Tag Archives: Logan County

FTTN's Horizontal Well Speeds Toward Completion

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FTTN’s Horizontal Well Speeds Toward Completion

BRADENTON, Fla.–(BUSINESS WIRE)– First Titan Corp. (OTCBB: FTTN) issued an update today on its horizontal well prospect in Logan County, Okla. The company reports that the first stage of a two-stage completion process has been completed.

After hitting the production zone with 4000 gallons of hydrochloric acid, workers are now pumping out the stimulation fluid from the well. In the second stage of completion, the zone will be fractured with a nitrogen foam acid.

Known as Breaux #2, the horizontal well has been engineered by its sponsor, Bedford Energy, Inc., with a reserve report that includes proven reserves of 160,000 barrels of oil and 1.5 billion cubic feet of natural gas, based on nearby wells. FTTN estimates that it could produce more than $14 million worth of resources.

Breaux #2 is one of many oil and gas assets across the U.S. in which FTTN owns a working interest. Drilling preparations are now underway at the company’s lease near South Lake Charles, La., and FTTN expects to dramatically increase its deal activity in the coming weeks as it pursues an aggressive expansion strategy.

FTTN is dedicated to continuing development of energy assets throughout the country, alongside companies such as Continental Resources, Inc. (NYS: CLR) , Chesapeake Energy Corp. (NYS: CHK) , SandRidge Energy Inc. (NYS: SD) and Ultra Petroleum Corp. (NYS: 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.

For more information about First Titan Energy, please visit www.firsttitanenergy.com. Follow us on Twitter at www.twitter.com/firsttitancorp.

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

From: http://www.dailyfinance.com/2013/04/18/fttns-horizontal-well-speeds-toward-completion/

FTTN Explores Mergers & Acquisitions as a New Expansion Strategy

By Business Wirevia The Motley Fool

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FTTN Explores Mergers & Acquisitions as a New Expansion Strategy

BRADENTON, Fla.–(BUSINESS WIRE)– With two new oil wells scheduled to begin producing in the coming weeks, 2013 is set to be a year of major growth for First Titan Corp. (OTCBB: FTTN). The company announced today that it is now pursuing new asset acquisitions and corporate mergers to facilitate additional expansion this spring.

“While we continue to build our oil and gas asset base, we are evaluating ancillary assets such as transportation infrastructure, marketing platforms and technological innovations that would further compliment the FTTN portfolio,” said CEO Harvey S. Bryant. “We’re particularly interested in working with individuals and companies who own oil and gas assets who would benefit from our development assistance and access to the public markets.”

First Titan is currently evaluating several oil and gas asset acquisitions in Texas as potential additions to the working interests that FTTN currently owns. Drilling preparations are now underway at the company’s lease near South Lake Charles, La., and its horizontal well prospect in Logan County, Okla., is rigged up and ready for completion. FTTN expects to dramatically increase its deal activity in the coming weeks as these projects begin to pay off for the company.

FTTN is dedicated to continuing development of energy assets throughout the country, alongside companies such as Continental Resources, Inc. (NYS: CLR) , Chesapeake Energy Corp. (NYS: CHK) , SandRidge Energy Inc. (NYS: SD) and Ultra Petroleum Corp. (NYS: 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.

For more information about First Titan Energy, please visit www.firsttitanenergy.com. Follow us on Twitter at www.twitter.com/firsttitancorp.

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of …read more

Source: FULL ARTICLE at DailyFinance

Osage Exploration and Development Announces Doubling of Credit Facility with Apollo Investment Corpo

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Osage Exploration and Development Announces Doubling of Credit Facility with Apollo Investment Corporation

$20 Million Facility Funds 2013 Capex Budget

SAN DIEGO–(BUSINESS WIRE)– Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today that it has increased its existing drawdown credit facility with Apollo Investment Corporation (NASADQ:AINV) from $10 million to $20 million. The proceeds from the expanded facility will fully fund the Company’s planned 2013 capital expenditures in its Nemaha Ridge project in Logan County, Oklahoma.

Management Comments

Mr. Kim Bradford, Chairman and CEO of Osage Exploration, commented, “Our lender, Apollo Investment Corporation, has been extremely supportive of our activities in Logan County over the last year. Since our initial agreement in April of 2012, Apollo made it clear to us that early success would translate into an expanded facility whenever Osage was ready. With the revenues from our first three wells surpassing the capital invested in those wells, Osage has amply demonstrated that we have the ability to efficiently invest drilling capital. Now that we are drilling at a pace well above of our initial goal of two wells per month, doubling the existing facility is the prudent move to make. We have eight wells in various stages of production, six more in flowback, three drilled and awaiting fracture stimulation, and three rigs drilling new wells now.

