Fieldpoint Petroleum Corp. ( FPP ) is off its session high, with shares now up about 0.7% at $4.36 each after the company said production at its recently completed East Lusk Federal 15 well #1 in Lea County, N.M., continues to increase rapidly.
On December 27, the well produced 487 barrels of oil per day, with gas still being vented. Yesterday, the well produced 668 barrels of oil and natural gas sales began at a flow rate of 429 million cubic feet per day. FieldPoint will own a 43.75% working interest in the well; Cimerex Energy ( XEC ) will have a 37.5% stake. XEC shares are up 21 cents to $61.77 each.
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