First Titan, a natural gas and oil development company, announced today it is investigating investment opportunities in digital oilfield technology. The benefits that would be derived from investing in leading-edge oilfield performance analytics technology, the company notes, would be instrumental in bringing about operational effectiveness and efficiency and dramatic cost reduction.
“The advantage of this technology is the ability to process large volumes of data types at faster speeds than conventional technology,” FTTN Interim CEO Robert Federowicz said. “This is state-of-the-art technology that keeps us ahead of our competitors and will give us insights into exploration, development, drilling, and production operations quickly and accurately.”
Specifically, FTTN envisions the following benefits resulting from the incorporation of digital oilfield technology in day-to-day operations:
• Operational efficiency
• Enhanced production via reduced downtime
• Notable cost reduction
• Decreased lead time for oil excavation with optimized drilling and workover operations
• Key oilfield insights such as identification of environmental features of a subsurface deposit and facies, reservoir dynamics, or drilling and completion best practices across like-kind oil reservoirs
Through its wholly owned subsidiary, First Titan, LLC, FTTN continues to look for opportunities to expand to its portfolio of oil and natural gas properties and strategic, profitable development of its held energy assets. For full operational effectiveness and efficiency, it looks for partnerships with other energy developers that incorporate unconventional, more eco-friendly, or new innovative technologies or methods in their energy asset development efforts.
For more information, visit: www.firsttitanenergy.com
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