First Titan is aggressively adding to an already impressive portfolio of domestic hydrocarbon assets (Alabama, Louisiana, Oklahoma, and Texas), with the report of yet another strategic coup today, as news comes out that the company is elbow-deep in negotiations to acquire some 1k acres in prime Texas Gulf Coast territory.
This deal would tack on some serious acreage to FTTN's Texas operations, currently consisting of some 640 net acres in Terrell County (West Texas), known as the Big Canyon Prospect. The target properties currently being negotiated for contain both producing assets and considerable development upside, giving FTTN a nice break-out foothold in the much sought after Gulf region market. The recent announcement (Apr 9) of a more assertive M&A strategy for expansion is heating up at FTTN and this deal comes as no surprise to anyone who has been following the story.
You can see the flurry of recent advances they have made in April alone, from grabbing well-connected veteran Pimuro Capital Partners, LLC (Apr 2), for sourcing/evaluating hydrocarbon opportunities of optimum potential, to logistical progress in both Louisiana (kicked off prep work at a new drilling site March 26) and Oklahoma (new horizontal well rigged up March 20).
Despite this momentum, FTTN still has their foot on the accelerator in order to grab vital market share alongside companies like Chesapeake Energy (NYSE:CHK) and SandRidge Energy Inc. (NYSE:SD) in the booming domestic oil and gas regions via their wholly-owned subsidiary, First Titan Energy, LLC. These are exciting times for the company as they continue to push hard on all fronts, from M&A to development. FTTN is actively seeking to partner with other, similarly competent energy developers who also stand at the tip of the spear in helping to retake American energy independence by advancing the best, most innovative recovery technologies.
Cleaner methods, more unconventional resources, and the personnel/hardware to make extraction a reality; that is what keeps FTTN moving ever forward. The deal announced today will really beef up FTTN's Texas footprint and investors can look forward to some juicy news about this major acquisition as the proceedings advance.
With a new era in the emerging global energy market dawning and the U.S. increasingly featured as a dominant variable in the overall equation, FTTN is ahead of the game, having already done the math on this one and thus laser-focused on strategic growth of their foundation of producing assets. FTTN is already partnered up with exploration and discovery powerhouse, Intrepid Drilling, LLC, has ownership of five working interests in North American oil wells, and is getting their feet wet in Gulf of Mexico offshore exploration.
Want more info? Visit the newly redesigned First Titan Corp. website atwww.FirstTitanEnergy.com
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