LAS VEGAS–(BUSINESS WIRE)–The midstream oil and gas sector is preparing for a coming wave of industry-wide mergers and acquisitions that could put a significant amount of valuable equipment on the market for sale at tremendous discount. This scenario is exactly what First Titan Corp. (OTCQB:FTTN) has been planning for with its value-based acquisition strategy that aims to refurbish and resell or lease the equipment to operators when the economic situation improves.
According to industry watchers, more than $150 billion worth of assets have been liquidated globally across the oil and gas business this year alone. Many of the deals have been happening with lightning speed. “If you wait for a deal to come to you, it’s already too late,” one prominent equity executive told a Wall Street Journal reporter.
“A unique, once-in-a-generation situation is rapidly unfolding,” said FTTN CEO Sydney Jim. “And FTTN is in an optimum position to take advantage of this great opportunity. Something like this – the chance to grab valuable assets and equipment for pennies on the dollar – doesn’t come along often. This validates our plan. Companies with the foresight to act now will be sitting pretty when oil and gas rebounds. The deals are out there and we’re going to aggressively pursue every opportunity available.”
In addition to equipment, FTTN continues to look for value-based properties and leases.
FTTN is building a competitive portfolio of oil and gas properties alongside companies such as Lucas Energy, Inc. (LEI), Earthstone Energy, Inc. (ESTE), Fieldpoint Petroleum Corp. (FPP) and Evolution Petroleum Corp. (EPM).
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com.
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.