FTTN Poised for Gains as Oil and Gas Investments Continue to Rise
BRADENTON, Fla.--(BUSINESS WIRE)-- A study recently released by one of the leading accounting firms in the world revealed that investments in the U.S. oil and gas sector have reached their highest level in almost a decade, which bodes well for surging Florida energy company, First Titan Corp. (OTCBB: FTTN), as it continues to expand its domestic oil and gas portfolio.
Ernst & Young, one of the world’s largest and most respected accounting firms, found that last year the 50 largest U.S. oil and gas companies spent almost $186 billion on domestic exploration and developing new production. That finding represents a 20 percent increase from the previous year and is the most in the 10 years Ernst & Young has done the analysis.
FTTN has long focused on Texas and its vast resources of oil and gas in its aggressive acquisitions strategy and possesses assets in Terrell County. FTTN is also targeting acquisitions in Waller and Hardin Counties in Texas as it continues to expand its operational footprint and diversifies its oil and gas holdings. The U.S. Energy Information Administration reports that U.S. oil production reached 6.5 million barrels a day in 2012, with oil production increasing 35 percent in Texas.
FTTN plans to continue exploring numerous assets in Texas and throughout North America as part of its mission to compile a portfolio of producing oil and gas properties. FTTN is a rising oil and gas company 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.
First Titan Corporation
Harvey S. Bryant, 941-753-4889
President and CEO
KEYWORDS: United States North America Florida