First Titan, which has assembled an impressive portfolio of domestic acreage positions and which continually seeks to expand that portfolio as a global oil/gas, exploration/development company via their wholly-owned subsidiary, First Titan Energy, LLC, reported rather auspicious early production results from a very close analog to their Breaux #2 well in Logan County, Oklahoma.
It seems the new horizontal well is a hallmark of the company’s future success in the region, showcasing the true potential of the Breaux #2 horizontal well (announced Apr 10, making it FTTN’s fourth working interest acquired so far this year) and offering investors a tantalizing look into the profit window for this gem, which only requires completion (already drilled and cased).
Back in April, Osage Exploration and Development, one of FTTN’s competitors in this region of the U.S., reported initial production on their Wolf 1-29 horizontal well over in Kay County. With an 85/15 mix of oil/gas coming up the pipe on Wolf 1-29, Osage saw in excess of 876 BPD on average throughout the first 30 days of production, as well as a whopping 1,185 BPD in the initial 72-hour period.
But check this out, the some 10k foot (5,816 down and 4,101 out) Wolf 1-29 was set up with a rather conventional multi-stage fracturing job. Breaux #2 on the other hand was designed and is being engineered for completion around the revolutionary new QuickFRAC® technology from Packers Plus, a unique and truly innovative solution that allows for huge time, efficiency, and productivity improvements to be achieved.
QuickFRAC uses an ingenious ball triggering system and array of QuickPORT™ sleeves and RockSEAL® II packers to obtain incredible workflow improvements, allowing operators to engineer a complex, multi-stage frac job, fracturing 60 stages downhole while the operator only has to pump 15 treatments from the surface. A special trigger ball is dropped downhole to close the Toe Circulation Sub, allowing pressure to build up, setting the RockSEAL packers and effectively sectioning up the wellbore into isolated stages with ease (additional triggers are fed down to setup the rest of the sections). A single pumping treatment on the surface resulting in precise directing to 2-5 stages downhole results in vastly improved pumping time and costs for the operator, while improving overall production yields/volumes.
The excellent results from Osage’s analogous well have bolstered confidence at FTTN considerably regarding the expectations for Breaux #2. Bedford Energy, Inc. engineered the Breaux #2 and places well completion within 30-60 days of funding.
With juicy figures like 160k barrels of oil and 1.5M metric cubic feet of gas to be had (according to the Petroleum Engineers reserve report), potential production could exceed $14M.
This marks another brilliant play by FTTN for their domestic resource portfolio and shareholders will be keen to see results from Breaux #2 (5,600 feet down and 2,300 feet out into the Hunton Clarita pay zone), whose addition to the other three working interests acquired by the company already this year (Alabama, Louisiana, and Texas), makes the company increasingly attractive in its category to potential investors. The embracing of QuickFRAC is a good example of how FTTN is thinking ahead and moving to develop new solutions for a growing global energy market, as the company steps up to the plate alongside major global players like Anadarko Petroleum and Chesapeake Energy.
For more information on First Titan Corp., or the Breaux #2 horizontal well, please visit the company’s website at: www.FirstTitanEnergy.com
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