Published:
Trans Energy Begins Drilling Second Horizontal Well in Marcellus Shale
ST. MARYS, W.Va., Oct. 28 /PRNewswire-FirstCall/ -- Trans Energy, Inc.
(OTC Bulletin Board: TENG) announced today that it has begun drilling the Hart
#28H well inWetzel County, West Virginia. The Hart #28H will be drilled and
completed horizontally in the Marcellus shale, a prolific new "resource play"
in Appalachia, similar to the Barnett,Fayetteville and Haynesville Shales
which have grown to become a significant base of hydrocarbon reserves inthe
United States.
The Company plans to drill the vertical portion of the Hart #28H well to a
depth above the kick-off point and set casing. A second, larger rig will
follow-on to drill the horizontal portion at a depth of approximately 7,000
feet. The company's current plan calls for keeping the rigs drilling
continuously through 2009.
James K. Abcouwer, President and CEO of Trans Energy, said, "We have
to-date successfully drilled four vertical Marcellus wells. Beginning a
horizontal program is another significant step forward for Trans Energy to
properly develop its acreage position in northernWest Virginia. Our plans
call for a combination of verticals and horizontals to optimize the recovery.
This approach, along with the construction of our gas gathering pipelines with
multiple interstate pipeline connections, is the heart of our development
plan."
The company continues to expand its acreage position centered on the
Wetzel,Marion,Marshall, andDoddridge Counties area, which it believes to be
the heart of the most prolific Marcellus resource in Appalachia.
About Trans Energy, Inc.
Trans Energy, Inc. (OTC Bulletin Board: TENG) is an oil and gas
exploration and development company in the Appalachian Basin. Further
information can be found on the Company's website at www.transenergyinc.com .
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, 2007 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.
SOURCE Trans Energy, Inc.
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,OIL,OTC,PDT,OTC,WV-TransEnergy-drills
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