Don't display this message again [x]

Dear User,

On March 28, 2015 OilCareers and Rigzone will be coming together to provide you with access to the world’s largest resource for Oil and Gas news, jobs and industry insights.

We have recently updated our Terms & Conditions to accommodate these changes. Please read them carefully. By using the Site, you agree to be bound by these terms and conditions. These Terms and Conditions are effective as of March 30, 2015.

Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Drilling Underway at FieldPoint Petroleum's New Mexico Well

change text size

FieldPoint Petroleum Corporation announced Tuesday that drilling is well underway on the East Lusk 15 Federal #3 in Lea County, New Mexico. The Company has an operating agreement with Cimarex Energy Co. to drill this well that will target the Bone Spring formation. 

As with the Company’s two other wells on this property, this horizontal well is planned to be drilled vertically to a depth of approximately 9,500 feet, to the Bone Spring formation, and approximately 4,000 to 5,000 feet laterally within the formation to the bottom hole location. Drilling has currently passed 4,500 feet in the vertical portion. 

FieldPoint’s Chairman Roger Bryant stated, “Cimarex was able to begin drilling this well ahead of our original schedule. We are very excited about this project because of the performance of our two existing wells on this property, and because Cimarex Energy is one of the best in the industry at completing wells in the Bone Spring formation. If this third well is successful, this could lead to drilling a fourth well on this lease during this fiscal year. This could serve to significantly increase our daily production and proved producing reserve base."

Also, as with wells #1 and #2, FieldPoint will own a 43.75-percent working interest, Cimarex will own a 37.5-percent working interest, and other partners will own the remaining 18.75-percent working interest in the two planned wells.

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Most Popular Articles
From the Career Center
Jobs that may interest you
Millwright- Great Job Offer
Expertise: Machinist|Mechanic|Motorman
Location: Baytown, TX
 
Water Well Driller
Expertise: Driller|Floorhand
Location: Central Valley, CA
 
Electrician (Drillship in Gulf of Mexico)
Expertise: Rig Electrician
Location: Gulf of Mexico
 
search for more jobs