Natural Gas Production Forecast Good News for FTTN
With First Titan Corp. (OTCBB:FTTN) continuing to investigate all avenues to add to its growing oil and gas portfolio, forecasters are predicting domestic natural gas production to boom, increasing the probability of significant return on investment from the Company's assets in that sector.
The Department of Energy predicts natural gas to be the largest source of U.S. electricity by 2035, and for production to jump 56 percent by 2040. Of more immediate relevancy, the DOE's Energy Information Administration reports that because of the increased use of horizontal drilling and hydraulic fracturing or fracking, natural gas production and prices are going to reach new highs in 2014.
The Natural Gas Production Outlook 2013-2014 reports that natural gas production will grow from 65.7 billion cubic feet per day last year to 69.1 Bcf/d by the end of 2014. These estimates suggest large potential gains for FTTN's current and future natural gas assets.
'The revenue potential of natural gas has First Titan very excited about our existing assets and also potential acquisitions we are currently doing due diligence on,' FTTN Interim CEO Robert Federowicz said.
FTTN is an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio. It 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 Lucas Energy, Inc. (NYSE: LEI), Earthstone Energy, Inc. (NYSE: ESTE), Fieldpoint Petroleum Corp. (NYSE: FPP) and Evolution Petroleum Corp. (NYSE: EPM).
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.
For more information:
First Titan Energy, LLC
495 Grand Boulevard, Suite 206
Miramar Beach, Florida
United States, 32550