Natural gas is expected to be the largest source of U.S. electricity by 2035, the Department of Energy (DoE) predicts, also forecasting a 56 percent hike in production by 2040. The DoE also expects that natural gas will be the leading source of U.S. electricity by 2035, and that production will jump 56 percent by 2040.
In light of this incredible outlook on the oil and gas industry, First Titan Corp. says that it is exploring all avenues and opportunities to add to its growing oil and gas portfolio, recognizing the probability of significant return on investment from the company's assets in that sector.
The company also notes that the DOE's Energy Information Administration expects natural gas production and prices to reach new highs in 2014, fueled by increased use of horizontal drilling and hydraulic fracturing or fracking. Furthermore, the Natural Gas Production Outlook for 2013-2014 reports that natural gas production will increase from 65.7 billion cubic feet per day in 2013 to 69.1 Bcf/d by the end of 2014.
These estimates suggest large potential gains for First Titan's current and future natural gas assets, said First Titan Interim CEO Robert Federowicz.
"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," Federowicz stated in the news release.
For more information, visit firsttitanenergy.com
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