ADX Energy targets 100 BOEPD production boost
- ADX Energy planned a new work programme for its Austrian energy operations.
- The company scheduled work over activities across the Vienna Basin and HOCH-1 well to start on Oct. 19.
- ADX Energy expects the Vienna Basin programme to add 100 barrels of oil equivalent per day.
ADX Energy (ASX:ADX) has announced a combined workover rig programme for its Austrian operations starting on Oct. 19 to enhance production.
The announcement updates previous testing results where the HOCH-1 well produced gas at rates up to 3.15 MMCFPD, equivalent to 548 BOEPD.
The company stated that the upcoming workover programme will include well gas zone perforation, pump replacement, and sand retention completion installation.
ADX Executive Chairman Ian Tchacos said, “The positive HOCH-1 exploration results recorded from gas zones tested to date provide confidence regarding the testing of additional zones in the Hall Channel Sands.”
Phase 2 testing at the HOCH-1 well will focus on the Hall Channel zones and is planned to commence on Dec. 15.
The company stated that the Vienna Basin activities are expected to add approximately 100 BOEPD of oil and gas production. Following the announcement, the ADX Energy share price was unchanged at $0.10.
The Hochfeld-1 shallow gas exploration well was drilled after encountering up to eight biogenic gas reservoirs in the Hall basin floor fan and Base Hall Channel formations.
Reservoirs intersected in the HOCH-1 well have been correlated to nearby discoveries, indicating potential lateral extensions of deeper sand bodies.
