FTTN: Cold Temperatures to Turn Up Natural Gas Prices
With unseasonably cold temperatures sweeping the nation, natural gas inventories are hitting a deficit, driving the price of natural gas within range of $4.00 per million British thermal units (mmbtu) and spiking the value of natural gas assets owned by oil and gas energy company First Titan Corp. (OTCBB: FTTN).
The Energy Information Association reported that operators recently withdrew 45 billion cubic feet of natural gas from storage as severe cold blanketed the nation. The withdrawal was above last year’s draw of 38 bcf, and much colder temperatures are being forecast for the winter, beginning this month. The National Oceanic and Atmospheric Association and The Weather Channel are calling for colder-than-average temperatures over the northern tier of states, from Washington state to northern New England.
“As it gets colder, people are forced to use the heater more, even in usually mild climate regions such as the Southwest and Southeast,” FTTN Interim CEO Robert Federowicz said. “We expect our natural gas plays to be in even more demand as inventories decrease.”
Industry researcher Seeking Alpha reports that expected frigid temperatures over key regions of the U.S. will lead to large withdrawals from natural gas inventories in the coming weeks, driving the price for natural gas to higher than expected levels.
First Titan Corp. is building a substantial collection of oil and natural gas properties and is dedicated to the continuing development of energy assets throughout North America alongside companies such as Continental Resources, Inc. (NYSE: CLR), Chesapeake Energy Corp. (NYSE: CHK), SandRidge Energy Inc. (NYSE: SD) and Ultra Petroleum Corp. (NYSE: UPL).
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
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.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
First Titan Corporation
Robert Federowicz, 941-753-4889
Interim CEO
info@firsttitancorp.com
With unseasonably cold temperatures sweeping the nation, natural gas inventories are hitting a deficit, driving the price of natural gas within range of $4.00 per million British thermal units (mmbtu) and spiking the value of natural gas assets owned by oil and gas energy company First Titan Corp. (OTCBB: FTTN).
The Energy Information Association reported that operators recently withdrew 45 billion cubic feet of natural gas from storage as severe cold blanketed the nation. The withdrawal was above last year’s draw of 38 bcf, and much colder temperatures are being forecast for the winter, beginning this month. The National Oceanic and Atmospheric Association and The Weather Channel are calling for colder-than-average temperatures over the northern tier of states, from Washington state to northern New England.
“As it gets colder, people are forced to use the heater more, even in usually mild climate regions such as the Southwest and Southeast,” FTTN Interim CEO Robert Federowicz said. “We expect our natural gas plays to be in even more demand as inventories decrease.”
Industry researcher Seeking Alpha reports that expected frigid temperatures over key regions of the U.S. will lead to large withdrawals from natural gas inventories in the coming weeks, driving the price for natural gas to higher than expected levels.
First Titan Corp. is building a substantial collection of oil and natural gas properties and is dedicated to the continuing development of energy assets throughout North America alongside companies such as Continental Resources, Inc. (NYSE: CLR), Chesapeake Energy Corp. (NYSE: CHK), SandRidge Energy Inc. (NYSE: SD) and Ultra Petroleum Corp. (NYSE: UPL).
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
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.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
First Titan Corporation
Robert Federowicz, 941-753-4889
Interim CEO
info@firsttitancorp.com
