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FieldPoint Petroleum

Latest News

FieldPoint Petroleum Reports Status of Drilling Program in Lea County, NM

Monday, October 14th, 2013 and is filed under Drilling Announcements

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today that it has been informed by its drilling partner, Cimarex Energy Co. (XEC), that preparations have been completed to file the application to permit the drilling of a fourth well in the East Lusk Federal Section 15 of Lea County New Mexico. Both companies are anxious for the Bureau of Land Management to re-open so this process can be completed.

FieldPoint’s Executive Chairman, Roger Bryant, stated, “We have been very pleased with the results of our three existing wells on this property, all drilled with Cimarex as our drilling partner. We are hopeful that the government shut-down will end soon so that drilling can begin. There is still time to drill this well before year end if the roadblocks are removed. Read More

FieldPoint Petroleum Provides Hedging Details

Wednesday, October 2nd, 2013 and is filed under Financial Updates

FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today details of a hedging agreement that it has in place for the next six months.

Roger Bryant, Executive Chairman for FieldPoint, stated “The board of directors has decided that it would be wise to protect cash flow by hedging, and we have put in place a costless collar with an $87.00 floor and $108.00 ceiling. This will be in effect from October 1, 2013 to March 31, 2014. The Company decided to hedge 200 barrels of oil per day, believing that this would give us sufficient protection should dramatic price reductions occur, even though this represents only about half of our current daily production.” Read More