Trans Energy Reports Production Results on Doman Wells

Source: www.gulfoilandgas.com 3/7/2013, Location: North America

Trans Energy, Inc., a pure play Marcellus Shale exploration and production company, 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 table below 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.

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 this acreage.

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."

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