Trans Energy completes first well in Marcellus Shale
  by: OilOnline
  Monday, June 23, 2008

Trans Energy, Inc. announced hat its Hart #20 well in Wetzel County, West Virginia was successfully completed on June 12 and company personnel were currently supervising the frac clean-up process and managing the initial flow to the field gathering line. The Hart #20 is completed in the Marcellus shale, a prolific new "resource play" in Appalachia, similar to the Barnett Shale which has grown to become a significant base of hydrocarbon reserves in Texas.

The Company is encouraged by the initial production. The well is continuing to purge water used in the frac process, and is producing gas at a volume and working pressure that indicates this development area may be among the most attractive parts of this new and substantial shale play.

James K. Abcouwer, President and CEO of Trans Energy, said, "This is a significant step for the company, drilling successfully to a horizon deeper than before and conducting the massive water-frac to unlock the Marcellus' gas reserves. The Marcellus is looking more and more like a Barnett-style significant play, covering a large area of western Pennsylvania and northern West Virginia. We are pleased to have achieved a sizeable acreage position centered on the Wetzel-Marion-Doddridge Counties area, which looks to be the heart of the most attractive Marcellus resource in Appalachia."

Abcouwer added that the company has its second Marcellus well completion scheduled for July on a well already drilled, and the company plans several more such wells in 2008 including at least two horizontal wells.

The Marcellus development in Wetzel County is being conducted by Trans Energy along with Republic Energy in a joint venture constructed for this express purpose. Republic is one of the most experienced and successful operators in the Barnett shale play in Texas. "We chose Republic because we didn't want to climb a steep learning curve, as we see many other local operators now doing. This has proved key to stepping-off with this initial success in the Marcellus. We look forward to ramping up our effort with Republic now and significantly increasing both our reserves and our production," added Abcouwer.

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