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v2.4.0.6
Business Segments
6 Months Ended
Jun. 30, 2012
Business Segments [Abstract]  
BUSINESS SEGMENTS

NOTE 10 — BUSINESS SEGMENTS

Trans Energy’s principal operations consist of exploration and production with Trans Energy, American Shale Development, and Prima Oil Company, and pipeline transmission with Ritchie County Gathering Systems and Tyler Construction Company.

Certain financial information concerning Trans Energy’s operations in different segments is as follows:

 

                                     
    For the
Three
Months
Ended June 30,
  Exploration
and
Production
    Pipeline
Transmission
    Corporate     Total  

Revenue

  2012

2011

  $

 

2,137,362

3,798,469

  

  

  $

 

94,375

85,487

  

  

  $

 

232,965

10,360

  

  

  $

 

2,464,702

3,894,316

  

  

Income (loss) from operations

  2012

2011

   

 

110

1,110,484

  

  

   

 

55,354

82,916

  

  

   

 

(1,343,071

(1,570,695


   

 

(1,287,607

(377,295


Interest expense

  2012

2011

   

 

1,432,141

442,923

  

  

   

 

—  

—  

  

  

   

 

—  

—  

  

  

   

 

1,432,141

442,923

  

  

Depreciation, depletion, amortization and accretion

  2012

2011

   

 

741,969

1,847,662

  

  

   

 

81

2,516

  

  

   

 

—  

—  

  

  

   

 

742,050

1,850,178

  

  

Property and equipment acquisitions, including oil and gas properties

  2012

2011

   

 

13,266,501

5,125,815

  

  

   

 

—  

—  

  

  

   

 

—  

—  

  

  

   

 

13,266,501

5,125,815

  

  

 

                                     
    For the
Six
Months
Ended June 30,
  Exploration
and
Production
    Pipeline
Transmission
    Corporate     Total  

Revenue

  2012

2011

  $

 

4,909,344

5,253,094

  

  

  $

 

187,688

245,043

  

  

  $

 

285,198

26,278

  

  

  $

 

5,382,230

5,524,415

  

  

Income (loss) from operations

  2012

2011

   

 

243,577

14,212,162

  

  

   

 

106,873

239,956

  

  

   

 

(2,703,613

(2,616,556


   

 

(2,353,163

11,835,562


  

Interest expense

  2012

2011

   

 

1,870,855

850,117

  

  

   

 

—  

—  

  

  

   

 

—  

—  

  

  

   

 

1,870,855

850,117

  

  

Depreciation, depletion, amortization and accretion

  2012

2011

   

 

1,752,887

2,398,888

  

  

   

 

161

5,032

  

  

   

 

—  

—  

  

  

   

 

1,753,048

2,403,920

  

  

Property and equipment acquisitions, including oil and gas properties

  2012

2011

   

 

14,340,118

12,315,380

  

  

   

 

—  

—  

  

  

   

 

—  

—  

  

  

   

 

14,340,118

12,315,380

  

  

           

Total assets, net of intercompany accounts:

                                   

June 30, 2012

      $ 76,980,229     $ 37,878     $ —       $ 77,018,107  

December 31, 2011

      $ 57,994,415     $ 231,202     $ —       $ 58,225,817  

Property and equipment acquisitions include accrued amounts and reclassifications.