SUPPLEMENTARY INFORMATION ON OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2013

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Aggregate Capitalized Costs Relating to Trans Energy's Crude Oil and Natural Gas Producing Activities

Aggregate capitalized costs relating to Trans Energy’s crude oil and natural gas producing activities, including asset retirement costs and related accumulated depreciation, depletion, and amortization are as follows:

	As of December 31,
	2013			2012
Proved oil and gas producing properties and related lease, wells and equipment	$	79,358,623		$	69,270,310
Unproved Oil and Gas Properties		15,092,783			13,963,619
Accumulated Depreciation, Depletion and Amortization		(14,473,069	)		(28,194,422	)
Net Capitalized Costs	$	79,978,337		$	55,039,507

Costs Incurred in Oil and Gas Activities

Costs incurred in connection with Trans Energy’s crude oil and natural gas acquisition, exploration and development activities for each of the periods shown below:

	For the Year Ended December 31,
	2013		2012
Acquisition of Properties
Proved	$	—	$	—
Unproved		6,065,258		4,477,833
Exploration Costs				—
Development Costs		23,643,344		20,602,499
Total Costs Incurred	$	29,708,602	$	25,080,332

Results of Operations for Oil and Gas Producing Activities

Aggregate results of operations, in connection with Trans Energy’s crude oil and natural gas producing activities, for each of the periods shown below:

	For the Year Ended December 31,
	2013			2012
Sales	$	18,174,524		$	11,356,626
Production Costs (a)		(10,136,028	)		(6,624,423	)
Depreciation, Depletion and Amortization		(5,751,781	)		(3,778,242	)
Income Tax Expense		—			58,013
Total Results of Operations for Producing Activities (b)	$	2,286,715		$	1,011,974

(a) Production costs consist of oil and gas operations expense, production and ad valorem taxes, plus general and administrative expense supporting Trans Energy’s oil and gas operations.

(b) Excludes the activities of pipeline transmission operations, corporate overhead and interest costs, gain on sale of oil and gas assets, impairment of fixed assets and related income taxes.

Summary of Proved Reserves

The following schedule sets forth the proved reserves of Trans Energy during each of the periods presented:

	As of December 31,
	2013									2012
	Oil (BBL)			Gas (Mcf)			NGL (BBL)			Oil (BBL)			Gas (Mcf)			NGL (BBL)
Proved Reserves:
Beginning of the period		133,735			43,939,005			1,649,873			163,906			16,695,133			559,389
Revisions of previous estimates		(1,808	)		(13,028,885	)		(722,757	)		(20,749	)		838,105			224,307
Extensions and discoveries		6,267			16,916,629			63,537			6,740			29,356,710			976,248
Improved recovery		—			—			—
Production		(1,414	)		(3,783,427	)		(100,284	)		(16,162	)		(2,950,943	)		(110,071	)
Purchases of minerals in place		—			—			—			—			—			—
Sales of minerals in place-leaseholds		(117,707	)		(1,507,155	)		(2	)		—			—			—
End of period		19,073			42,536,167			890,367			133,735			43,939,005			1,649,873
Proved Developed Reserves, End of Year		19,073			42,536,167			890,367			129,468			28,072,921			1,037,577

Summary of Standardized Measure of Discounted Future Net Cash Flows

This information is not the fair market value, nor does it represent the expected present value of future cash flows of Trans Energy’s proved oil and gas reserves.

	As of December 31,
	2013			2012
Future Cash Inflows	$	186,892,866		$	212,933,565
Future Production Costs (a)		(71,482,928	)		(80,504,937	)
Future Development Costs		—			(18,845,514	)
Future Income Tax Expense		(23,081,988	)		(22,716,623	)
Future Net Cash Flows		92,327,950			90,866,491
Discounted for Estimated Timing of Cash Flows		(48,013,950	)		(56,571,491	)
Standardized Measure of Discounted Future Net Cash Flows	$	44,314,000		$	34,295,000

(a) Production costs include oil and gas operations expense, production ad valorem taxes, transportation costs and general and administrative expense supporting Trans Energy’s oil and gas operations and are based on current year-end economic conditions.

Summary of Principal Changes in the Aggregate Standardized Measure of Discounted Future Net Cash Flows

Principal changes in the aggregate standardized measure of discounted future net cash flows attributable to Trans Energy’s proved crude oil and natural gas reserves at year end are set forth in the table below:

	For the Year Ended December 31,
	2013			2012
Standardized Measure, Beginning of Year	$	34,295,000		$	33,002,000
Oil and gas sales, net of production costs		(8,648,780	)		(5,187,428	)
Changes in prices and future production		2,402,924			(1,430,105	)
Extensions, discoveries and improved recovery, net of costs		21,245,578			20,268,426
Sales of Minerals in place-leaseholds		(7,591,348	)		—
Change in estimated future development costs		18,845,514			(18,845,514	)
Previously estimated development costs incurred		—			—
Revisions of previous quantity estimates		(25,123,031	)		2,609,337
Accretion of Discount		3,429,500			3,300,200
Net change in income taxes		(365,365	)		(4,900,391	)
Timing and Other		5,824,008			5,478,475
Standardized Measure, End of Year	$	44,314,000		$	34,295,000