Profile: FieldPoint Petroleum Corp (FPP)

FPP on American Stock Exchange

1.96USD
24 Dec 2014
Price Change (% chg)

$-0.06 (-3.06%)
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$1.96
Open
$1.95
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Volume
35,960
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18,564
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$5.86
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$1.68

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FieldPoint Petroleum Corporation, incorporated on March 11, 1980, is engaged in the acquisition, operation and development of oil and natural gas properties, which are located in Louisiana, New Mexico, Oklahoma, South Central Texas and Wyoming. As of December 31, 2013, the Company had varying ownership interest in 360 gross wells (100.71 net) located in five states. The Company operates 65 of the 360 wells; the other wells are operated by independent operators under contracts that are standard in the industry. Its Block A-49 and Block 6 Field, Andrews County is a producing oil field located in Andrews, Texas. The Company owns a 74%-100% working interest in five producing oil wells and three injection wells producing out of the Devonian and Ellenburger formations at an approximate depth of 7,000 to 9,000 feet.

The Company’s Spraberry Trend, Midland County is a producing oil and natural gas field located 6 miles east of Midland, Texas. The Company owns a 6% to 15% working interest in five oil and natural gas wells producing out of the Spraberry formation at a depth of approximately 7,000 feet. Its Flying M Field, Lea County is a producing oil and natural gas field located outside of Hobbs, New Mexico. The Company owns a 39.25% working interest in two oil and natural gas wells producing out of the ABO formation at a depth of approximately 8,300 feet. Its Sulimar Field, Chaves County is a producing oil field located 35 miles north east of Artesia, New Mexico. The Company has a 100% working interest in one oil well producing out of the Queen formation at a depth of approximately 1,800 feet. Apache Field, Caddo County is a waterflood project producing from the Viola/Bromide formation. The Apache Bromide Unit is located approximately five miles west of the town of Apache and 25 miles north of Lawton, Oklahoma. The Company has a 25.23% working interest in the unit which consists of 11 producing oil wells and nine water injection wells. The Longwood Field, Caddo Parish is a producing natural gas field located north of Greenwood, Louisiana. The Company owns a 12.22% working interest in two natural gas wells producing out of the Cotton Valley formation at a depth of approximately 7,800 feet.

The Lusk Field, Lea County is a producing oil and natural gas field located outside of Hobbs, New Mexico. The Company owns an 87.5%-100% working interest in two oil and natural gas wells producing out of the Bonespring and Yates formations in section 15 at depth ranging from approximately 3,400 feet to approximately 10,000 feet and a 43.75% working interest in three wells drilled and producing out of the Bonespring formation. The Company also owns an 87.5% working interest in one water disposal well. The Loving North Morrow Field, Eddy County is a producing natural gas field located two miles west of Loving, New Mexico and 12 miles south east of Carlsbad, New Mexico. The Company owns a 4.3% - 12% working interest in three natural gas wells producing out of the Morrow formation from a depth of approximately 12,300 feet to 12,450 feet. The Chickasha Field, Grady County, Oklahoma is a waterflood project producing from the Medrano Sand. The Rush Springs Medrano Unit is located approximately 65 miles southwest of Oklahoma City, Oklahoma. The Company has a 20.64% working interest in the unit which consists of 21 producing oil and natural gas wells and 11 water injection wells.

West Allen Field, Pontotoc County is producing oil and natural gas field located approximately 100 miles south of Oklahoma City, Oklahoma. The Company has a working interest in 52 leases or a total of 224 wells, the leases have multiple wellbores and the Company has plans to participate in the future recompletion of behind pipe zones. Giddings Field, Fayette County is in the Austin Chalk field located in various counties surrounding the city of Giddings, Texas. Big Muddy Field, Converse County is a producing oilfield located approximately 30 miles south of Casper, Wyoming. The Company owns a 100% working interest in the Elkhorn and J.C. Kinney lease, which consists of three oil wells producing out of the Wallcreek and Dakota formations at depths ranging from approximately 3,200 feet to approximately 4,000 feet. Serbin Field, Lee and Bastrop Counties Texas is an oil and natural gas field located approximately 50 miles east of Austin and 100 miles west of Houston. The Company has a working interest in 50 producing oil and natural gas wells. Oil and natural gas are produced from the Taylor Sand at depths ranging from approximately 5,300 feet to approximately 5,600 feet; it is a 46-gravity oil sand.

Company Address

FieldPoint Petroleum Corp

SUITE 335, 609 CASTLE ROAD
AUSTIN   TX   78746
P: +1512.2508692
F: +1512.3351294

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