- 01Workover targets ~100boepd added Austrian output.
- 02Three wells targeted for oil and gas gains.
- 03HOCH-1 deeper test starts 7 Dec; commerciality unproven.
ADX Energy (ASX: ADX) has begun an eight-week Austrian well work program targeting around 100 barrels of oil equivalent per day (boepd) of additional production from its Vienna Basin fields alongside further testing of the HOCH-1 gas discovery.
The program will use an MB Well Services workover rig across its three producing wells in the area.
ADX operates HOCH-1 with a 50% economic interest and plans to commence its second phase of gas testing in the week beginning 7 December.
The combined program is designed to improve near-term oil and gas output while assessing deeper reservoir zones that could expand the discovery’s development potential.
Vienna Basin Production Targets
Scheduled for the week beginning 9 November, the first operation involves perforating a new gas zone and converting the GA-093 well to gas production.
ADX expects the recompletion to add about 50 to 60boepd, with winter gas demand and prices providing a potential cash flow benefit.
The company cited a European gas price of €86 per megawatt-hour, which it equated to an oil price of US$170 a barrel.
Work scheduled for the following week will replace a downhole pump at GA-072A, targeting a further 15boepd of oil and gas production.
A later operation, planned for the week beginning 14 December, will open a new oil-producing interval at GA-087 and install sand-retention equipment, with a targeted uplift of 30 to 40 barrels of oil per day.
Deeper HOCH-1 Gas Test
At HOCH-1, the next testing phase will concentrate on the deeper Hall Channel reservoirs rather than repeat the shallower zones examined previously.
Preparations are expected to require about two weeks of well work, including removing the existing completion, drilling out a cement plug, and installing a new production completion before perforation.
The discovery encountered as many as eight biogenic gas reservoirs within the Hall basin floor fan and Base Hall Channel formations.
Initial testing of four commingled reservoirs delivered a gas flow rate of 3.15 million cubic feet per day, equivalent to 548boepd, but this was a test result rather than an established production rate.
ADX has mapped and correlated the deeper zones with nearby gas discoveries and production wells, interpreting a stratigraphic trap extending at least 2.5 kilometres to the southeast.
Results to Guide Further Development
The planned HOCH-1 evaluation will help determine the production potential of Hall Channel Zone 6 and the broader deeper reservoir interval.
Nearby well correlations and historical production data support ADX’s interpretation of lateral continuity, although the scale and commercial productivity of the deeper zones remain to be demonstrated by testing.
The Vienna Basin interventions provide a separate opportunity to raise production from existing infrastructure while the discovery appraisal proceeds.
All three incremental production estimates are operational targets and depend on the outcome of the individual well interventions.
ADX intends to release results from both the production enhancement work and the HOCH-1 testing program as they become available.
Get the wire before the market opens.
The ASX small-cap stories that matter, filed before 9am AEST. Curated by the Small Caps desk.