Welcome!

News Feed Item

Trans Energy, Inc. Reports Company-Record Well Results In Marion And Marshall Counties, West Virginia

Freeland #2H Confirms High Flow Rates in Marion County

ST. MARYS, W.Va., Jan. 21, 2014 /PRNewswire/ -- Trans Energy, Inc. (OTCQB: TENG), a pure play Marcellus Shale exploration and production company, today announced 30 and 60-Day initial production (IP) results on the Freeland #2H in Marion County, West Virginia. The 30-day IP rate standardized for 1,000 feet of lateral set a new company record, despite being choked back.  Trans Energy further announced 30, 60 and 90-Day IP rates per 1,000 feet of lateral on the Martinez #1H in Marshall County, West Virginia.  This well set a new 30-day company record for standardized production after the first 60 days, despite also being choked back.

John G. Corp, President of Trans Energy, said, "Despite pipeline imposed constraints, the 30-day IP rates standardized for 1,000 feet of lateral once again came in at record levels, this time in Marion County. We believe that these results confirm our expectations that Marion County could exceed the already high rates of return we are seeing in Marshall and Wetzel Counties.  The Freeland #2H may be our best well to date, and the Martinez #1H is arguably our best well yet in Marshall County.  Our continued success demonstrates that we have a both an exceptional acreage position and a top-notch operational team."

30-Day Production Rate Standardized for 1,000 Feet of Lateral in Marion County Sets New Company Record

The 30-day IP rate for the Freeland #2H was 9,182 Mcfe/d and the well has an effective lateral length of 4,182 feet.  After standardizing the flow rate to a 1,000 foot lateral, the initial 30-day production rate from the Freeland #2H was 2,196 Mcfe/d. This standardized production rate for the Freeland #2H set a new company record.

These results occurred in spite of the fact that the well's flow rate was curtailed due to limitations imposed by the meter at the pipeline interconnect. In fact, the average daily rate for the second 30 days of production (days 31-60) on the Freeland #2H was higher than the average of the first 30 days of production. Moreover, when it was choked back further to allow the adjacent Freeland #1H to turn into sales, the well was producing at a 4-day average of 10,241 Mcfe/d, which represents a rate above the average for the first 60 days.

The horizontal wellbore was completed parallel to the Freeland #1H and both wells were hydraulically stimulated using substantially the same technique that the company used in the company's recent completions in Wetzel and Marshall Counties. 

30-Day Standardized Production Rate (Days 61-90) Sets Company Record in Marshall County

The Martinez #1H was also choked back due to constraints imposed at the pipeline interconnect, in this case by the dehydration unit placed on site by the pipeline operator. Despite this limitation, the well has produced approximately 6,096 Mcfe/d over the first 90 days. When standardized to a 1,000 foot lateral length, for each of the first three 30-day periods (days 1-30, 31-60 and 61-90), the Martinez #1H delivered average 30-day IP rates of 1,594 Mcfe/d, 1,587 Mcfe/d and 1,508 Mcfe/d, respectively. The standardized production rate for the Martinez #1H for days 61-90 represents the highest standardized production rate for any of the Company's wells during a comparable period.

The effective lateral length was 3,900 feet and the total 30-day IP rate was 6,217 Mcfe/d. The horizontal wellbore was not completed parallel to any directly adjacent horizontal wellbores, but was hydraulically stimulated using substantially the same technique that the company used in its other recent completions. 

Corp commented, "Despite being choked back, and without the potential benefit from having another well fracked only 500 feet away, this well continues to deliver very strong results. The Martinez #1H set a new company record for standardized production rates beyond 60 days. It further confirms that we can deliver consistently high rates of return across our entire three county acreage position."

The data in the table below demonstrate the 30, 60 and 90-day IP rates for the company's recent completions, as compared to the average of the 30, 60 and 90-day IP rates for previous completions in Marshall and Wetzel Counties. 




Actual IP Rates 


Effective


Standardized IP Rates






Avg. Mcfe/d by Days


Lateral


Avg. Mcfe/d by Days




Well


1-30


31-60


61-90


Length (ft.)


1-30


31-60


61-90


Rank




















Freeland 2H (a)


9,182


9,494


N/A(b)


4,182


2,196


2,270


N/A(b)


1


Anderson 5H


9,765


8,111


7,216


4,980


1,961


1,629


1,449


2


Doman 1H


6,390


5,484


4,977


3,420


1,868


1,604


1,455


3


Dewhurst 110H


7,173


6,359


5,834


4,000


1,793


1,590


1,459


4


Martinez 1H(c)


6,217


6,191


5,881


3,900


1,594


1,587


1,508


5


Dewhurst 111H


8,637


7,607


6,915


5,521


1,564


1,378


1,252


6


Doman 2H


5,573


4,666


4,195


3,427


1,626


1,362


1,224


7


Anderson 7H


7,130


6,177


5,618


5,470


1,303


1,129


1,027


8




















Previous Marshall County Avg.(d)


4,060


3,755


3,517


4,009


1,007


931


871






















Doman Pad Site Average


5,982


5,075


4,586


3,424


1,747


1,483


1,340






















Anderson Pad Site Average


8,448


7,144


6,417


5,225


1,632


1,379


1,238






















Dewhurst Pad Site Average


7,905


6,983


6,375


4,761


1,679


1,484


1,355








































(a)Flow rates on the Freeland 2H reflect restricted volumes due to limitations imposed by the meter on the pipeline interconnect. 


(b)The Freeland 2H produced an average of 10,241 Mcfe/day during days 61-64, under restrictions, at which time it was further restricted to approximately 6,000 Mcfe/day to allow the Freeland 1H to begin producing into sales.


(c)Flow rates on the Martinez 1H reflect restricted volumes due to limitations imposed by the dehydration unit on the pad site.


(d)Reflects wells on the Whipkey, Stout, Keaton, Groves, Lucey and Goshorn pads.

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.

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 and 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, 2012 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. Corp
304-684-7053
www.transenergyinc.com

SOURCE Trans Energy, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists looked at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deliver...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), provided an overview of various initiatives to certify the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldwide re...
Both SaaS vendors and SaaS buyers are going “all-in” to hyperscale IaaS platforms such as AWS, which is disrupting the SaaS value proposition. Why should the enterprise SaaS consumer pay for the SaaS service if their data is resident in adjacent AWS S3 buckets? If both SaaS sellers and buyers are using the same cloud tools, automation and pay-per-transaction model offered by IaaS platforms, then why not host the “shrink-wrapped” software in the customers’ cloud? Further, serverless computing, cl...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
It is ironic, but perhaps not unexpected, that many organizations who want the benefits of using an Agile approach to deliver software use a waterfall approach to adopting Agile practices: they form plans, they set milestones, and they measure progress by how many teams they have engaged. Old habits die hard, but like most waterfall software projects, most waterfall-style Agile adoption efforts fail to produce the results desired. The problem is that to get the results they want, they have to ch...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, Doug Vanderweide, an instructor at Linux Academy, discussed why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers wit...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...