ADX primes Austrian gas play for moment-of-truth flow test

The West Australian

Jun 15

ADX Energy is about to discover whether its Upper Austrian shallow-gas play has genuine commercial punch, after mobilising surface testing equipment to its recently drilled HOCH-1 gas discovery well. ...

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Success could de-risk two prospects waiting in the wings and unlock a broader 60Bcf-plus gas growth story.","collect":0,"end_time":0,"defaultTopTitle":"thewest.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"DBC":"商品指数ETF-PowerShares DB","USE":"USCF Energy Commodity Strategy Absolute Return Fund","IXC":"全球能源业ETF-iShares","BK4588":"碎股","DBE":"能源商品ETF-PowerShares","FTXN":"First Trust Nasdaq Oil & Gas ETF","XES":"SPDR S&P Oil & Gas Equipment & Services ETF","DRIP":"Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares","DIG":"二倍做多美国油气指数","PXE":"Invesco Energy Exploration & Production ETF","IEO":"iShares Dow Jones U.S. Oil & Gas","BK4585":"ETF&股票定投概念","DRLL":"Strive U.S. Energy ETF","VDE":"Vanguard Energy ETF","GUSH":"Direxion Daily S&P Oil &Gas Exp. & Prod. Bull 2X Shares","ERX":"二倍做多能源ETF-Direxion","WTIU":"MICROSECTORS ENERGY 3X LEVERAGED ETN","PXJ":"Invesco Oil & Gas Services ETF","ADX":"Adams Diversified Equity Fund"},"translate_title":"ADX为奥地利天然气田进行关键时刻流量测试做好准备","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XES":1.5,"WTIU":1.5,"VDE":1.5,"PXJ":1.5,"DRIP":1.5,"DRLL":1.5,"IEO":1.5,"USE":1.5,"ERX":1.5,"ADX":1.5,"FTXN":1.5,"DBE":1.5,"IXC":1.5,"GUSH":1.5,"PXE":1.5,"DIG":1.5,"DBC":1.5},"content_text":"ADX Energy is about to discover whether its Upper Austrian shallow-gas play has genuine commercial punch, after mobilising surface testing equipment to its recently drilled HOCH-1 gas discovery well. The facilities will now be rigged up and pressure tested ahead of perforation and production testing.The move marks a critical step up from exploration to evaluation for the Perth-based company, which drilled, cased and completed the well in May.The well appears to have already outperformed expectations after lighting up as many as eight gas-bearing intervals below the original target. Persistent gas shows prompted management to deepen the well, resulting in the discovery of multiple new reservoirs that were not included in the original pre-drill estimates.Testing is scheduled to begin next week and will be conducted in two phases. The first will target up to three firm gas zones in the Hall formation, plus a contingent fourth zone. A second phase will then test deeper Base Hall targets, with the sequence determined by reservoir performance.HOCH-1 has ticked an important box for ADX by validating its shallow-gas model. However, with many of the gas-bearing zones on the skinny side, all eyes will now turn to the production test to see whether the discovery has the flow rates to match its promise.Earlier wireline interpretation identified 4m to 6m of net gas pay across seven intervals, with management saying up to eight potential reservoirs are now recognised.The wireline logging program has identified 4 to 6 metres of net gas pay across seven intervals. The multiple relatively thin gas sands can deliver high production rates based on offset well data and producing fields for the base hall formation.ADX Energy executive chairman Ian TchacosAdding the prospectivity of HOCH-1, other nearby fields that have entered the Hall Formation have flowed up to 9 million standard cubic feet of gas per day, despite similar reservoir thicknesses. The upcoming test will therefore reveal whether HOCH-1’s thin sands can punch above their weight in the same fashion.The company operates the project and holds a 50 per cent economic interest in the HOCH prospect.HOCH-1 is both the pathfinder and opening shot in ADX’s broader Austrian shallow-gas campaign. Before drilling, the prospect carried a mean prospective resource estimate of 8 billion cubic feet of gas (Bcf), with upside to 17.3Bcf before the newly recognised deeper intervals entered the equation.The broader campaign contains more than 60Bcf in prospective resources across the company’s permitted HOCH-1, GOLD-1 and SCHOE-1 prospects. Both follow-up targets have already been lined up for drilling later this year. A successful flow test at HOCH_1 could therefore de-risk the opportunities waiting in the wings and pave the way for a broader Upper Austrian gas growth story.Just as important as the gas itself is where it sits. The acreage lies within a mature hydrocarbon province and HOCH-1 is just 2km from open-access pipeline infrastructure, potentially providing a rapid route to market. The location is likely to support ADX’s strategy of linking multiple discoveries through shared infrastructure and streamlined tie-ins.ADX is not starting from scratch, with existing production and cash flow from its Vienna Basin and Anshof assets. The program is unfolding as Europe continues to prioritise domestic energy supply, increasing the value of infrastructure-linked gas discoveries.If HOCH-1 delivers commercial flow rates, the result could materially de-risk ADX’s broader Austrian shallow-gas portfolio and provide the launch pad for a multi-field development strategy in Upper Austria.The geology appears to have stacked up. The next few weeks will reveal whether HOCH-1 can turn a promising discovery into the first building block of a scalable Austrian gas hub.Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}