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
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
SYS-CON Events announced today that CAST Software will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CAST was founded more than 25 years ago to make the invisible visible. Built around the idea that even the best analytics on the market still leave blind spots for technical teams looking to deliver better software and prevent outages, CAST provides the software intelligence that matter ...
As more and more companies are making the shift from on-premises to public cloud, the standard approach to DevOps is evolving. From encryption, compliance and regulations like GDPR, security in the cloud has become a hot topic. Many DevOps-focused companies have hired dedicated staff to fulfill these requirements, often creating further siloes, complexity and cost. This session aims to highlight existing DevOps cultural approaches, tooling and how security can be wrapped in every facet of the bu...
yperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let’s say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it....
SYS-CON Events announced today that Pulzze Systems will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems Inc, provides the software product "The Interactor" that uniquely simplifies building IoT, Web and Smart Enterprise Solutions. It is a Silicon Valley startup funded by US government agencies, NSF and DHS to bring innovative solutions to market.
With Cloud Foundry you can easily deploy and use apps utilizing websocket technology, but not everybody realizes that scaling them out is not that trivial. In his session at 21st Cloud Expo, Roman Swoszowski, CTO and VP, Cloud Foundry Services, at Grape Up, will show you an example of how to deal with this issue. He will demonstrate a cloud-native Spring Boot app running in Cloud Foundry and communicating with clients over websocket protocol that can be easily scaled horizontally and coordinate...
In his session at @ThingsExpo, Dr. Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, presented the findings of a series of six detailed case studies of how large corporations are implementing IoT. The session explored how IoT has improved their economic performance, had major impacts on business models and resulted in impressive ROIs. The companies covered span manufacturing and services firms. He also explored servicification, how manufacturing firms shift from se...
SYS-CON Events announced today that Elastifile will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Elastifile Cloud File System (ECFS) is software-defined data infrastructure designed for seamless and efficient management of dynamic workloads across heterogeneous environments. Elastifile provides the architecture needed to optimize your hybrid cloud environment, by facilitating efficient...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, discussed how AI can simplify cloud operations. He covered the following topics: why cloud mana...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
SYS-CON Events announced today that Golden Gate University will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Since 1901, non-profit Golden Gate University (GGU) has been helping adults achieve their professional goals by providing high quality, practice-based undergraduate and graduate educational programs in law, taxation, business and related professions. Many of its courses are taug...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale.
Vulnerability management is vital for large companies that need to secure containers across thousands of hosts, but many struggle to understand how exposed they are when they discover a new high security vulnerability. In his session at 21st Cloud Expo, John Morello, CTO of Twistlock, will address this pressing concern by introducing the concept of the “Vulnerability Risk Tree API,” which brings all the data together in a simple REST endpoint, allowing companies to easily grasp the severity of t...