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FieldPoint Petroleum

Latest News

FIELDPOINT PETROLEUM REPORTS RESULTS FOR FIRST QUARTER 2018

Thursday, May 17th, 2018 and is filed under Financial Updates

AUSTIN, TX – May 15, 2018 FieldPoint Petroleum Corporation (OTCBB: FPPP) today announced financial results for its first fiscal quarter ended March 31, 2018. 

 

Phillip Roberson, President and CFO, said, “After this long period of depressed commodity pricing, we are finally seeing some relief. Pricing toward the end of our first quarter reached a manageable level, and if this recovery is sustainable, we expect to be able to further reduce our debt and return to our plan of growth for the company in the near term. Again, we want to express appreciation to all our shareholders who have supported us during this difficult time.”

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FIELDPOINT PETROLEUM REPORTS RESULTS FOR FISCAL YEAR 2017

Monday, April 2nd, 2018 and is filed under Financial Updates, Management Updates

AUSTIN, TX – April 2, 2018 FieldPoint Petroleum Corporation (OTC: FPPP) today announced financial results for the fiscal year ended December 31, 2017. 

 Phillip Roberson, President and CFO, said, “The past three years have been challenging for the oil and gas industry, but 2017 brought signs of recovery. Our revenues increased toward years end, but more importantly, market improvement made it possible for us to divest some non-producing assets and pay down a significant portion of our debt. This also made it possible for us to show a net income of $2,666,253 in 2017 versus a net loss of $2,473,147 in the prior year. During 2017, we received excellent support from the New York Stock Exchange, but unfortunately, we were unable to maintain the required net asset base and began trading on the OTC Bulletin Board Market (OTCBB: FPPP). Also, during the year, our banking partner, Citibank N.A., entered into a forbearance agreement with us, which has been extended until June 2018.”

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FieldPoint Petroleum Announces Amendment To Loan And Forbearance Agreement

Monday, January 8th, 2018 and is filed under Uncategorized

January 8, 2018

AUSTIN, Texas, Jan. 8, 2018 /PRNewswire/ — FieldPoint Petroleum Corporation (OTC:FPPP) today announced a seventh Amendment to its Loan Agreement with Citibank, which includes a first amendment to the Forbearance Agreement. The terms and conditions of the Forbearance Agreement may be seen in a Form 8-K filed today with the Securities and Exchange Commission. Read More

FIELDPOINT PETROLEUM TO BE SUSPENDED PENDING DELISTING FROM NYSE AMERICAN

Wednesday, November 29th, 2017 and is filed under Uncategorized

AUSTIN, TX – November 22, 2017– FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced

today that the NYSE American (“NYSE”) will suspend trading of the Company’s Common Stock and Warrants (expiring March 23, 2018) (the “Securities”) ticker symbols FPP and FPP WS effective November 27, 2017.  The NYSE had previously announced on November 16, 2017 that it had commenced delisting procedures with respect to the Company.  The Company has not requested a review of this determination by a Committee of the Board of Directors of NYSE American.  Following suspension, the NYSE will apply to the Securities and Exchange Commission to delist the Company’s Securities.

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FIELDPOINT PETROLEUM ANNOUNCES SALE OF ASSETS IN OKLAHOMA

Tuesday, October 10th, 2017 and is filed under Financial Updates, Management Updates

AUSTIN, TX – October 10, 2017– FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced that it has completed the sale it’s 25.23% working interest in a waterflood project consisting of 23 producing and 9 injection wells in the Apache field in Caddo County Oklahoma to a private Exploration & Production company. The total sales price for the asset was $900,000. Although the sale included some production, the fixed operating costs were extremely high due to the nature of the project.  The divestiture won’t have a significant effect on cash flow, but will result in a net gain of approximately $729,000 and increases net equity to help us regain compliance with the NYSE American (formerly NYSE MKT). Read More

FIELDPOINT PETROLEUM REPORTS RESULTS FOR SECOND QUARTER 2017

Monday, August 21st, 2017 and is filed under Financial Updates

AUSTIN, TX –August 14, 2017– FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today announced financial results for the second quarter ended June 30, 2017.