“Earning the confidence of one of the premiere private equity firms in the world and quickly achieving meaningful results sets us apart from our micro-cap peers. Our objective is to drill the Nemaha Ridge acreage into the Proved Producing reserve category as expeditiously as possible. With Apollo’s support we have the ability to do so while still maintaining tremendous financial flexibility going forward.”

Mr. Bradford continued, “I am extremely proud of the performance that the Osage team, our Operating partners, and our financial partners are realizing. Our challenge has been to transition from a one well per quarter project into executing an efficient, high rate sequential drilling plan. Together we have accomplished that operationally and financially in a seamless fashion.”


About Osage Exploration and
…read more

Source: FULL ARTICLE at DailyFinance

Osage Exploration and Development Announces Record Annual Revenues, Production, and Reserves

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Osage Exploration and Development Announces Record Annual Revenues, Production, and Reserves

SAN DIEGO–(BUSINESS WIRE)– Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today its financial and operational results for the full year 2012. Year-over-year highlights from Osage Exploration and Development include:

  • 74% increase in total revenues from $3,515,723 to $6,120,024;
  • 107% improvement in oil sales from $1,920,834 to $3,973,666; and,
  • 107% growth in annual oil production from 19,162 Bbls in 2011 to 39,684 Bbls.

The full text of the Company’s Form 10-K for 2012 is available on the SEC EDGAR system or on Osage’s website: http://www.osageexploration.com.

Drilling Status

The Company’s previously announced accelerated drilling program is proceeding ahead of initial estimates. Initially planning to drill two wells per month, Osage and its partners have spud ten wells to date in 2013, fully 50% ahead of the planned pace. Currently, there are eight wells in production and an additional twelve wells in various stages of drilling, completion, and flowback. Osage and its partners are employing two rigs full-time, and are utilizing a third rig opportunistically.

Quarterly Production

Since the commencement of production in the Company’s Nemaha Ridge project in Logan County, Oklahoma, average daily production net to Osage has increased 115% from 112 Boe/d in the second quarter of 2012 to 241 Boe/d in the first quarter of 2013.

Reserve Report

Osage’s third party independent reserve engineer, Pinnacle Energy Services, provided a year-end reserve report on the Company’s oil and gas assets in Logan County, Oklahoma. The report is based on the first five Proved Developed Producing locations (PDP), three Proved Developed Not Producing locations (PDNP), nine reported Proved Undeveloped (PUD) well locations, and 370 Non-Proved (NP) locations. The Estimated Ultimate Recovery (EUR) per PUD location is approximately 285,000 Boe. The product mix is estimated to be 60% crude oil and 40% natural gas. Based on Pinnacle’s report, Osage’s Nemaha …read more
Source: FULL ARTICLE at DailyFinance

FTTN Hires Energy Consultants to Scout High-Potential Oil & Gas Targets

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FTTN Hires Energy Consultants to Scout High-Potential Oil & Gas Targets

BRADENTON, Fla.–(BUSINESS WIRE)– First Titan Corp. (OTCBB: FTTN) announced today that it has hired Pimuro Capital Partners, LLC, to source and evaluate high-potential oil and gas opportunities on behalf of the company.

Pimuro Capital Partners possesses strong business ties throughout the U.S. energy sector and will provide a broad base of services to FTTN. The firm’s principles have previously advised companies including ConocoPhillips, Marubeni Corporation, PetroSA, Cygnus Oil & Gas, McMoRan Exploration Co., Chevron, Sojitz, RepsolYPF and Cano Petroleum, Inc. The firm specializes in assisting companies seeking merger and acquisition advisory, general corporate finance advisory and private capital raise services.

“Pimuro will assist FTTN with sourcing and analyzing promising new opportunities as the company works to increase its oil and gas asset base in this booming industry,” said FTTN CEO Harvey S. Bryant. “Pimuro may also assist FTTN in sourcing capital to further propel the company’s growth.”

Pimuro’s assistance may soon prove invaluable as FTTN pursues a highly ambitious plan for growth in 2013. The company’s well in Alabama’s Little Cedar Creek Field is already operating at maximum permitted output, and work is now underway in Logan County, Okla., where the company is completing its horizontal well prospect. Additionally, drilling preparations have begun at the company’s lease near South Lake Charles, La.

Regardless of the high-level of activity being undertaken by the company currently, FTTN isn’t slowing down. The company is dedicated to continuing development of energy assets throughout the country, alongside companies such as Continental Resources, Inc. (NYS: CLR) , Chesapeake Energy Corp. (NYS: CHK) , SandRidge Energy Inc. (NYS: SD) and Ultra Petroleum Corp. (NYS: 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.

