TRANS ENERGY INC - FORM 10-Q/A - XML - IDEA: XBRL DOCUMENT - September 17, 2012

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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.

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