FieldPoint Petroleum well in Lea County, New Mexico hits new production high

Source: FieldPoint Petroleum Corporation

FieldPoint Petroleum Corporation (NYSE/AMEX: FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #1 in Lea County, New Mexico.

FieldPoint's President and CEO, Ray Reaves, stated, "We have been very pleased with the performance of this well since it came on line in late December. Our excitement was elevated when the operator reported that on January 9th the well production was up to 933 BOPD. The well is still operating with the original size choke and also on that day delivered a natural gas flow rate of 425 MCFPD."

Mr. Reaves concluded by adding, "We still have no way of knowing when production from this well will begin to level off and stabilize. Needless to say, we are becoming more anxious to begin the drilling of well #2 on this property."

As previously stated FieldPoint owns a 43.75% working interest in the East Lusk Federal well #1 and will own the same interest in well #2.

Sign up for PennEnergy's eNewsletters
For Email Newsletters you can trust

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs