FieldPoint Petroleum Corp. (FPP) Issues Operational Update
FieldPoint Petroleum Corp. recently issued an operational update on the company’s partnership agreement with Cimarex Energy Co. (NYSE: XEC) to jointly develop certain oil and gas properties. FieldPoint Petroleum Corporation and Cimarex Energy Co. are drilling two wells that are targeting the Bone Spring formation. The wells are located in Lea County, New Mexico, in the East Lusk Federal field. FieldPoint Petroleum Corporation said that the first well in the partnership would be spud in the fall of 2010. The company has a working interest of 43.75% in the well, and Cimarex Energy Co. has a 37.5% working interest, with…