This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Trans Energy, Inc. Reports Production Results On Anderson Wells In Wetzel County, West Virginia

Stock quotes in this article: TENG

ST. MARYS, W. Va., Nov. 27, 2012 /PRNewswire/ -- Trans Energy, Inc. (OTCQB: TENG), a pure play Marcellus Shale exploration and production company, today announced production results on the Anderson #5H and Anderson #7H in Wetzel County, West Virginia. 

30-Day Production Rate Sets New Company Record

Initial 30-day production rates from the Anderson #5H and Anderson #7H averaged 9,637 Mcfe/d and 7,095 Mcfe/d, respectively. The 30-day IP rate from the Anderson #5H represents a 26 percent increase compared to 30-day IP rate from the Dewhurst #111H – previously Trans Energy's best performing well in the Marcellus – and establishes the Anderson #5H well as Trans Energy's best performing horizontal Marcellus well to date. 

John G. Corp, President of Trans Energy, said, "Our core acreage position in the Marcellus continues to deliver better than expected results.  The Anderson #5H and #7H are two of our best performing wells to date.  As we continue to execute our drilling program across our more than 60,000 gross acres in Wetzel, Marshall, Tyler and Marion Counties, we believe that our drilling expertise, combined with the geology across our acreage position, will enable us to continue to deliver impressive results from our upcoming horizontal wells." 

The two Anderson horizontal wellbores are parallel to one another and were hydraulically stimulated at the same time.  The effective lateral lengths that were hydraulically stimulated in the Anderson #5H and the Anderson #7H were 4,980 feet and 5,470 feet, respectively.

Additional information regarding Trans Energy, including maps, investor presentations, news releases and videos can be found at the Company's new website www.transenergyinc.com.  Trans Energy will regularly update information on the website to provide investors with the most up to date information on the Company and its operations.  

About Trans Energy, Inc.

Trans Energy, Inc. (OTCQB: TENG) is a pure play Marcellus Shale oil and gas exploration and development company, headquartered 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, 2011 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.

Company contact: John G. Corp304-684-7053 www.transenergyinc.com

SOURCE Trans Energy, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,737.28 -67.43 -0.40%
S&P 500 1,934.11 -12.05 -0.62%
NASDAQ 4,389.1620 -32.9230 -0.74%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs