With First Titan Corp. (OTCBB:FTTN) continuing to investigate all avenues to add to its growing oil and gas portfolio, forecasters are predicting domestic natural gas production to boom, increasing the probability of significant return on investment from the Company’s assets in that sector.
“The revenue potential of natural gas has First Titan very excited about our existing assets and also potential acquisitions we are currently doing due diligence on”
The Department of Energy predicts natural gas to be the largest source of U.S. electricity by 2035, and for production to jump 56 percent by 2040. Of more immediate relevancy, the DOE’s Energy Information Administration reports that because of the increased use of horizontal drilling and hydraulic fracturing or fracking, natural gas production and prices are going to reach new highs in 2014.
The Natural Gas Production Outlook 2013-2014 reports that natural gas production will grow from 65.7 billion cubic feet per day last year to 69.1 Bcf/d by the end of 2014. These estimates suggest large potential gains for FTTN’s current and future natural gas assets.
“The revenue potential of natural gas has First Titan very excited about our existing assets and also potential acquisitions we are currently doing due diligence on,” FTTN Interim CEO Robert Federowicz said.
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).