FTTN Ramps Up Oil Production in Texas
MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--Following a brief stoppage for repairs, a well within a Texas-based asset of First Titan Corp. (OTCBB: FTTN) is expected to return to production next month, the Company announced today.
“We expect the Minns wells to produce at full capacity now”
The Minns #4, part of FTTN’s multi-well asset package located in the Brookshire Field in Waller County, Texas, is set to produce once more in the oil rich Lone Star State after standard maintenance. Texas oil production grew 21 percent last year to more than 857 million barrels thanks to rising demand and new drilling technology. With all wells of the Minns package back online and producing, and the Company looking to further expand its well count in Texas, FTTN is working to capitalize on the state’s oil industry success.
“We expect the Minns wells to produce at full capacity now,” FTTN Interim CEO Robert Federowicz said. “The oil production numbers in Texas are staggering, and First Titan is excited to see the potential the Minns wells possess.”
FTTN is an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio. It is building a substantial collection of oil and gas properties and is dedicated to the continuing development of energy assets throughout North America alongside companies such as Lucas Energy, Inc. (NYSE: LEI), Earthstone Energy, Inc. (NYSE: ESTE), Fieldpoint Petroleum Corp. (NYSE: FPP) and Evolution Petroleum Corp. (NYSE: EPM).
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.