Oil & Gas

02 Mar 2022

ADX Energy Increases Austrian Oil and Gas Production

02 Mar 2022  by   

Oil, gas and wind production operation at the Gaiselberg and Zistersdorf fields in Upper Austria Credit: File
Europe-focused ADX Energy has increased oil and gas output from its Gaiselberg and Zistersdorf fields by 25 per cent in the Vienna Basin, Austria. Workovers and new production perforations improved both oil and gas output with the field gas rate improving by a staggering 85 per cent whilst barrels of oil equivalent per day have climbed to 318 barrels compared to the previous 254 barrels.

The well work program was completed at a cost of EUR183,000 that included repair work on two wells and the perforation of previously inaccessible reserves from behind pipe.

As an indication of the ability to extend the life of older oil and gas fields, ADX has now increased production from the Gaiselberg and Zistersdorf fields by ten per cent across combined production since purchase. Incredibly, Zistersdorf and Gaiselberg have been in production since prior to World War II, way back in 1938. These old European fields with thinly stacked reservoirs are full of complexity that can be exploited with a patient approach to production and life-extending new work.

With ADX managing to increase production at a time of sharply rising oil and gas prices, the company’s bottom line will likely reap the benefits.

ADX acquired the Zisterdorf/Gaiselberg production facilities in 2019 and since then has worked to improve and sustain profitable production from the complex long lived producing oil and gas fields located in central Europe. Operating under self-imposed highest operations standards, ADX has been continuing to improve both production and profits flowing from Austria.

Given the current squeeze on European gas brought on by regional geo-political upheaval, the market will likely warmly welcome any improved production figures from Gaiselberg and Zistersdorf fields. ADX will be hoping it is a sign of things to come as it waits for results from the upcoming testing of its Anshof 3 discovery.


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