FIELDPOINT PETROLEUM REPORTS FIRST QUARTER RESULTS AND PROVIDES UPDATE ON HEDGING ACTIVITY
Friday, May 15th, 2015 and is filed under Financial Updates
AUSTIN, TX – May 14, 2015 – FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today announced financial results for the first quarter ended March 31, 2015, and also provided an update on the Company’s hedging activity.
Phillip Roberson, President and CFO, said, “It was a very challenging quarter as we experienced a decline of more than one half in commodity pricing on a barrel of oil equivalent basis compared to the same quarter last year. We were encouraged that prices were beginning to recover at the end of the quarter. That trend appears to be continuing and we have recently been able to obtain an acceptable hedge on some of our production through the end of the year. More on that hedge is discussed below.”