Wednesday, August 21st, 2013 and is filed under Well Updates
FieldPoint Petroleum Corporation (NYSE-MKT:FPP) today provided an update on the production from its most recently completed well in Lea County, New Mexico.
FieldPoint’s Executive Chairman, Roger Bryant, stated, “Our drilling partner, Cimarex Energy Co. (NYSE:XEC), has provided us with a progress report on our newest well, the East Lusk Federal 15 #3, in Lea County, New Mexico. For the dates August 14 through August 20, the well averaged producing oil at 730 Bopd and natural gas at 569 Mcfpd. Needless to say, we are very pleased with the way this well is performing at this point. As we have done in the past, we will provide periodic updates on this well as it goes through this early stage production.” Read More
Thursday, August 15th, 2013 and is filed under Well Updates
FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today provided information on initial production from its recently completed East Lusk Federal 15 #3 well in Lea County, New Mexico.
FieldPoint’s Executive Chairman, Roger D. Bryant, stated, “I am very pleased to report that, although we are still in the early stages of recovering the frac load from the East Lusk Federal 15 #3 well, our drilling partner Cimarex Energy Co. (XEC) reported that on September 13, the well tested at 789 Bopd. As we have done in the past, we will provide periodic updates on this well as it goes through this early stage cyclical production. We believe that this well could contribute significantly to this year’s production and beyond.” Read More
Wednesday, August 14th, 2013 and is filed under Financial Updates
FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today its second quarter financial results for the three and six months ended June 30, 2013.
Mr. Roger D. Bryant, FieldPoint Executive Chairman, stated, “Net income and earnings per share met our goals for this quarter, although they were significantly lower than the same period in 2012 due to commodity derivative gains in the prior year of $521,331. We believe that we will meet our objectives for this year, with a strong emphasis on increasing oil production. With our drilling partner, Cimarex Energy Co. (NYSE:XEC), we have completed our third oil and gas well in Lea County, New Mexico. We are in the early testing stage and expect to see the first production results soon. As with the existing two wells on this property, we will keep our shareholders informed of the progress of well #3. As previously stated, drilling a fourth well on this property could start soon. If successful, and if oil prices remain stable, this could have a very positive impact on future results. We plan to continue to explore new oil and gas acquisition opportunities in the form of oil and gas production and/or oil and gas drilling acreage, as well as other opportunities that could potentially increase shareholder value.” Read More