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FieldPoint Petroleum

Latest News

FieldPoint Petroleum Reports Most Recent Production of Well #2 in Lea County, New Mexico at 827 BOPD

Wednesday, September 19th, 2012 and is filed under Well Updates

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #2 in Lea County, New Mexico.

FieldPoint’s President and CEO, Ray Reaves stated, “The last data we provided on this well was through September 12. From September 13 through September 17, well production in BOPD was 705, 914, 664, 795, and 827 respectively, and we continue to sell between 360 to 500 mcf per day. We will, of course, continue to watch this well with continued interest but we hope that soon we can turn our attention more to the drilling of well #3 on this property and our other exploration and acquisition activities.” Read More

FieldPoint Petroleum Provides Production Update on Well #2 in Lea County, New Mexico

Friday, September 14th, 2012 and is filed under Well Updates

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #2 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 September 10. On September 11, the well produced 436 BOPD. On September 12, the well produced 692 BOPD, and gas was still being sold. We will of course continue to keep you informed as important events occur with this well and with any plans to drill a third well on this property. ” Read More

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

Friday, August 31st, 2012 and is filed under Well Updates

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today that the Company and its drilling partner Cimarex Energy Co., www.cimarex.com, have completed the multi-stage fracture stimulation on the East Lusk Federal 15 well #2 in the Bone Spring Formation and plan to flow back the well within approximately one week.

Ray Reaves, President and CEO of FieldPoint stated, “We are pleased to be able to announce the excellent progress that has been made on the drilling of our second well on this property. We are especially pleased to add that operation of the DCP MidStream Pipeline has resumed following a curtailment for repair that began in late June. Timing for this is very fortunate as we prepare for the completion of well #2. As in the past, we will attempt to keep our shareholders up to date as progress is made in this exploration activity.” 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

FieldPoint Petroleum to Begin Drilling Second Well in Lea County, NM

Monday, June 25th, 2012 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/AMEX: FPP) announced today that drilling is expected to begin on the East Lusk 15 Federal #2 well in Lea County, New Mexico in July. The Company has an operating agreement with Cimarex Energy Co, (NYSE: XEC) www.cimarex.com, to drill this well that targets the Bone Spring formation. The total cost for this well is expected to be approximately $7,000,000, with net cost to FieldPoint of approximately $3,100,000.

This horizontal well is planned to be drilled in a similar manner to the Company’s well #1 on this property, which was to drill 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

FieldPoint Petroleum Announces Additional Drilling Plans for Lea County, NM

Wednesday, February 15th, 2012 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/NYSE MKT: FPP) today reported on its plans for additional drilling in the East Lusk Federal 15 field in Lea County, New Mexico.

FieldPoint’s President and CEO, Ray Reaves stated, “We continue to be very satisfied with the performance of our first well on this property, and are pleased to report that the permit has been filed for well #2. Due to restrictions during the nesting season of a native bird, the “Lesser Prairie Chicken”, drilling cannot be started before late June. After further evaluation of this property, and our success to date, serious consideration is being given to the drilling of a third well. This may be influenced by the results of well #2, but will not be totally dependent on them.” Read More

FieldPoint Petroleum Reports on Well Production

Wednesday, February 1st, 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, “After more than a month since its completion, production from this new well appears to be stabilizing in the range of 600 BOPD for oil and 600 MCFPD for natural gas. Needless to say, we are very pleased with these numbers and hope to see the well continue to perform. The latest production report from yesterday showed 567 BOPD for oil and 804 MCFPD for natural gas. In the future we plan to only report on this well when noteworthy occurrences take place. We will, however, report regularly on the progress made in this field as we move toward the drilling of well #2.” Read More

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

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