Oil and gas explorer First Titan (FTTN) is currently perforating the Louisiana well to test production levels.

The well, which is expected to be producing full-time within the near future, is believed to have the potential to produce four million barrels of oil and 60 billion cubic feet of gas.

FTTN, which is entering the final stages of testing before going online for initial production, said that blow out preventers have been tested.

FTTN interim CEO Robert Federowicz said that the company will know the well potential after perforation.

"Based on the evaluation of the operator, we are extremely optimistic this is going to be a strong producing well with the possibility of being our best producing asset," Federowicz added.

FTTN is currently developing energy assets throughout North America alongside firms like Continental Resources, Chesapeake Energy, SandRidge Energy and Ultra Petroleum.