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Trans Energy, Inc. of St. Marys has secured $18 million credit for a 2007 drilling program in the region.
It is one of several producers going full-steam in the region.
Trans Energy has announced that it has begun drilling the Lyons #7,
the first of up to 35 wells the company plans to drill in its 2007 drilling
program.
Trans Energy has contracted with Union Drilling Company for an
RD-20 top-drive drilling rig for the balance of the year with an option to
extend through 2008.
The program will develop properties with proven
reserves in Wetzel, Marion and Tyler Counties.
Trans Energy, Inc. is an oil and gas
exploration and development company in the Appalachian Basin headquartered
in St Mary's, with offices in Parkersburg.
The company,
operating since 1994, restructured during 2006 with a new management
team, a focus on oil and gas development, and a business plan for rapid
growth.
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