ADX Energy Ltd. has achieved a production boost in Europe, with a 35 per cent increase in its net Austrian output following a highly successful well workover campaign in the historic Vienna Basin.
ADX holds a 100 per cent equity interest in the Zistersdorf and Gaiselberg fields located roughly 70 kilometres northeast of Vienna. The company commenced a low-cost behind pipe perforation program on two existing production wells.
The engineering initiative targeted previously untapped zones within the GA-10A and GA-93 wells, yielding an immediate combined increase of approximately 75 barrels of oil equivalent per day (BOEPD). Individually, the GA-10A well delivered an extra 24 barrels of oil per day, while the GA-93 well chipped in an additional 52 BOEPD of gas.
The successful campaign has lifted total Vienna Basin field production from 150 BOEPD to 220 BOEPD. When combined with ADX’s Anshof field in Upper Austria, the company’s net Austrian production has scaled up to approximately 285 BOEPD.
ADX Executive Chairman Ian Tchacos said: “The 35 per cent increase in net Austrian production from the recent well work at our Vienna Basin fields is a positive outcome with further production growth identified from future work programs.
“We are planning a potential new development well and an appraisal well to be drilled in 2027. New wells on the field can be tied into infrastructure immediately at minimal cost, thereby enhancing cash flow and economic returns.”
The incremental barrels are highly profitable for the Australian miner due to exceptionally favourable local fiscal terms.
Production from the basin benefits from low operational costs, a royalty rate of less than 1 per cent, Brent-equivalent oil pricing, and robust European gas prices currently trading around €48 per megawatt-hour.
ADX is planning a program of infill and appraisal drilling to start in 2027 to further increase production and reserves from the two Vienna Basin fields called Zistersdorf and Gaiselberg.
