A new development in oil and gas fracking could deliver lower costs and higher recoveries at First Titan Corp.’s (OTCBB:FTTN) new well in Logan County, Okla.—meaning higher potential profits for the emerging energy company.
Packers Plus’ revolutionary new product, QuickFRAC, is on the cutting edge of efforts to increase the amount of oil and gas recovered from a well, known as the Recovery Factor (RF). Most wells only recover 5-20 percent of the Original Oil in Place (OOIP).
Hydraulic fracturing, or “fracking,” has allowed millions of dollars’ worth of oil and gas previously believed to be unrecoverable to become very hot commodities in the U.S. and elsewhere. By making unconventional resources suddenly lucrative, fracking has become a global game changer for the energy sector and generated extraordinary investor interest in recent years.
In the new, ever-longer horizontal wells being drilled, fracking is done in multiple stages—often up to 60 depending on how hard the surrounding rock or sand is. For the first time, QuickFRAC technology makes it possible to frack two to eight 100-meter stages at the same time, using the same amount of fluid and proppant.
By enabling the completion of several fracking stages at once, QuickFRAC can potentially deliver hundreds of thousands of dollars in savings on overall well costs for a producer while significantly increasing the Recovery Factor.
QuickFRAC will be used on a promising new horizontal well, Breaux #2, in which FTTN acquired a working interest earlier this month. The well is ready for completion already, and FTTN expects that QuickFRAC will assist the company and its partners in maximizing production. If the product lives up to its potential, QuickFRAC could be implemented in the company’s future drilling projects, too.
First Titan Corp. is aggressively pursuing promising new oil and gas opportunities throughout the Southern U.S. Breaux #2 is FTTN’s fourth working interest in prospective domestic wells. The company has already acquired working interests in three new wells in Texas, Louisiana and Alabama this year.
For more information on FTTN’s growing oil and gas assets, please visit www.firsttitanenergy.com/investors.html.
First Titan is working to develop new energy solutions to compete in a booming global industry alongside Chesapeake Energy Corp. (NYSE: CHK), Anadarko Petroleum Corp. (NYSE: APC), SandRidge Energy Inc. (NYSE: SD) and Apache Corp. (NYSE: APA).
About First Titan Corp.
First Titan Corp., through its wholly owned subsidiary, First Titan Energy, LLC, is committed to the exploration and development of oil and natural gas resources around the globe. The company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.
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