Trans Energy Begins Drilling Fourth Horizontal Marcellus Well In Marshall County WV
ST. MARYS, W.Va., Dec. 29 /PRNewswire-FirstCall/ -- Trans Energy, Inc. (OTC Bulletin Board: TENG) announced today that it has begun drilling the Whipkey #2H well in Marshall County, West Virginia. The Whipkey #2H will be drilled and completed horizontally in the Marcellus shale.
The Company has completed drilling the vertical portion of the Whipkey #2H well to a depth above the kick-off point of approximately 6,500 feet. A second, larger rig is currently arriving to drill the horizontal portion.
James K. Abcouwer, President and CEO of Trans Energy, said, "With the arrival of the larger drilling rig we plan to complete drilling horizontally both the Whipkey #1H and the Whipkey #2H, both of which are located on the same drilling pad.
We have to-date successfully drilled four vertical Marcellus wells. We have also successfully drilled and completed one horizontal Marcellus well, the Hart #28H, and partially drilled the vertical sections of three horizontal Marcellus wells, the Anderson #7H in Wetzel County and the Whipkey #1H and Whipkey #2H in Marshall County, West Virginia. Continuing our horizontal development program is another significant step forward for Trans Energy to properly develop its acreage position in northern West Virginia."The Company continues to expand its acreage position centered on Wetzel, Marion, and Marshall Counties in West Virginia, which it believes to be the heart of the most prolific natural gas resource in Appalachia, and one of the greatest in the United States. About Trans Energy, Inc. Trans Energy, Inc. (OTC Bulletin Board: TENG) is an oil and gas exploration and development company in the Appalachian Basin. Further information can be found on the Company's website at www.transenergyinc.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Forward-looking statements in this release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. Forward-looking statements in this document include statements regarding the Company's exploration, drilling and development plans, the Company's expectations regarding the timing and success of such programs. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company's oil and gas production, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. For a more detailed discussion of the risks and uncertainties of our business, please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed with the Securities and Exchange Commission. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. SOURCE Trans Energy, Inc.
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