPoint Petroleum Corporation (NYSE/NYSE MKT: FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #1 in Lea County, New Mexico.

FieldPoint’s President and CEO, Ray Reaves stated, “We recently reported that on December 17, 2011 the first oil production from this well began to hit the tanks. The most recent information provided to you was that on December 20, 2011 the well produced 446 barrels of oil during a 24 hour period, and was venting all gas. At that time we stated that, without certainty, the Company had reason to believe that the oil production could increase. I am pleased to report today that this well has shown a steady upward movement in production, and on December 24 it produced 578 barrels of oil. The choke size has been unchanged since our production report.” Read More

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