First Titan Corp., an oil and natural gas company, continues aggressive drilling operations and seeking new, profitable asset additions to its lucrative portfolio of oil and gas holdings. The company is now considering taking a new step forward by targeting oil and gas energy assets in Canada.
“We are always looking for financially viable plays, whether it is in the U.S. or north of the border,” FTTN Interim CEO Robert Federowicz said. “Canadian oil production has just reached the surface and possesses the possibility for impressive future gains that cannot be ignored.”
Canada’s National Energy Board recently projected Canadian oil production will increase by almost 75 percent by 2035 to around 6 million barrels a day. Rigzone.com also reports that West Canada Select, Canada’s premier heavy crude blend, traded as low as $41.50 per barrel below West Texas Intermediate earlier this month, and traded on average $19 per barrel below than West Texas Intermediate all throughout 2011 and 2012.
First Titan Corp. already possesses a strong fingerprint of assets in Texas, Oklahoma, Alabama, and Louisiana. One of its biggest sites of focus now is at Lake St. Charles Prospect in Louisiana, where the company is drilling in its oil well to a target depth of 15, 300 feet. Prior to drilling, possible extractable estimates were put at 60 billion cubic feet of gas and 4 million barrels of oil.
Through its wholly owned subsidiary, First Titan LLC, First Titan Corp. seeks to build a substantial collection of premium oil and natural gas properties and engage in continual energy asset development. The company also looks for partnerships with energy development companies that are unique, unconventional, or revolutionary in their extraction methods as well.
For more information, visit: www.firsttitanenergy.com/investors
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