First Titan Corp., an oil and gas energy company, is in negotiations with BioFuel Power Corp. about definitive agreements to make an entry into the $5.29 billion gas-to-liquids market. The company notes that as it continues these negotiations, the strength of the profit potential of converting flared gas reserves into liquid hydrocarbon fuel is becoming increasingly clearer. There is an abundance of natural gas that is burned into the atmosphere every day, with literally millions of dollars in revenue going up in smoke. First Titan and its partners are looking at the possibility of investing in a technology that converts natural gas that is currently being flared into a diesel-like fuel that is tremendously valuable in today's energy marketplace.
A study by Ceres captures in more concrete terms the potential for profitability in this area. According to the study, 30 percent of produced natural gas in North Dakota alone is being flared. Natural gas flaring in North Dakota represented roughly $3.6 million in lost revenue per day in May, which calculates to over $1.3 billion per year on an annualized basis.
First Titan Corp. is always looking for opportunities to diversify its current portfolio of oil and gas holdings. BioFuel Power Corp. is an established company that possesses the technology to increase the financial returns of FTTN's natural gas resource holdings and acquisition targets. With asset holdings in Louisiana, Texas, Oklahoma, and Alabama, First Titan says an entrance into the gas-to-liquids market is strongly in line with its mission to partner with companies that use leading-edge oil and natural gas extraction methods and technologies, including ones that are environmentally efficient, new, or unconventional. The company is exploring opportunities such as these globally through its wholly owned subsidiary, First Titan, LLC.
For more information, please visit FirstTitanEnergy.com
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