FTTN: U.S. Oil Production Expected to Continue Increasing
08 January 2014 - 9:00PM
Business Wire
Oil production reached 25-year highs in 2013, and with increased
output projected for this year, First Titan Corp. (OTCBB: FTTN) is
in position to see increased return on investment from the assets
in its growing oil and gas portfolio.
According to the Department of Energy, the U.S. is producing
8.11 million barrels of oil a day, well outpacing U.S. oil
production in 2012 of 5.50 million barrels a day. The last time the
U.S. saw this amount of oil produced domestically was 1988.
Thanks in part to the discovery of shale oil, crude output is
expected to increase even more in 2014. The Energy Information
Administration (EIA) projects U.S. crude output to reach 9.6
million barrels per day this year.
“As we continue scouting more possible acquisitions, it is clear
this sector will continue to be able to meet increased demand with
supply,” Interim CEO Robert Federowicz said. “First Titan (Corp.)
is excited about the crude projections for 2014 after a very
successful 2013.”
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.
First Titan CorporationRobert
Federowicz, 850-269-7267Interim CEOinfo@firsttitancorp.com