Austrian well work yields immediate success for ADX, unlocks winter gas uplift

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ADX's Vienna Basin work program has delivered a gas flow result that supports a planned 100 boe/d addition. ... Read More The post Austrian well work yields immediate success for…

Early Christmas gift: ADX records immediate success from an Austrian well work program ahead of winter. Pic: Getty Images

Special Report: ADX Energy has delivered immediate gas flow success from its Vienna Basin well work program, supporting a production boost ahead of Europe’s winter.

The GA-093 well at the company’s wholly owned fields flowed initially at 1.8 million standard cubic feet a day through an 8mm choke after crews recompleted the well and perforated a gas zone.

Sales pipeline capacity will limit the immediate gas sales rate to 600,000 standard cubic feet a day, equivalent to 100 barrels of oil equivalent a day (boe/d).

ADX Energy (ASX:ADX) says that incremental volume represents about 40% of its Austrian production, which averaged 242 boe/d in the September quarter.

The company expects the winter timing to generate elevated incremental cash flow, citing European gas at €82.6 per megawatt-hour on November 11, equivalent to an oil price of US$162 a barrel.

The actual sales rate also exceeds the 50-60 boe/d increment ADX targeted for GA-093 when it launched the work program.

MB Well Services’ workover rig is undertaking the program across the Vienna Basin fields and the HOCH-1 gas discovery in Upper Austria.

ADX next plans to replace the downhole pump at GA-072A in the week starting November 16, targeting another 15 boe/d of oil and gas.

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