First Titan is
focused on deliberate efforts to usher in an energy revolution and capitalize
on the demand for U.S.-derived oil and gas. Cries for organic resources
continue to grow, and First Titan aims to answer this broad appeal by utilizing
cutting-edge technology to extract resources that were once deemed too
difficult or expensive to recover.
The company
continually seeks to partner with energy developers with the same vision:
pursuing innovative new methods of oil and gas extraction, including the
development of new technologies, cleaner methods, and unconventional resources.
To see this vision
into fruition, First Titan has acquired multiple working interests with
established oil exploration companies to deliver new hydrocarbons to an
ever-growing market. First Titan’s primary focus (among other projects) is on
drilling activities at its acquisition in South Lake Charles, Louisiana.
The South Lake Charles
Prospect is located seven miles south of the city of Lake Charles. Production
estimates for the South Lake Charles well reveal that 60 billion cubic feet of
gas (BCFG) and 4 million barrels of oil (MMBO) could be extracted.
First Titan partner
Intrepid Drilling owns rights to all depths in 453 contiguous acres at the
prospect and plans call for the company to drill to a total depth of 15,300 ft.
at the project location. Intrepid Drilling will operate the well.
The most likely case
for proved and probable reserves is 26 billion cubic feet gas and 2 million
barrels of oil. First Titan also has the right to participate in a second well,
a 14,800-foot test in the Northern fault block to recover proved, undeveloped reserves
in the Lower Hackberry sand up dip of the Moran Exploration No. 1 Burton, which
produced 16.7 BCFG and 1.3 MMBO.
The United States
currently imports around 20 percent of its total energy needs. But if
International Energy Agency (IEA) projections prove correct, the nation will
become all but self-sufficient in net terms — a dramatic reversal of the trend
seen in most other energy importing countries and widening First Titan’s
potential market share.
For more
information, visit www.firsttitanenergy.com
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