Natural gas is
expected to be the largest source of U.S. electricity by 2035, the Department
of Energy (DoE) predicts, also forecasting a 56 percent hike in production by
2040. The DoE also expects that natural gas will be the leading source of U.S.
electricity by 2035, and that production will jump 56 percent by 2040.
In light of this
incredible outlook on the oil and gas industry, First Titan Corp. says that it
is exploring all avenues and opportunities to add to its growing oil and gas
portfolio, recognizing the probability of significant return on investment from
the company’s assets in that sector.
The company also
notes that the DOE’s Energy Information Administration expects natural gas
production and prices to reach new highs in 2014, fueled by increased use of
horizontal drilling and hydraulic fracturing or fracking. Furthermore, the
Natural Gas Production Outlook for 2013-2014 reports that natural gas
production will increase from 65.7 billion cubic feet per day in 2013 to 69.1
Bcf/d by the end of 2014.
These estimates
suggest large potential gains for First Titan’s current and future natural gas
assets, said First Titan Interim CEO Robert Federowicz.
“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,”
Federowicz stated in the news release.
For more
information, visit www.firsttitanenergy.com
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