Trans Energy Inc
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St. Marys, West Virginia-based Trans Energy Inc. (OTCBB: TENG) is an oil and gas exploration and development company focusing on the Appalachian Basin. It operates more than 300 wells in Marshall, Wetzel and Marion counties (shallow) in West Virginia. It has roughly 40,000 acres under lease.
By August, 2008, Trans Energy had drilled four vertical Marcellus shale wells. The Anderson-7H well, located near Jacksonburg in Wetzel County, West Virginia was its first horizontal one. As of December, 2009, Trans Energy was in the process of drilling its fourth horizontal well.
In October, 2008 the company announced it was drilling its second horizontal well in Wetzel County named Hart #28H also near Jacksonburg. The vertical part of the well was to be drilled down to just above a kickoff point about 6500 feet and set casing. A larger rig was then to be brought in to drill the horizontal portion at a depth of around 7,000 feet. It was announced in April, 2009 that this well had been completed and was being turned into the gas sales line. The same report indicated that the next horizontal well the company planed to complete was the aforementioned Anderson-7H.
The company announced that a third vertical Marcellus well, the Dewhurst #73, located on Arches Fork off W.Va. 20 in Wetzel County, had been completed on December 16, 2008 with positive results. It was promptly hooked up to gas lines.
In early January, 2009 the company announced a forth vertical Marcellus well, the Blackshere #101, in Marion County just east of Wetzel County, had been successfully fraced at the end of December and was in the process of being hooked up to a gas line.
Another horizontal well was announced in November, 2009. It was the Whipkey #1H located in Marshall County, West Virginia. It was to be drilled to a kickoff point at a depth of 6,500 feet. A second larger rig was to drill the horizontal portion. This was Trans Energy's first horizontal Marcellus shale well in Marshall County.
By December, 2009 Trans Energy was drilling its fourth horizontal well in Marshall County, WV, the Whipkey #2H. Once again it was to be taken to a depth of 6,500 feet and then a larger rig brought in to drill the horizontal leg. The same rig was used to drill laterals for each of the Wipkey wells as both were located on the same pad.
In July, 2010, the company announced the results of completing Whipkey #2H. During its first 30 days of production, the well had produced an average of 4.45 Mmcfe/d. The horizontal well had a lateral 3,000 feet long with a twelve stage frac. Trans Energy also noted that it had received 3 additional drilling permits for Marcellus shale wells: these were to be named Groves #1H, Keaton #1H and Stout #2H.
In a second July, 2010, press release, Trans Energy announced that it was expanding its joint venture with Republic Energy Ventures, LLC into Marion and Tyler counties, West Virginia. Republic purchased a 50% interest in roughly 5,000 acres in Marion Co. and 2,600 in Tyler. It also purchased a small overriding royalty on 6,000 acres in Wetzel Co. The total purchase price amounted to $23,500,000 cash and drilling credits of $3,500,000.
The company owns drilling rights to 26,000 acres in four northern West Virginia counties: Doddridge, Marion, Marshall, and Wetzel. It operates 271 wells in the State.
Trans Energy was in the process of building a system of gas gathering pipelines that was to connect to interstate pipelines.
- John G. Corp is President of Trans Energy.
- Lisa Corbitt is company CFO.
- Mark Woodburn is the Land Department Manager.
