FieldPoint Petroleum Corp.’s (FPP) $4.4M Acquisition Could be its “Most Important Acquisition”
FieldPoint Petroleum Corp. is an oil and gas exploration, production and acquisition company primarily focused on Louisiana, New Mexico, Oklahoma, Texas and Wyoming. The company today announced the $4.4 million acquisition of a working interest in Texas. Per the agreement, effective September 1, 2009, FieldPoint will acquire a 74 percent to 100 percent working interest in the Block Field in Andrews County, Texas, as well as net revenue interests between 59 percent and 87.5 percent in leasehold and equipment. The field is expected to generate roughly 204,000 barrel of oil equivalent (BOE) in proved developed producing reserves based on a…