MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--First Titan Corp. (OTCBB: FTTN) is keeping close tabs on the oil & gas sector, particularly the industry’s major players, in anticipation of snapping up properties for sale at greatly discounted prices then turning those acquisitions into long-term, revenue-producing assets.
As crude prices rebound following last year’s sudden downturn, some industry watchers are predicting oil & gas megamergers will be the next energy trend as the biggest players consolidate in order to grow.
“As prices slowly rise, oil & gas companies will now start to favor growth over safety,” said FTTN CEO Sidney Jim. “One way to grow is through mergers. When companies merge, they often shed assets to pay for consolidation. Smaller, nimble companies like FTTN with the ability to move quickly can take advantage of that environment.”
FTTN has spent the past weeks studying the market and scouting potential asset acquisitions, both in the United States and in Mexico’s newly reformed energy sector.
The oil & gas industry has seen many periods such as this in the past. Mr. Jim said the companies that survive these industry shakedowns are the ones who make connections, do their due diligence and stay focused on a sustainable plan for growth.
“We have a definite plan in place to grow revenues as the industry rebounds,” Mr. Jim said. “One key component is making smart acquisitions. Our long-range plan is coming into focus. We have the resources to make great strides in this current environment, but we want to ensure that any acquisitions we make fit our plan and will lead to sustainable revenues and profits in the future.”
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.
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