Supplementary Information on Oil And Gas Producing Activities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

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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,
	2014			2013
Proved oil and gas producing properties and related lease, wells and equipment		89,453,477		$	79,358,623
Unproved Oil and Gas Properties		5,728,196			15,092,783
Accumulated Depreciation, Depletion and Amortization		(17,731,699	)		(14,473,069	)
Net Capitalized Costs	$	77,449,974		$	79,978,337

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,
	2014		2013
Acquisition of Properties
Proved	$	—	$	—
Unproved		960,554		6,065,258
Exploration Costs
Development Costs		31,748,593		23,643,344
Total Costs Incurred	$	32,709,147	$	29,708,602

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,
	2014			2013
Sales	$	26,969,359		$	18,174,524
Production Costs (a)		(12,982,632	)		(10,136,028	)
Depreciation, Depletion and Amortization		(9,701,086	)		(5,751,781	)
Income Tax Expense		—			—
Total Results of Operations for Producing Activities (b)	$	4,285,641		$	2,286,715

(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,
	2014									2013
	Oil (BBL)			Gas (Mcf)			NGL (BBL)			Oil (BBL)			Gas (Mcf)			NGL (BBL)
Proved Reserves:
Beginning of the period		19,073			42,536,167			890,367			133,735			43,939,005			1,649,873
Revisions of previous estimates		397			2,579,426			124,580			(1,808	)		(13,028,885	)		(722,757	)
Extensions and discoveries		8			40,437,710			453,816			6,267			16,916,629			63,537
Production		(2,104	)		(6,273,384	)		(127,530	)		(1,414	)		(3,783,427	)		(100,284	)
Purchases of minerals in place		—			(2,346,798	)		(72,026	)		—			—			—
Sales of minerals in place-leaseholds		—			—			—			(117,707	)		(1,507,155	)		(2	)
End of period		17,374			76,933,121			1,269,207			19,073			42,536,167			890,367
Proved Developed Reserves, End of Year		17,374			62,489,000			1,269,207			19,073			42,536,167			890,367

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,
	2014			2013
Future Cash Inflows	$	330,073,018		$	186,892,866
Future Production Costs (a)		(142,451,499	)		(71,482,928	)
Future Development Costs		(7,852,451	)		—
Future Income Tax Expense		(37,524,303	)		(23,081,988	)
Future Net Cash Flows		142,244,765			92,327,950
Discounted for Estimated Timing of Cash Flows		(75,150,765	)		(48,013,950	)
Standardized Measure of Discounted Future Net Cash Flows	$	67,094,000		$	44,314,000

(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,
	2014			2013
Standardized Measure, Beginning of Year	$	44,314,000		$	34,295,000
Oil and gas sales, net of production costs		(14,625,871	)		(8,648,780	)
Changes in prices and future production		(1,676,515	)		2,402,924
Extensions, discoveries and improved recovery, net of costs		40,301,999			21,245,578
Sales of Minerals in place-leaseholds		(3,433,255	)		(7,591,348	)
Change in estimated future development costs		(6,553,408	)		18,845,514
Previously estimated development costs incurred		—			—
Revisions of previous quantity estimates		4,682,554			(25,123,031	)
Accretion of Discount		4,431,400			3,429,500
Net change in income taxes		(7,071,933	)		(365,365	)
Timing and Other		6,725,029			5,824,008
Standardized Measure, End of Year		67,094,000		$	44,314,000