Trans Energy Sells 5,159 Acres/12 Wells in Wetzel County for $71.3M

UPDATE 4/11/15: We now know the identity of the company doing the buying. See our note at the end of the article.

Trans Energy, a small but active “pure play” Marcellus driller in West Virginia, announced it has signed a deal with an unnamed buyer for one-third of their remaining Marcellus acreage, located in Wetzel County, WV. The deal is for 5,159 net acres and twelve producing Marcellus wells. Sale price? $71.3 million. This deal means that Trans Energy will no longer have active operations or leases in Wetzel County. They will continue to have active operations and leases in Marshall and Marion counties. This is not the first time Trans Energy has sold some of their WV acreage to an unnamed buyer. They sold 1,163 acres and two well pads with an unfinished well in Tyler County in October 2013 (see Trans Energy Sells Off Holdings in Tyler County, WV – Who Bought?). As in 2013, the buyer for the Wetzel acreage is not named, but MDN has a guess about who it may be…

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