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- Production well work targeting 100 BOEPD of incremental production
- Vienna Basin fields and phase two testing of HOCH-1 gas discovery
- Work program expected to have duration of approximately eight weeks
- Well work required at HOCH-1 prior to testing work program
ADX Energy (ASX: ADX) has commenced a work program utilising the MB Well Services workover rig in the Vienna Basin in Austria.
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The program will focus on production enhancement activities across the Vienna Basin fields, as well as the testing of the HOCH-1 gas discovery well within the ADX-AT-I exploration licence in Upper Austria.
ADX is the operator and holds a 50% economic interest in the HOCH gas discovery.
The work program is expected to have a duration of approximately eight weeks.
The program of well work activities and is scheduled as follows:
1. Vienna Basin well: new gas zone completion
2. Vienna Basin oil well: pump replacement
3. HOCH-1: Phase 2 gas testing
4. Vienna Basin well: new oil zone completion
Approximately two weeks of well work required at HOCH-1 prior to testing work program objectives
The well work program objectives are summarised as follows:
1. The perforation of a gas zone and the re-completion of the GA-093 production well to a gas well is expected to deliver approximately 50 to 60 barrels of oil equivalent (BOEPD) of incremental gas production. Undertaking the work at this time is expected to generate elevated incremental cash flow due to high gas prices and strong gas demand during winter months.
2. The replacement of a down-hole pump in the GA-072A production well is expected to deliver approximately 15 BOEPD of incremental oil and gas production.
3. The testing of the HOCH-1 Hall Channel Zone #6 reservoir requires the removal of the well current completion, the drilling out of a cement plug to access deeper gas reservoirs and re-running a production completion prior to perforating the well.
4. The perforation of a new production interval in the GA-087 well and the installation of a sand retention completion is expected to deliver approx. 30 to 40 BOPD of incremental oil production.
2 The HOCH-1 shallow gas discovery well encountered up to eight (8) biogenic gas reservoirs within the Hall basin floor fan formation and the Base Hall Channel formation. The commingled flow rate from four reservoirs during Phase 1 testing was 3.15 MMCFPD which is equivalent to 548 BOEPD.
ADX was steady at 1.1¢. Mkt cap $11.92M.
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