While First Titan Corp. (OTCBB: FTTN) seeks to add assets to its growing oil and gas energy portfolio, a recent report from the U.S. Energy Information Association suggests natural gas production in 2014 will eclipse its record-setting pace of 2013.
The EIA last week raised its estimate for domestic natural gas production in 2014, projecting next year’s output to be up more than 1 percent from this 2013’s estimated record-high levels. These numbers embolden the earning potential for FTTN’s collection of natural gas reserves moving forward.
According to Reuters, the EIA said it expected marketed natural gas production in 2014 to rise by 0.74 billion cubic feet per day. This year the number was 71.03 bcf per day. If the forecast is realized, it would be the fourth straight year of record production.
FTTN is an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio. The company possesses some of the best plays in Alabama, Louisiana, Oklahoma and Texas, including the South Lake Charles Prospect, where the FTTN well is being drilled to a target depth of 15,300 feet. Initial reserve estimates for the well were that approximately 60 billion cubic feet of gas and 4 million barrels of oil could be extracted.
First Titan Corp. is building a substantial collection of oil and gas properties and is dedicated to the continuing development of energy assets throughout North America alongside companies such as Continental Resources, Inc. (NYSE: CLR), Chesapeake Energy Corp. (NYSE: CHK), SandRidge Energy Inc. (NYSE: SD) and Ultra Petroleum Corp. (NYSE: UPL).
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
About First Titan Corp.
First Titan Corp., through its wholly owned subsidiary, First Titan Energy, LLC, is committed to the exploration and development of oil and natural gas resources around the globe. The Company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Robert Federowicz, 941-753-4889