First Titan Corp. (OTCBB: FTTN) announced today that production numbers from the Alabama well the Company owns an interest in is exceeding expectations and is expected to match or surpass pre-production projections.
FTTN’s producing well in the Little Cedar Creek Field in Alabama, is pumping approximately 343 barrels of oil and 58,000 cubic feet of gas per day. Located in Conecuh County’s Brooklyn Field, initial well estimates were for 400,000 to 800,000 barrels of oil to be extracted.
“Production at the Alabama well is on schedule and is quite promising at this point of extraction,” FTTN Interim CEO Robert Federowicz said. “We have full confidence the final production numbers will land within the initial well estimates, if not exceed them.”
FTTN, an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio, possesses some of the best plays in Alabama, Louisiana, Oklahoma and Texas and is currently exploring additional acquisition targets.
First Titan Corp. 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 Continental Resources, Inc. (NYSE: CLR), Chesapeake Energy Corp. (NYSE: CHK), SandRidge Energy Inc. (NYSE: SD) and Ultra Petroleum Corp. (NYSE: UPL).