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

12 Months Ended

Dec. 31, 2015

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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,
	2015			2014
Proved oil and gas producing properties and related lease, wells and equipment		89,391,813			89,453,477
Unproved Oil and Gas Properties		6,829,029			5,728,196
Accumulated Depreciation, Depletion and Amortization		(26,442,766	)		(17,731,699	)
Net Capitalized Costs		69,778,076		$	77,449,974

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,
	2015		2014
Acquisition of Properties
Proved	$	—	$	—
Unproved		1,120,479		960,554
Exploration Costs		—		—
Development Costs		6,038,877		31,748,593
Total Costs Incurred	$	7,159,356	$	32,709,147

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,
	2015			2014
Sales	$	12,261,539		$	26,969,359
Production Costs (a)		(11,505,478	)		(12,982,632	)
Depreciation, Depletion and Amortization		(8,710,067	)		(9,701,086	)
Income Tax Expense		—			—
Total Results of Operations for Producing Activities (b)	$	(7,954,006	)	$	4,285,641

(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,
	2015									2014
	Oil			Gas			NGL			Oil			Gas			NGL
	(BBL)			(Mcf)			(BBL)			(BBL)			(Mcf)			(BBL)
Proved Reserves:
Beginning of the period		17,374			76,966,121			1,269,207			19,073			42,536,167			890,367
Revisions of previous estimates		(10,826	)		(30,046,251	)		343,816			397			2,579,426			124,580
Extensions and discoveries		—			942,402			—			8			40,437,710			453,816
Production		(1,091	)		(6,491,172	)		(191,446	)		(2,104	)		(6,273,384	)		(127,530	)
Purchases of minerals in place		—			—			—			—			(2,346,798	)		(72,026	)
Sales of minerals in place-leaseholds		—			(3,721,437	)		—			—			—			—
End of period		5,457			37,616,663			1,421,577			17,374			76,933,121			1,269,207
Proved Developed Reserves, End of Year		5,457			32,129,895			1,421,577			17,374			62,489,000			1,269,207

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,
	2015			2014
Future Cash Inflows	$	88,813,496		$	330,073,018
Future Production Costs (a)		(62,318,720	)		(142,451,499	)
Future Development Costs		(1,908,925	)		(7,852,451	)
Future Income Tax Expense		(4,917,170	)		(37,524,303	)
Future Net Cash Flows		19,668,681			142,244,765
Discounted for Estimated Timing of Cash Flows		(9,853,817	)		(75,150,765	)
Standardized Measure of Discounted Future Net Cash Flows	$	9,814,864		$	67,094,000

(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,
	2015			2014
Standardized Measure, Beginning of Year	$	67,094,000		$	44,314,000
Oil and gas sales, net of production costs		942,744			(14,625,871	)
Changes in prices and future production		(75,829,003	)		(1,676,515	)
Extensions, discoveries and improved recovery, net of costs		157,123			40,301,999
Sales of Minerals in place-leaseholds		(2,398,466	)		(3,433,255	)
Change in estimated future development costs		913,657			(6,553,408	)
Previously estimated development costs incurred		3,781,305			—
Revisions of previous quantity estimates		(7,451,741	)		4,682,554
Accretion of Discount		6,709,400			4,431,400
Net change in income taxes		15,412,445			(7,071,933	)
Timing and Other		483,400			6,725,029
Standardized Measure, End of Year		9,814,864			67,094,000