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
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
Tuesday, August 14th, 2012 and is filed under Financial Updates
FieldPoint Petroleum Corporation (NYSE/NYSE MKT: FPP) announced today its second quarter financial results for the three and six months ended June 30, 2012.
Ray Reaves, President and CEO of FieldPoint stated, “During this past quarter our oil and natural gas revenue increased 12% over the same period last year primarily as a result of higher production offset somewhat by lower oil and natural gas prices. Net income and earnings per share met our goals for this quarter and we believe that we will meet our objectives for the year, with a strong emphasis on increasing oil production. As previously stated, we are drilling our second oil and gas well in Lea County, New Mexico that will focus on oil production. If successful, and if oil prices remain stable, this could have a very positive impact on future results. We will continue to explore new oil and gas acquisition opportunities in the form of oil and gas production and/or oil and gas drilling acreage.” Read More