Trans Energy, Inc. Reports Production Results On Doman Wells In Marshall
County, West Virginia
Adjusted 30-Day IP Rates Place the Doman Wells Among the Company's Top
Performing Horizontal Marcellus Wells
Improved Drilling and Completion Techniques Delivering Consistent, Superior
ST. MARYS, W. Va., March 7, 2013
ST. MARYS, W. Va., March 7, 2013 /PRNewswire/ --Trans Energy, Inc. (OTCQB:
TENG), a pure play Marcellus Shale exploration and production company, today
announced 30-Day initial production (IP) results on the Doman #1H and Doman
#2H in Marshall County, West Virginia.
30-Day Production Rates Set New Record For Company's Wells in Marshall County
Initial 30-day production rates from the Doman #1H and Doman #2H averaged
6,421 Mcfe/d and 5,567 Mcfe/d, respectively. The two Doman horizontal
wellbores are parallel to one another and were hydraulically stimulated using
the same technique as the company used in its recent completions in Wetzel
County. The effective lateral lengths that were hydraulically stimulated in
the Doman #1H and the Doman #2H were 3,420 feet and 3,427 feet, respectively.
Adjusted 30-Day Production Rates Set New Record Average For Single Trans
Energy Pad Site
When adjusted based on their effective lateral lengths, the average of the
30-day IP rates from the Doman #1H and the Doman #2H is superior to the
average of the comparable rates on either the Anderson or Dewhurst pad sites,
which are the locations of the company's recent record setting wells in Wetzel
County. The two previous best performing wells, located on those pads, had
set company records for both actual and adjusted 30-day IP rates.
The adjusted rates for the Doman #1H and the Doman #2H represent the second
and fourth best 30-day IP rates of any of the company's wells to date, and the
adjusted average for the Doman pad site exceeds the average for either the
Anderson or Dewhurst pad site, which had previously exhibited the company's
best performance to date.
The data in the tablebelow demonstrate the 30-day IP rates for the company's
recent completions, as compared to the average of the adjusted 30-day IP rates
for previous completions in Marshall and Wetzel Counties.
Well 30-Day IP Effective Lateral Adjusted 30-Day Rank
Rate Length IP Rate
Anderson 5H 9,765 4,980 1,961 1
Doman 1H 6,421 3,420 1,877 2
Dewhurst 110H 7,173 4,000 1,793 3
Doman 2H 5,567 3,427 1,624 4
Dewhurst 111H 8,637 5,521 1,564 5
Anderson 7H 7,130 5,470 1,303 6
Previous Marshall 4,060 4,009 1,007
Doman Pad Site 5,994 3,424 1,751
Anderson Pad Site 8,448 5,225 1,632
Dewhurst Pad Site 7,905 4,761 1,679
Anderson & Dewhurst 8,176 4,993 1,655
*Reflects wells on the Whipkey, Stout, Keaton, Groves, Lucey and Goshorn
John G. Corp, President of Trans Energy, said, "The Doman #1H and #2H are two
of our best performing wells to date. Thirty-day IP rates came in at record
levels, and we're seeing higher internal rates of return. Most important,
however, is the operational consistency we're starting to see across our
acreage positions in Marshall and Wetzel County as we have continued to
enhance our drilling and completion techniques. The results are slowly
starting to translate into, what we believe, is a manufacturing process across
Corp continued, "As we recently announced, our expanded credit facility
provides us with an additional twenty-five million dollars. Proceeds from this
facility will go toward further development of our Marcellus Shale acreage
position. In fact, we are in the process of deploying two additional rigs
that will soon begin drilling in Marshall and Marion counties. Upon
completion of these wells, one of the rigs will be redeployed to Tyler County,
West Virginia to begin drilling."
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
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.
John G. Corp
SOURCE Trans Energy, Inc.
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