Join our daily newsletter At The Bell to receive exclusive market insights
- ADX Energy (ADX) said results of electric line logging operations at the Anshof-3 exploration well have provided further confirmation of the discovery of an oil zone
- Current operations on the Anshof-3 well include preparation to run and cement 7-inch casing from the 9 5⁄8 inch casing shoe at 331m to TD of the well utilizing the RED rig
- ADX has started engineering, planning and procurement to complete and test the well using a “specialised, smaller and cost-effective” workover rig
- ADX Energy opened the day of trade in the grey, trading at 1 cent
ADX Energy (ADX) said results of electric line logging operations at the Anshof-3 exploration well, located in the ADX-AT-II license in Upper Austria, have provided further confirmation of the discovery of an oil zone.
This oil zone is at the primary Eocene target as well as a potentially productive shallow Miocene gas reservoir.
Based on the drilling and electric line logging results from the Anshof-3 well, ADX and its partner Xstate Resources (XST) have decided to run casing and complete the well with a view to testing the oil and gas zones.
This is to be done prior to potentially placing the well on commercial production following the declaration of a production license.
Current operations on the Anshof-3 well include preparation to run and cement 7-inch casing from the 9 5⁄8 inch casing shoe at 331m to TD of the well utilizing the RED rig.
After the completion of casing running and cementing operations, the RED rig will be demobilized.
ADX has started engineering, planning and procurement to complete and test the well using a “specialised, smaller and cost-effective” workover rig.
Much of the equipment and services required for completion and testing of the Anshof-3 well are available from ADX’ operations at the Gaiselberg and Zistersdorf fields.
ADX also plans to test the deeper Eocene oil target first to confirm reservoir productivity as well as continuity of the reservoirs from pressure response and production performance.
ADX Energy opened the day of trade in the grey, trading at 1 cent at 10:39 am AEDT.
