ADX Energy starts Austrian well work to lift Vienna Basin output and test HOCH-1

• Targeting a 100 BOEPD increase in production from its Vienna Basin producing fields
• Program scheduled over eight weeks, involving two well recompletions and a pump replacement
• HOCH-1 Phase 2 testing scheduled for the week of December 7

Special Report: ADX Energy has started well work in Austria to lift production from its Vienna Basin fields and test a deeper reservoir at its HOCH-1 gas discovery.

The company owns 100% of the Vienna Basin fields and operates HOCH-1 in Upper Austria’s ADX-AT-I exploration licence, where it holds a 50% economic interest in the discovery.

ADX Energy (ASX:ADX) recently announced a rights issue seeking to raise up to $5.2 million, with proceeds earmarked for the Vienna Basin work, HOCH-1 testing and other exploration activities.

Vienna Basin targets extra barrels from existing wells

ADX has commenced its production enhancement program starting with a gas zone recompletion in an existing production well during the week of November 9.

The company expects to add 50–60 barrels of oil equivalent a day in gas output by perforating the gas zone and converting the well to gas production.

ADX also expects a downhole pump replacement scheduled for the week of November 16 to add about 15 barrels of oil equivalent a day.

The company plans to open a new oil interval and install equipment to keep sand out of the well in the week of December 14, targeting another 30–40 barrels of oil a day.

The fields already have access to the local gas grid and a pipeline to OMV’s refinery. The fields averaged 176 barrels of oil equivalent a day in the September quarter, giving a sense of the scale of the targeted increase.

At HOCH-1, the rig crew needs about two weeks to prepare the well for testing. That includes removing the existing completion and drilling through a cement plug to reach Zone 6 in the deeper Hall Channel reservoir.

Four zones flowed together at an average 3.15 million cubic feet of gas a day over 12 hours in Phase 1.

Phase 2 will give ADX flow data from a deeper interval as it assesses whether the discovery can support commercial production.

Europe heads into winter with tight gas supplies

Oil supplies fuels such as diesel for freight, while natural gas heats homes, fuels power stations and supplies industry.

The International Energy Agency’s October oil report forecast global supply would shrink by 5.8 million barrels a day in 2026, outpacing a 2.6 million barrel-a-day drop in demand as disruptions in the Middle East constrained shipments and high prices curbed consumption.

Brent crude spot prices averaged US$114 a barrel in September, up US$23 from August, according to the US Energy Information Administration.

The Administration’s October outlook projected an average of US$105 in the final quarter of 2026 and US$74 in the final quarter of 2027 as Middle Eastern flows recover and inventories rebuild.

In Europe, the benchmark Dutch TTF gas contract traded at €86.36/MWh early on November 5 after topping €100/MWh in late October, Dow Jones reported.

The IEA says thin European storage could keep the market tight well into 2027, especially if a cold winter accelerates withdrawals and disruption to liquefied natural gas shipments through the Strait of Hormuz persists.

ADX expects the workover program to run for about eight weeks and says it will report results as they become available.

This article was developed in collaboration with ADX Energy, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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