Global Leader in International Oil and Gas Industry News

posted in:

FTTN explores acquisition of production wells

Tuesday, Nov 27, 2012

For the first time in the company’s brief history, First Titan Corp. (OTCBB: FTTN) is exploring the acquisition of producing oil and gas wells.

“We look forward to evaluating many such opportunities as our company grows.”

FTTN is concentrating its initial exploration to southern Louisiana, one of the nation’s richest energy producing regions. The company is already evaluating the purchase of part of existing production from a well pumping out 200 barrels of oil a day and three million cubic feet of gas.

“Due to its steady production numbers and geographic proximity to our other projects, this well looks like a smart, natural addition to First Titan’s asset base,” said FTTN CEO Robert Federowicz. “We look forward to evaluating many such opportunities as our company grows.”

FTTN owns a working interest in a production well in Alabama, with plans to drill a second in Louisiana before the end of the year. The promising reserve estimates for both assets have FTTN predicting a highly successful 2013 for the company and its shareholders.

For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.

First Titan is working to develop new energy solutions to compete in a booming global industry alongside Occidental Petroleum Corp. (NYSE: OXY), Anadarko Petroleum Corp. (NYSE: APC), Energen Corp. (NYSE: EGN) and Apache Corp. (NYSE: APA).

Source: Business Wire

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Silver Fox® labels exhibit excellent results in latest long-term UV tests 16-04-2014
OMVS explores adding oil & gas transportation services 16-04-2014
Octagon 88 Resources announces Red Earth light oil project update 16-04-2014
Dejour sees 60% increase in net production at Woodrush 16-04-2014
Integrated Oceaneering team combines technologies for Australian success 16-04-2014
SoCalGas Unveils Branded, Public-Access Compressed Natural Gas Refueling Station 16-04-2014
First Liquified Natural Gas Tank Rolls Off Assembly Line 16-04-2014
Barryroe farm out update 16-04-2014
Gastar Exploration Resumes Unrestricted Marcellus Shale Production 16-04-2014
Lamprell has received a new contract award for the construction and delivery of two Mobile Offshore Drilling Platforms 16-04-2014