FieldPoint Petroleum Updates Hedging Program
Monday, April 23rd, 2012 and is filed under Financial Updates
FieldPoint Petroleum Corporation (NYSE MKT: FPP) today announced the details of a hedging agreement that it has in place for the second half of 2012.
Ray Reaves, President and CEO for FieldPoint, said, “As we have previously stated, the Company is protecting itself during this period of fluctuating energy pricing by the use of costless collar hedging. The hedging agreement currently in place has a floor of $95 and a ceiling of $106.50. We have been able to secure a costless collar that will be effective from July 1 through December 31 of this year, having a floor of $95 and a ceiling of $110.30. As with our current agreement, we are hedging 200 barrels per day, believing that this gives us sufficient protection against dramatic price reductions while still allowing a windfall should prices increase significantly.” Read More