For more information about First Titan Energy, please visit www.firsttitanenergy.com. Follow us on Twitter …read more
Source: FULL ARTICLE at DailyFinance

Outhouses pit Amish against Ohio county health department

Over the pleas of the local Amish community, a northwest Ohio health board decided to go ahead with plans to condemn two newly constructed Amish homes because they don’t have required septic systems for their outhouses.

More than 100 Amish turned out Tuesday night to ask the Kenton-Hardin County Board of Health to reconsider the condemnation order, which requires that the homes be brought into compliance or the families move out.

Last summer, the health board said it would start enforcing rules that any new home must have a proper well and septic system — something the simple-living, outhouse-using Amish have never had to do. Health inspectors have not forced existing Amish homes to change. Around 200 Amish families live in Hardin County.

At issue are rules that require concrete, watertight pits under outhouses and the waste hauled away. The Amish, who turn their backs on modern technology, want to continue digging their own pits and spreading the waste on the land.

The Columbus Dispatch reported that on Tuesday night, Henry Yoder read a letter signed by the Hardin County Amish community’s seven bishops asking the board to reconsider its orders. Yoder owns one of the houses that are not in compliance.

“Our goal is to uphold and maintain the biblical principles of faith which our forefathers believed: to be a separate people,” Yoder read. “And, as stated in Romans 12th chapter, `Be ye not conformed … ‘.”

County Prosecutor Brad Bailey said the issue is bigger than just two homes. Leeching and contamination from the human waste and bad wells can reach the water table and hurt others, he said.

“Our rules at the health department are to prevent problems before they happen, not to react to them,” he said.

After more than two hours of testimony from health officials, the board’s eight members didn’t change their minds. They reaffirmed the orders to condemn the homes that they initially issued in January.

Now, the families can dig proper wells and install approved concrete pits under their outhouses, appeal the orders to the Hardin County Common Pleas Court, or move.

“Our goal is to live simple, God-fearing lives, and we feel your requirements are undermining our simple way of life,” Yoder said, reading from the bishops’ letter. “Our plea is to live in peace among our fellow citizens and maintain our lifestyles on our own personal properties unless it is definitely proven we are a health hazard to our neighbors.”

All other Ohio counties with an Amish population have long ago settled similar disputes. Logan County, for example, agreed to let the Amish build their own pits as a compromise. Holmes County, with the state’s largest Amish population, says the Amish follow the rules.

…read more
Source: FULL ARTICLE at Fox US News

Prep Work Begins at FTTN's Louisiana Drilling Site

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Prep Work Begins at FTTN’s Louisiana Drilling Site

BRADENTON, Fla.–(BUSINESS WIRE)– First Titan Corp. (OTCBB: FTTN), a fast-growing domestic energy company, announced today that drilling preparations are now underway at the company’s lease near South Lake Charles, La.

The South Lake Charles prospect is one of two working interests that FTTN owns in Louisiana, one of the nation’s top energy producing states. Two wells have produced 21.3 billion cubic feet of gas and 1.7 million barrels of oil in the South Lake Charles field. There is a proved trapping fault block on the west flank of the field, up-dip to production.

Currently, FTTN and its partners are standing by while the site is cleared and leveled, access roads are completed, water is sourced, and a reserve pit is dug. When that’s complete, work will begin to rig up the location. FTTN expects drilling to begin next month.

The South Lake Charles site is one of numerous prospective wells in which FTTN owns a working interest across the U.S. Last week, the on-site drilling rig touched bottom at 7,300 feet on the partially drilled well at FTTN‘s lease in Logan County, Okla. The company expects to have three wells producing across the country in a matter of weeks—an important milestone in FTTN‘s ambitious domestic energy plans.

FTTN is dedicated to developing new energy solutions to compete in a booming global industry alongside Continental Resources, Inc. (NYS: CLR) , Chesapeake Energy Corp. (NYS: CHK) , SandRidge Energy Inc. (NYS: SD) and Ultra Petroleum Corp. (NYS: 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.

For more information about First Titan Energy, please visit www.firsttitanenergy.com. Follow us on Twitter at www.twitter.com/firsttitancorp.

Notice Regarding Forward-Looking Statements

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Source: FULL ARTICLE at DailyFinance

FTTN's Horizontal Well is Rigged Up and Ready for Completion

By Business Wirevia The Motley Fool

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FTTN’s Horizontal Well is Rigged Up and Ready for Completion

BRADENTON, Fla.–(BUSINESS WIRE)– First Titan Corp. (OTCBB: FTTN) announced today that its horizontal well prospect in Logan County, Okla., is now rigged up and ready to complete.

