The 50 largest U.S.
oil and gas companies shelled out approximately $185 billion on domestic
exploration and development efforts in 2012, an increase of 20 percent from the
year prior. Industry behemoths are producing oil at an unprecedented rate,
making the U.S. the fastest-growing oil and natural gas producer in the world.
Industry-wide
potential prompted the International Energy Agency (IEA) to recall its previous
forecasts that Saudi Arabia would hold its reign as the world’s top oil
producer through 2035 – now forecasting that by 2017 the United States will
take the rank of the world’s largest oil producer.
If this forecast
comes to fruition, the United States would dramatically buck the trend of other
importing countries, becoming all but self-sufficient in net terms. The rebound
in U.S. oil and gas production is driven by upstream technologies with the
ability to access once untouchable tight oil and shale gas resources.
One such company
utilizing cutting-edge technology to extract oil and gas resources is small-cap
oil and gas exploration and development company First Titan Energy. The
company’s efforts are focused on recovering fossil fuels that were once
considered too difficult or too expensive to recover. New innovations in
drilling, combined with rising global demand and cheaper gas and electricity
prices, has positioned the company as a premier early-stage company with strong
growth potential.
The company’s
current focus is on the exploration and development of oil and natural gas
resources in the southern region of the United States. First Titan maintains
drilling activities at its acquisition in South Lake Charles, Louisiana, and
new acquisitions are to include five new wells along the Gulf Coast, from West
Texas to Alabama.
Alert to the
burgeoning growth of the oil and gas industry, First Titan continuously seeks
partnerships 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.
For more
information, visit www.firsttitanenergy.com
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