FieldPoint Petroleum Corp. reported its third-quarter 2015 financial results on Nov. 16. The quarter ended Sept. 30.
Total revenues decreased to $957,482, down from third-quarter 2014’s roughly-$2.3 million. This was due primarily to lower commodity prices and decreased production, the company added.
Net income decreased to $276,289 from third-quarter 2014’s $139,632.
"This was obviously another challenging quarter for FieldPoint, as well as the oil and gas industry as a whole. We are focused on maximizing our production and lowering our operating costs in this low price environment. However, we continue to search for and evaluate all possible opportunities to grow as we wait for prices to improve, said Phillip Roberson, president and CFO.
FieldPoint Petroleum Corp. is based in Austin, Texas.
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