Exploration & Production | Drilling / Well Results | Quarterly / Earnings Reports | Second Quarter (2Q) Update
FieldPoint Evaluating Results at Permian Ranger Project
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FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today its second quarter financial results for the three months ended June 30, 2014.
Phillip Roberson, FieldPoint President, COO and CFO, stated, "Our second quarter results were much better than they appear on the surface. We are very fortunate that our new Ranger wells were coming online as we were faced with lower production from our Bone Spring wells in New Mexico, due to a bottleneck in processing capacity in that area. Our drilling partner, Cimarex Energy, made the decision to do pump upgrades during this period of slow production. This should improve future production, but added to operating costs in this quarter. In spite of being faced with some additional loss of production, we chose to continue our workover and…
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