Known as Breaux #2, the well has been engineered by its sponsor, Bedford Energy, Inc., with reserve report that includes proven reserves of 160,000 barrels of oil and 1.5 billion cubic feet of natural gas, based on nearby wells. The company estimates that it could produce more than $14 million worth of resources.

FTTN acquired a working interest in Breaux #2 last year.

This week, the on-site drilling rig touched bottom at 7,300 feet on the partially drilled well. The next step will be to begin work on the lateral hole and inserting pipe.

Executives expect that it will be an exciting spring for the company, with FTTN‘s lease near South Lake Charles, La., is now being prepped for drilling, as well.

FTTN expects to have three wells producing across the U.S. shortly. It’s only the beginning of the company’s ambitious domestic energy plans.

FTTN is dedicated to developing new energy solutions to compete in a booming global industry alongside Continental Resources, Inc. (NYS: CLR) , Chesapeake Energy Corp. (NYS: CHK) , SandRidge Energy Inc. (NYS: SD) and Ultra Petroleum Corp. (NYS: 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.

For more information about First Titan Energy, please visit www.firsttitanenergy.com. Follow us on Twitter at www.twitter.com/firsttitancorp.

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 …read more
Source: FULL ARTICLE at DailyFinance

Osage Exploration and Development Announces IP Rate on Horizontal Mississippian Well

By Business Wirevia The Motley Fool

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Osage Exploration and Development Announces IP Rate on Horizontal Mississippian Well

SAN DIEGO–(BUSINESS WIRE)– Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today a one day peak IP on the Tontz 1-32H of 642 BOE. The product mix from the well, located in Section 32-17N-3W, contains approximately 84% crude oil. Osage owns 8.88% of the well, which is operated by Stephens Production Company.


Management Comments

Regarding the initial production result on the Tontz 1-32H, Osage’s Chairman and CEO, Mr. Kim Bradford stated, “The Tontz 1-32H, located in the heart of Osage’s acreage block in Logan County, is yet another data point to support our geological thesis that Logan County is among the best Mississippian acreage in the play. Superb well results are being achieved by multiple operators in the area, and as we continue to execute our accelerated drilling program, Osage will be participating opportunistically in wells in addition to those drilled by our Project Operator, Slawson Exploration. Owing to this strategy, in February Osage participated in three wells. In March, we are participating in four gross wells. Our top priority is to deliver a very high return to our shareholders by developing this asset efficiently.”


About Osage Exploration and Development, Inc.

Based in San Diego, California, with production offices in Oklahoma City, Oklahoma, and executive offices in Bogotá, Colombia, Osage Exploration and Development, Inc. is an independent exploration and production company with interests in oil and gas wells and prospects in the U.S. and Colombia. http://www.osageexploration.com


About Slawson Exploration Company, Inc.

Headquartered in Wichita, Kansas, with regional offices in Denver, Houston, and Oklahoma City, Slawson began oil and gas exploration in 1957. http://www.slawsoncompanies.com/exploration.html


About
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Source: FULL ARTICLE at DailyFinance

FTTN: Work Set to Begin This Week on Horizontal Well Completion

By Business Wirevia The Motley Fool

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FTTN: Work Set to Begin This Week on Horizontal Well Completion

BRADENTON, Fla.–(BUSINESS WIRE)– First Titan Corp. (OTCBB: FTTN), an energy development company that owns stakes in prospective oil and gas wells across the Southern U.S., announced today that plans call for work to begin this week on the completion of its horizontal well prospect in Logan County, Okla.

It’s big news for FTTN. The company estimates its potential production at more than $14 million worth of resources. The well, known as Breaux #2, has been engineered by its sponsor, Bedford Energy, Inc., with reserve report that includes proven reserves of 160,000 barrels of oil and 1.5 billion cubic feet of natural gas, based on nearby wells.

“We expect Breaux #2 to be a good producer for us,” said FTTN CEO Harvey S. Bryant. “All of the reporting has been tremendously positive. All that remains now is to complete the well.”

FTTN acquired a working interest in Breaux #2 last year. The well was previously drilled to a vertical depth of 5,456 feet with a lateral bore length of 2,704, and is ready for completion.

2013 is shaping up to be an exciting year for FTTN. The company’s lease near South Lake Charles, La., is now being prepped for drilling, as well.

“We’ve got many more projects in the pipeline to follow,” Bryant said. “We feel that market conditions are very favorable for us at the moment, and we’re working hard to capitalize.”

FTTN is dedicated to developing new energy solutions to compete in a booming global industry alongside Continental Resources, Inc. (NYS: CLR) , Chesapeake Energy Corp. (NYS: CHK) , SandRidge Energy Inc. (NYS: SD) and Ultra Petroleum Corp. (NYS: 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.

For …read more
Source: FULL ARTICLE at DailyFinance