With First Titan Corp. (OTCBB: FTTN) enjoying a successful year of adding assets to its growing oil and gas energy portfolio, the company is evaluating a new acquisition target in Kansas.
“Trego County is an intriguing opportunity for First Titan”
The Trego County Project in Kansas features several thousand acres that are mostly covered by 3-D seismic. Given the prevailing regional well spacing, the project has 60 potential vertical well locations, and based on 3-D seismic data available, several drill-ready prospects are identified.
“Trego County is an intriguing opportunity for First Titan,” FTTN Interim CEO Robert Federowicz said. “The field is teeming with production potential and fits with the other low-risk, high-reward acquisitions we have made this year.”
FTTN is an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio. The company possesses some of the best plays in Alabama, Louisiana, Oklahoma and Texas, including the South Lake Charles Prospect, where the FTTN well is being drilled to a target depth of 15,300 feet. Initial reserve estimates for the well were that approximately 60 billion cubic feet of gas and 4 million barrels of oil could be extracted.
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).