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IPAA OGIS NEW YORK – Trans Energy Inc.

Trans Energy Inc. · Apr 15, 2013 · 33 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 1
    IPAA OGIS NEW YORK APRIL 15, 2013 1 Whipkey Drilling Pad, Marshall County, West Virginia
  2. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 2
    About Trans Energy Company Overview Area of Operation Trans Energy: (OTCQB: TENG) Pure Play Marcellus Shale Proved Reserves: 52.4 Bcfe (12/31/2012 Wright & Co. Estimates - Marcellus only) Recent Daily Production: 11,900 Mcfe…
  3. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 3
    Why Invest in Trans Energy Marcellus Shale pure play Predictable and repeatable inventory Prominent land position with strong upside potential Trades at a significant discount to NAV Experienced Management Team Wet Gas Dry Gas…
  4. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 4
    Corporate Strategy - Prove Acreage / Add Drillable Locations Consolidate acreage surrounding legacy positions in the core of the Marcellus Marshall, Wetzel, Marion and Tyler counties Building upon local presence a West Virginia…
  5. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 5
    Overview of Recent Shallow Asset Transaction On January 24, 2013, as part of its efforts to focus on drilling Marcellus wells, Trans Energy sold its shallow conventional wells and farmed out shallow conventional drilling rights…
  6. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 6
    Marcellus Overview Majority of Company acreage located in wet gas window NGL yields in the 1.4 1.9 gallons per mcf range Ft. Beeler processing plants provide 320 MMcf/day throughput capacity Trans Energy Area of Condensate and…
  7. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 7
    Competitive Market Position Marcellus Well Permits (thru Sept 20, 2012*) Marion: 60 Marshall: 139 Tyler: 22 Wetzel: 150 *Permit data acquired from WV Geologic Survey 8
  8. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 8
    Current Marcellus Acreage Significant Marcellus acreage that Acreage Breakdown 24,189 Net acres is held by shallow well production Approximately 350 horizontal well 855 ac. locations from HBP acreage alone Primary term leased…
  9. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 9
    Reserves and Resources (SEC 12/31/12 Est.) Trans Energy has exposure to more than 3 Tcfe of Marcellus resource potential More than 400 potential drilling locations (186 ready to drill today) EUR per well of 1.4 2.9 Bcfe /1000 of…
  10. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 10
    Reserves and Resources (Internal 12/31/12 Est.) Trans Energy has exposure to more than 3 Tcfe of Marcellus resource potential More than 400 potential drilling locations (186 ready to drill today) EUR per well of 1.4 2.9 Bcfe /1000…
  11. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 11
    Net Reserves and Resources 3rd Party Engineered BCFE Probable Reserves Disclosed for 1st Time Note: 9/20 and 12/31 reserve estimates incorporate pricing from Macquarie Tristone Lender Price Surveys; Previous reserve estimates…
  12. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 12
    Wet Gas Provides Positive Economics 3.50 NYMEX Equals 4.59/MCF Wellhead Price 3.50 / MMBTU NYMEX Henry Hub 85 NYMEX WTI One mcf Natural Gas via Wellhead Production Natural Gas Natural Gas Liquids Condensate Production Breakdown…
  13. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 13
    Experienced Management Team Steve Lucado Director since 2011 Chairman of the Board More than 18 years professional financial experience, including E&P CFO experience Bachelor of Arts Degree Harvard University, MBA, University of…
  14. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 14
    Joint Development Partner: Republic Energy Republic is a privately held Dallas-based E&P company Technical team has 200+ years combined industry experience Former VP Geology and Head of Completion Operations for North Texas from…
  15. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 15
    Horizontal Marcellus Production History 5,000 4,500 4,000 Quarterly 8/8ths Production (Mmcfe) 3,500 3,000 2,500 2,000 1,500 1,000 500 0 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Total…
  16. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 16
    Marshall County Type Curve (Pre Doman 1H, 2H) Horizontal Decline Curve (750' Spacing) 7 Projected Horizontal Well Results 6 Reserves per well: 7.8 Bcfe IP Rates: 5.7 MMcfe/d 5 1st 30 day average: 4.4 MMcfe/d (1) Percent Liquids:…
