Trans Energy Acquires Kansas Acreage, Plans 3-D Shoot
Trans Energy, Inc. said that it has acquired a 75% interest in 3,120 acres of oil and gas leases in Trego County, Kansas.
Permitting for the 3-D seismic shoot is currently underway. Completion of the physical shoot is expected to be done by end of the first quarter of 2007, followed by the analysis and interpretation in the second quarter that will determine the number of potential drilling locations.
James K. Abcouwer, President and CEO of Trans Energy, said the acquisition of the Kansas acreage is opportunistic in nature and not a shift in the Company's commitment and focus in oil and natural gas exploration and development in the Appalachian Basin.
"The Kansas acreage presented itself to us from a long-standing relationship of the Company and provided an opportunity for Trans Energy to participate in a proven oil-producing area coupled with state of the art 3-D seismic useful in identifying sub surface features that cannot be identified by any other method," said Abcouwer. "Once the results of the 3-D seismic are complete, we will decide whether to go forward with a developmental drilling program or divest all or part of our interest."
Trans Energy, Inc. s an oil and gas exploration and development company in the Appalachian Basin.
- Trans Energy Posts Production Results for Groves Well (May 23)
- Trans Energy Completes Frac Ops at Marcellus Well (Apr 08)
- Trans Energy Notes Production Results at Marcellus Well (Mar 25)