FieldPoint Petroleum Starts Drilling at East Luck 15 Project
FieldPoint Petroleum has commenced the drilling program at East Lusk 15 in New Mexico during August. The company has calculated that it will take around 60 days for completing the drilling well. It has said that the delays have been due to the abrupt difficulties in the drilling processes.
The CEO and President of FieldPoint, has commented that the erratic drilling nature has become a part of the gas and oil industries. Cimarex Energy is one of the top drilling firms in the industry in the well completion at the Bone Spring structure and the companies are elated regarding the prospects, which are held by the initial well.
FieldPoint has inked an operating contract with Cimarex Energy for drilling two wells, which will focus on the Bone Spring structure. It has been anticipated around $5,000,000 as the total cost for each well. These total costs are also expected to include the delays found during the first drill well.
The company will have a 43.75% working interest (W.I) in the two proposed wells, in which the drilling partner Cimarex will have a 37.5% W.I, and the remaining 18.75% W.I will be held by the other partners.
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Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
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