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FPPP Fieldpoint Petroleum

Fieldpoint Petroleum Corp. engages in the acquisition, development, and operation of oil and natural gas properties. Its principal properties include Block A-49 and Block 6 Field, Spraberry Trend, Giddings Field, Serbin Field, and Tuleta West Field in Texas; Flying M Field, Sulimar Field, North Bilbrey Field, Lusk Field, and Loving North Morrow Field in New Mexico; Apache, Chickasha, and West Allen Fields in Oklahoma; Longwood Field in Louisiana; and Big Muddy Field in Wyoming. The company was founded by Ray D. Reaves Jr. on March 11, 1980 and is headquartered in Austin, TX.

Company profile

Ticker
FPPP
Exchange
Website
CEO
Roger D. Bryant
Employees
Incorporated
Location
Fiscal year end
Former names
Energy Production Co
SEC CIK
IRS number
840811034

FPPP stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

13 Aug 19
12 Apr 21
31 Dec 21

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
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Largest transactions
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Financial report summary

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Risks
  • Failure to comply with any of the financial covenants contained in our revolving credit facility could cause an event of default and have a material adverse effect on our business.
  • Our lenders can limit our borrowing capabilities, which may materially impact our operations.
  • Oil and gas operations are risky.
  • A continuation of the decline in oil and natural gas prices would have a material impact on us.
  • Our business will depend on transportation facilities owned by others.
  • Market conditions could cause us to incur losses on our transportation contracts.
  • Our actual production, revenues and expenditures related to our reserves are likely to differ from our estimates of our proved reserves. We may experience production that is less than estimated and drilling costs that are greater than estimated in our reserve reports. These differences may be material.
  • Estimating our reserves future net cash flows is difficult to do with any certainty.
  • Acquiring interests in other properties involves substantial risks.
  • Operational risks in our business are numerous and could materially impact us.
  • We must comply with environmental regulations.
  • Environmental liabilities could adversely affect our business
  • Federal, state and local legislative and regulatory initiatives relating to hydraulic fracturing could result in increased costs and additional operating restrictions or delays in our production of oil and gas and lower returns on our capital investments.
  • Our operations are subject to cybersecurity risks.
  • We engage in commodity derivative transactions which involve risks that can harm our business.
  • Federal and state legislation and regulatory initiatives and private litigation relating to hydraulic fracturing could stop or delay our development project and result in materially increased costs and additional operating restrictions.
  • Part of our strategy involves using some of the latest available horizontal drilling and completion techniques, which involve risks and uncertainties in their application.
  • Changes in tax laws may adversely affect our results of operations and cash flows.
  • U.S. federal income tax reform could adversely affect us.
  • Oil, NGL and gas prices are volatile. Continued depressed oil, NGL or gas prices would adversely affect our business, financial condition and results of operations and our ability to meet our capital expenditure requirements and financial commitments.
  • The Company’s financial position, results of operations, access to capital and the amount of oil and gas that may be economically produced would be negatively impacted if oil and gas prices stay depressed for an extended period of time.
  • We may not be able to generate enough cash flow to meet our debt obligations.
  • Our lenders can limit our borrowing capabilities, which may materially impact our operations.
  • Our revolving credit facility and the indenture governing our revolving credit facility contain operating and financial restrictions and covenants that may restrict our business and financing activities or that economic conditions and commodity prices may cause us to breach.
  • Price declines during 2015 resulted in a material write down of the carrying values of our properties, and further price declines could result in additional write downs in the future, which would negatively impact our net income and results of operations. Additionally, current SEC rules also could require us to write down our proved undeveloped reserves in the future.
  • The Standardized Measure of our estimated reserves and PV-10 included in this report should not be considered as the current market value of the estimated oil and gas reserves attributable to our properties.
  • Competition in the oil and natural gas industry is intense, and we are smaller and have a more limited operating history than many of our competitors.
  • Our operations substantially depend on the availability of water. Restrictions on our ability to obtain, dispose of or recycle water may impact our ability to execute our drilling and development plans in a timely or cost-effective manner.
  • Climate change legislation or regulations regulating emissions of GHGs and VOCs could result in increased operating costs and reduced demand for the oil and gas we produce.
  • Governmental regulations can hinder production.
  • Minority or royalty interest purchases do not allow us to control production completely.
  • Environmental regulations can hinder production.
  • Government regulations could increase our operating costs
  • We have not paid cash dividends and do not anticipate paying any cash dividends on our common stock in the foreseeable future.
  • We failed to regain compliance with NYSE MKT listing standards in November 2017 and our shares were delisted.
Management Discussion
  • Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • FieldPoint Petroleum Corporation derives its revenues from its operating activities including sales of oil and natural gas and operating oil and natural gas properties. The Company's capital for investment in producing oil and natural gas properties has been provided by cash flow from operating activities and from bank financing. The Company categorizes its operating expenses into the categories of production expenses and other expenses.
  • The Company has temporarily suspended drilling and exploration activities due to low commodity prices and has no near-term plans at this time to continue development of the Taylor Serbin field. Furthermore, we plan to limit any remedial work that does not increase production and reduce general and administrative costs as much as possible until commodity pricing improves. As we are out of compliance with our revolving line of credit and our borrowing base has been decreased, we do not expect to reinstate our drilling programs until commodity prices and our cash flow improve.
Content analysis
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