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FieldPoint Petroleum and Partner Cimarex Complete Well in New Mexico; Plans to Drill Second Well

FieldPoint Petroleum Corporation (NYSE: FPP) announced today that the Company and its drilling partner Cimarex Energy Co. have completed the East Lusk Federal 15 well #1 in the Bone Spring Formation.

As previously disclosed, the agreement with Cimarex Energy calls for the drilling of a second well on this property, dependant upon the results of this first well. Based on these early results, the Company anticipates that the second well will be drilled.

FieldPoint will own a 43.75% working interest, Cimarex will own a 37.5% working interest, and other partners will own the remaining 18.75% working interest in the two wells.

Posted-In: News

 

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