Marcellus Shale: Trans Energy TENG drills first Well

Today, Trans Energy ( TENG ) has issued a release today stating they have drillied their first Marcellus Shale well.

TENG announced today that it has begun drilling the Anderson #7H well in Wetzel County, West Virginia. The Anderson #7H will be drilled and completed horizontally 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 plans to drill the vertical portion of the Anderson #7H 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 northern West 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, and Doddridge Counties area, which it believes to be the heart of the most prolific Marcellus resource in Appalachia.