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THE FERGUSON DECISION

THE FERGUSON DECISION

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Trans Energy to sell assets in Tyler Co.

Updated: Wednesday, October 2 2013, 03:47 PM EDT

By: The Associated Press

ST. MARYS, W.Va. –

Trans Energy Inc. is selling an unfinished horizontal Marcellus shale well and other assets in Tyler County for about $11 million.

Trans Energy said Wednesday that the sale is expected to close before the end of the year. The company didn't identify the buyer.
   
Other assets being sold are two pad sites and 1,163 acres in the county.
   
Trans Energy President John Corp says in a news release that the sale's proceeds will be allocated toward development of the company's core acreage positions in Marshall, Wetzel and counties.
   
Corp says the company determined its acreage in Tyler County wasn't large enough to warrant spending additional resources.

Trans Energy to sell assets in Tyler Co.


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