  17. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 17
    Type Curve Update Recent Well Completions IRR vs. Price of Gas Typical Wetzel Doman Average Typical Marshall (Pre-Doman) 70% Projected Horizontal Well 60% Projected Reserves Horizontal Per Well: Well 9.08 Bcfe, 8.88 Bcfe, 7.56…
  18. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 18
    Marshall County JV has 13,753 gross acres of leased and owned minerals 12 wells online, 1 well drilled and currently finishing frac Average 30-day IP of 4.4 MMcfe/d (1) / 6.0 MMcfe/d (2) 20% Oil/NGLs Average lateral length 4,100…
  19. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 19
    Wetzel County JV has 27,454 gross acres of leased and owned minerals 5 wells online Average 30-day IP of 8.1 MMcfe/d (1) 20% Oil/NGLs 5,000 Average lateral length (1) Average EUR / 1000 lateral (1) of 2.27 Bcfe 4.5 Frac…
  20. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 20
    IP Rates - Recent Marcellus Completions 21
  21. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 21
    Drilling Program Recap 17 Hz wells online 2 Doman wells turned online January 2013 Martinez well drilled,frac to be completed by mid April 2013 2013 Drilling Program Marion (3) Tyler (2) Marshall (2) 22
  22. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 22
    Marion & Tyler Counties THE NEXT STEP 23
  23. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 23
    Marion County JV has 21,580 gross acres of leased and Marion County owned minerals Marcellus gains thickness relative to Wetzel BTU expected between 1050 and 1100 Total Potential Wells: 199 Total Wells Drillable Today: 19…
  24. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 24
    Tyler County JV has 3,010 gross acres of leased Tyler County and owned minerals Total Potential Wells: 47 Total Wells Drillable Today: 36 (pending permits) 2013 Drilling Program: 2 wells 25
  25. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 25
    Gas Off-Take (Williams & Momentum 3) 20-year gas gathering agreement with Williams for up to 45,000 MMBTU / day 90,000 MMBTU / day including Republic capacity Williams committed to provide off- take for all wells to be drilled…
  26. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 26
    Net Asset Value Trading at significant discount to net asset value (NAV) Trans Energy (1) Sum-of-Parts NAV Unit Value Total Value Value Per Share Category Low High Low High Low 12/31/2012 Proved Reserves (Preliminary Est.) 52.38…
  27. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 27
    Why Invest in Trans Energy Marcellus Shale Pure Play Over 60,000 gross acres in core of the Marcellus Shale Utica Shale potential Upper Devonian upside potential High-BTU, liquid-rich focus 1.50 per MMBtu breakeven natural gas…
  28. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 28
    APPENDIX Doman Drilling Pad, Marshall County, West Virginia 29
  29. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 29
    Overview of April 2012 Corporate Reorganization The new credit facility involved a reorganization of the operating subsidiaries and assets of Trans Energy Below summarizes the movement of significant assets in the corporate…
  30. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 30
    Marcellus BTU Content By County Marshall, Wetzel, and Tyler counties have high BTU content with significant liquids potential Marion County is dry gas 14.73 (PSIA) Well Well Type BTU/SCF (Dry) BTU/SCF (Saturated) Marshall County…
  31. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 31
    Shrink and Gallons/MCF Correlation 100% 2.50 80% 2.00 60% 1.50 Gallons/Mcf Shrink 40% 1.00 20% 0.50 0% - Feb- Mar- Apr- May- Aug- Sep- Nov- Dec- Feb- Mar- Apr- May- Aug- Sep- Nov- Dec- Jan-11 Jun-11 Jul-11…
  32. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 32
    Overview of ASD Entity Trans Energy Republic Energy Trans Energy, Inc. Lender Ventures, LLC Energy, Inc. (OTCBB: TENG) Lender Parent Parent LLC (OTCBB: TENG) 7.Overhead Support Ownership 100% 5.Contract Operator…
  33. IPAA OGIS NEW YORK – Trans Energy Inc. – slide 33
    AJDA Summary Trans Energy entered into an AJDA with Republic Energy during 2007 to develop its Marcellus acreage Public & Management Republic Management & Energy Shareholders Trust Partners Trans Energy, Inc. Contract Operator…

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