Today, First Titan Corp. wholly-owned subsidiary, First Titan Energy, LLC, reported entry into the rapidly evolving North American oil and gas industry via start of talks to acquire key acreage leases/exploratory wells.
Looking to position the Company ahead of growing global demand for energy inputs, CEO of FTTN, Robert Federowicz, pointed to emergent drilling technologies that have placed NA oil and gas previously viewed as not economically viable to exploit. Federowicz also explained that many of the associated challenges presented by developing such resource bases overseas weren’t present in the domestic wells/leases currently under consideration.
Federowicz further explained that, while FTTN was still actively engaged in pursuing a variety of shale gas opportunities, the strategic timeline for global developments has opened up a nice window to make simultaneous exploration of NA resources healthy to the bottom line. Furthermore, rising demand that is projected to continue at an astounding rate, primarily from Asian and European markets, has created a tsunami of demand forces in the market – Federowicz wants to get in ahead of major energy companies, who are now similarly eyeing US energy resources for development.
Such an agile flanking maneuver by FTTN to position the Company ahead of the curve will exploit upstream innovations in the fundamental technologies of the business. US DOE data shows petroleum exports have doubled since three years ago, placing the US again on the frontier of oil and gas exploration with net energy exporter status in tow. Global demand isn’t flagging and with massive growth predicted over the next few decades for oil and gas inputs, FTTN is moving to get infrastructure producing before larger players like Chevron, Royal Dutch Shell and Exxon Mobil solidify.
FTTN’s energy subsidiary will be seeking to develop oil and gas resources, emphasizing strategic partnering, analysis of unconventional plays and emerging advanced technologies that are safer, cleaner and more efficient. The superb engineering and design for which FTTN is known translates very well into overseeing energy production roll out and the vast experiential knowledge gained across manufacturing, project management, technical design and analysis in several fields may serve investors well.
For more information on First Titan Corp., or on First Titan Energy, LLC, please visit the Company’s websites: http://firsttitancorp.com and http://firsttitanenergy.com
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