Trans Energy Announces Production Results On Its Whipkey #2H Horizontal Marcellus Well And Provides Operational Update
ST. MARYS, W.Va., July 14 /PRNewswire-FirstCall/ -- Trans Energy, Inc. (OTC Bulletin Board: TENG) announced today that the first 30 days of production from its Whipkey #2H horizontal Marcellus well in Marshall County, West Virginia averaged 4,450 Mcfe per day.
Additionally, as of July 10, the Company initiated the process of drilling out the final plugs used during the completion process of the Whipkey #1H horizontal Marcellus well. The Whipkey #1H is on the same pad site as the Whipkey #2H and was drilled with a horizontal lateral of over 3,000 feet and was completed with a 12 stage frac.
The Company's first horizontal Marcellus well, the Hart #28H in Wetzel County, West Virginia, was, according to records required to be filed with the West Virginia Department of Oil and Gas, the 12th highest producing natural gas well in the State of West Virginia in 2009 out of more than 49,174 producing natural gas wells. The Hart #28H was turned into a sales line on April 13, 2009.
John G. Corp, President of Trans Energy, said, "We have recently received a drilling permit for the Stout #2H horizontal Marcellus well in Marshall County, West Virginia and have finished clearing and preparing the drilling location and are scheduled to begin drilling in August. We have also received drilling permits for the Groves #1H and Keaton #1H sites, both of which are also in Marshall County, West Virginia. We continue to move forward with our plan to rapidly develop our acreage position in the Marcellus shale along with our experienced partner."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, 2010 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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