Scottsdale 2/15/2014 4:00:00 AM
QualityStocks News - First Titan (FTTN) Texas-based Well on Track to Produce
QualityStocks would like to highlight First Titan Corp. (OTCQB: FTTN), focused on exploring and developing oil and natural gas resources in the southern region of the United Sates, but with a worldwide growth strategy in place. 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.
In the company’s news,
First Titan announced that, after a brief stoppage for repairs, a well within a Texas-based asset is expected to return to production next month.
The Minns #4, part of the company’s multi-well asset package located in the Brookshire Field in Waller County, Texas, is set to produce once more in the oil rich Lone Star State after standard maintenance. Texas oil production grew 21 percent last year to more than 857 million barrels thanks to rising demand and new drilling technology. With all wells of the Minns package back online and producing, and the company looking to further expand its well count in Texas, FTTN is working to capitalize on the state’s oil industry success.
“We expect the Minns wells to produce at full capacity now,” FTTN Interim CEO Robert Federowicz said. “The oil production numbers in Texas are staggering, and First Titan is excited to see the potential the Minns wells possess.”
FTTN is an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio. Building a substantial collection of oil and gas properties the company is dedicated to the continuing development of energy assets throughout North America alongside companies such as Lucas Energy, Inc., Earthstone Energy, Inc., Fieldpoint Petroleum Corp. and Evolution Petroleum 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.
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Forward-Looking Statement:
This release may contain forward-looking statements 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
