Business
FTTN: Service Firms Find New Ways to Work with E&P Companies, Making Sector a Better Bet
FTTN: Service Firms Find New Ways to Work with E&P Companies, Making Sector a Better Bet.
About this update from Globestar Therapeutics Corporation
[{"type":"text","content":"\n \n Low petroleum prices have forced exploration and production (E&P) \n companies and oil field service organizations to come up with dramatic \n new ways to profitably work together. First \n Titan Corp. (OTCBB: FTTN) has noticed \n this seismic relationship shift and believes it signals that the service \n industry is now not only becoming a strong place to invest in, but is \n also a new market worth exploring.\n \n \n Some industry watchers are seeing that service companies and E&Ps are \n developing working partnerships and moving away from adversarial \n relationships. A major reason is that each now \n realizes they need the other to survive the current downturn.\n \n \n As a result, E&Ps and service firms are collaborating more rather than \n each trying to gain the upper hand in contracts. The new working \n environment has \n produced more streamlined operations and this streamlining could \n ultimately lead to technological advances that will make even this \n current low-price environment profitable.\n \n \n “The oil field service industry is stronger than many casual observers \n think,” said FTTN CEO Sydney Jim. “Firms have developed far-sighted \n plans that could help them weather the present slowdown. Optimization \n is the new normal. We believe a strong opportunity exists here that \n others are missing. We are pursuing possibilities in equipment \n sales and refurbishment, but we’re also looking at service companies \n themselves. If we can find a suitable prospect, we’re open to entering \n this market.”\n \n \n Market forecasts predict oil \n field services to grow at a steady 5 percent compound annual rate \n through 2020.\n \n \n For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com.\n \n \n About First Titan Corp.\n \n \n First Titan Corp., through its wholly owned subsidiary, First Titan \n Energy, LLC, is committed to the exploration and development of oil and \n natural gas resources around the globe. The Company continually seeks to \n partner with energy developers that are pursuing innovative new methods \n of oil and gas extraction, including the development of new \n technologies, cleaner methods and unconventional resources.\n \n \n Notice Regarding Forward-Looking Statements\n \n \n Safe Harbor Stateme...