Highlights

  • ADX lifts average net production 23% QoQ to 242 barrels of oil equivalent daily.
  • Vienna Basin well work supports the production increase.
  • HOCH-1 testing records a combined flow rate from four zones.
  • The company progresses funding and preparation for additional wells.

ADX Energy (ASX:ADX), an oil and gas producer and explorer active in Austria and the Sicily Channel, has increased Austrian output while advancing shallow-gas testing. Its September 2026 report pairs a 23% quarterly production rise with preparations for further well interventions, HOCH-1 testing and exploration drilling, as cash receipts remain broadly unchanged from the preceding quarter.

Vienna Basin Work Lifts Quarterly Production

Average net production reached 242 barrels of oil equivalent per day, compared with 197 in the June quarter. Vienna Basin output averaged 176 barrels equivalent daily, up from 138, while net Anshof sales contributed 66 barrels of oil daily.

New perforations in two producing wells accessed behind-pipe volumes and increased output early in the quarter. The program also included a subsurface repair and equipment replacement. Sales and other cash revenue totalled AUD 3.13mn, compared with AUD 3.12mn in the previous quarter, as benchmark oil prices fell and average gas prices increased.

Further Interventions Target Existing Wells

The December-quarter program will focus on additional reservoir perforations in the GA-93 and GA-87 wells, together with an equipment repair. The company expects the three interventions collectively to add approximately 100 barrels equivalent per day.

Work is planned to commence on 27 October. That expected increment remains a forward work-program objective. During the reporting quarter, the average Brent price was USD 97 per barrel, down 7% QoQ, while the average gas price increased 10% QoQ to EUR 53.7 per megawatt-hour. Unrestricted cash was AUD 2.3mn, excluding AUD 1.2mn in restricted bonds and guarantees.

HOCH-1 Moves Towards Its Next Test

Phase 1 comingled testing from four HOCH-1 zones averaged 3.15 million cubic feet of gas daily, equivalent to 548 barrels of oil equivalent per day. The next phase requires drilling a plug to reach another potentially extensive, high-permeability gas zone.

The company expects further test results in mid-December. At GOLD, a binding heads of agreement provides for a partner to earn a 10% economic interest by paying 20% of GOLD-1 costs. The final investment agreement and additional farm-out discussions remain work items, alongside well-site preparation for GOLD and SCHOE.

Exploration Preparation Extends Across Two Regions

Land has been secured for the PERG-1 near-field oil prospect, with permitting and farm-out activity continuing. Technical studies are also advancing for potential Welchau-1 deepening and interpretation of newly processed seismic information over Upper Austrian gas prospects.

In the Sicily Channel, three exploration permit applications were submitted to extend the company's gas-play position. Next steps include the competition period, preliminary environmental screening and further seismic and well-data interpretation. ADX raised AUD 3.58mn through a July placement. Its following quarter combines production work with gas testing, well preparation and progress through the outstanding permit processes.