 

Phillip Roberson, President and CFO, said, “I am pleased to report this significant progress toward regaining full compliance with both our lender and the New York Stock Exchange listing requirements. This is due in great part to the previously announced sale of non-core assets in New Mexico, but also aided by our improved operating performance. We plan to continue with the current strategy, and expect to meet our objectives by early November.”

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FieldPoint Petroleum Announces Additional Sale Of Assets In New Mexico

Thursday, July 27th, 2017 and is filed under Financial Updates

AUSTIN, TexasJuly 20, 2017 /PRNewswire/ — FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced that it has completed the sale of 401 net acres in Lea County, New Mexico, held by multiple East Lusk 15 Federal Com wells (“East Lusk Wells”) and the Jennings Federal Com No. 1 well (“Jennings Well”), to a private E&P company. FieldPoint will retain its 43.75% net working interest in the East Lusk Wells and its 87.50% net working interest in the Jennings Well. Total sales price for the asset was $1,200,000.

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FIELDPOINT PETROLEUM ANNOUNCES SALE OF NON-CORE ASSETS IN NEW MEXICO

Tuesday, June 6th, 2017 and is filed under Financial Updates, Management Updates

AUSTIN, TX – June 5, 2017– FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced that it has completed the sale of 240 net acres in Lea County, New Mexico, held by the North Bilbrey “7” Federal No. 1, to a private E&P company. FieldPoint will retain its 50% net working interest in the only producing well bore on the lease. Additionally, the Company sold all net rights in the Cronos Fee, Mercury Fee, and Hermes Fee natural gas wells and leases in Eddy County, New Mexico, with combined net production of approximately 3.2 MCFE per day. Total sales price for both assets was $2,145,000.

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FIELDPOINT PETROLEUM REPORTS RESULTS FOR FISCAL YEAR 2016

Thursday, April 6th, 2017 and is filed under Uncategorized

 FieldPoint Petroleum REPORTS

RESULTS FOR FISCAL YEAR 2016

 

AUSTIN, TX – March 31, 2017 FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today announced financial results for the fiscal year ended December 31, 2016. 

 

Phillip Roberson, President and CFO, said, “This past year was a challenge for the oil and gas industry worldwide. Our revenues continued to decline, and we were unable to hedge against the drop in commodity prices. Fortunately, we were not faced with a huge impairment charge as in the year before, but we did incur a GAAP loss of $2,473,147. During 2016, we received excellent support from the New York Stock Exchange, which accepted our plan of recovery to maintain our listing. We have until November of this year to complete that plan as long as we show progress toward this goal. Consequently, we continue to evaluate possible business combinations and equity infusions that will contribute to our reaching this goal. Also during the year, our banking partner, Citibank N.A., entered into a forbearance agreement with us which gives us until January 2018 to regain compliance with the covenants of our loan agreement.”

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FieldPoint Petroleum REPORTS RESULTS FOR THIRD quarter 2016

Thursday, November 17th, 2016 and is filed under Uncategorized

AUSTIN, TX – November 14, 2016– FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today announced financial results for the third quarter, ended September 30, 2016.

 

Phillip Roberson, President and CFO, said, “Although our financial performance continues to be impeded by low commodity pricing, the past few months have been significant for the Company. As previously mentioned, the NYSE MKT accepted our plan to regain compliance with its listing standards, we completed a forbearance agreement with CitiBank, and we completed the first tranche of a private placement to secure additional working capital. We continue to pursue all forms of expansion opportunities that will strengthen our financial position, and at this point we are becoming very optimistic about our future. I would also like to thank our shareholders for their vote of confidence shown by approving all proposals set forth at our recent annual meeting.”

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