Trans Energy Announces Production Results On Its Stout #2H Horizontal Marcellus Well And Provides Operational Update
ST. MARYS, W.Va., March 25, 2011 /PRNewswire/ -- Trans Energy, Inc. (OTC Bulletin Board: TENG) announced today that the first 30 days of production from its Stout #2H horizontal Marcellus well in Marshall County, West Virginia averaged 5,257 Mcfe per day and the rate of production on the 30th day was 4,677 Mcfe on a 25/64 choke.
The Company has completed the fracking of the Keaton #1H horizontal Marcellus well and is awaiting a pipeline connection and it is estimated that the Keaton #1H will be turned into a sales line around April 8.
The Company is currently fracking the Groves #1H horizontal Marcellus well and it is estimated that the Groves #1H will be turned into a sales line April 22. The Groves #1H was drilled with the longest lateral to date with a horizontal length of over 5,500 feet and is being completed with a 15 stage frac.
The Company currently estimates that it will frac the Lucey #1H horizontal Marcellus well the first week in May and be turned into a sales line by May 31.John G. Corp, President of Trans Energy, said, "We continue to develop our acreage position in the Marcellus shale. We have been pleased with our initial success and our thirty day initial production results speak for themselves. We continue to learn more about the Marcellus as we drill and complete more wells and hopefully that translates into better wells in the future. We look forward to getting started with our 2011 drilling program." 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, 2009 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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