XML 21 R8.htm IDEA: XBRL DOCUMENT

Operations	3 Months Ended
Mar. 31, 2013
Operations [Abstract]
OPERATIONS	NOTE 2 — OPERATIONS Trans Energy has incurred cumulative operating losses through March 31, 2013, of $35,764,309. Although the prior year revenues were not sufficient to cover our operating costs and interest expense, the Company is focusing on drilling Marcellus Shale wells which based upon projections, are expected to increase cash flow. In February 2013, the Company obtained additional financing in the amount of $25 million to be used for capital expenditures. During the first quarter of 2013, we also increased operating revenues by selling the shallow wells owned by the Company. On January 24, 2013, the Company closed the sale of its interests in certain non-core assets for approximately $2,625,000 of net cash proceeds. The interests sold consisted of the Company’s working interest in all existing shallow wells, but the Company retained an overriding royalty interest of approximately 2.5% on most of the wells.

Operations

3 Months Ended

Mar. 31, 2013

NOTE 2 — OPERATIONS

Trans Energy has incurred cumulative operating losses through March 31, 2013, of $35,764,309. Although the prior year revenues were not sufficient to cover our operating costs and interest expense, the Company is focusing on drilling Marcellus Shale wells which based upon projections, are expected to increase cash flow. In February 2013, the Company obtained additional financing in the amount of $25 million to be used for capital expenditures. During the first quarter of 2013, we also increased operating revenues by selling the shallow wells owned by the Company. On January 24, 2013, the Company closed the sale of its interests in certain non-core assets for approximately $2,625,000 of net cash proceeds. The interests sold consisted of the Company’s working interest in all existing shallow wells, but the Company retained an overriding royalty interest of approximately 2.5% on most of the wells.