BRADENTON, Fla.--(BUSINESS WIRE)--A new global boom in technology and services for shale gas development could lead to new and potentially lucrative opportunities servicing exploration companies and meeting energy demands, First Titan Corp. (OTCQB: FTTN) CEO Robert Federowicz said today.
Last month, First Titan Corp. formed a new wholly owned subsidiary, First Titan Energy LLC, to evaluate potential acquisitions and partnerships in the booming shale gas sector. In addition to acquiring technology and service companies, First Titan Energy also plans to bid on leases for the development of gas-producing properties.
“The shale gas sector is poised to power the growth of the energy industry for years to come,” Federowicz said. “We believe it can power First Titan’s growth, as well. As a new and emerging company, First Titan is committed to exploring every opportunity for profit in this rush to develop new resources, from new technology to drilling services and even gas production.”
New methods of extracting natural gas from organic-rich shales offer the promise of a plentiful new source of clean-burning natural gas. As nations around the world look to shale gas to meet the growing demand for energy, exploration companies are engaged in a scramble to identify innovative and environmentally responsible solutions to meet these demands. Major oil and gas companies such as Exxon Mobile, Royal Dutch Shell, Total SA and Mitsui continue to drive the sector’s growth, buying up smaller gas exploration companies and their claims around the globe. With a rush of companies preparing to drill new wells in Europe, Asia and the Americas, another boom industry is rising—providing drillers with cutting-edge equipment and services.
“Extracting natural gas from dense shale formations may be highly profitable, but it isn’t easy,” Federowicz said. “Exploration companies need innovative tools and techniques to recover these resources without wasting money or destroying the environment. The demand for those services is growing fast, and First Titan is working to identify these innovations and capitalize by introducing them into the global market.”
For more information on FTTN’s new oil and gas business initiative, please visit http://www.firsttitanenergy.com/investors.html.
About First Titan Energy
First Titan Energy, a wholly owned subsidiary of First Titan Corp., is committed to the future utilization of efficient and eco-friendly methods of extracting natural gas, a cleaner and more affordable energy alternative. The company continually seeks to partner with energy developers around the world that are pursuing innovative new methods of gas extraction, including the development of cleaner chemicals and methods for use in hydraulic fracturing.
For more information about First Titan Energy, please visit http://www.firsttitanenergy.com.
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