Key Highlights

  • The GA-093 well flowed at an initial 1.8 MMSCFPD through an 8mm choke after recompletion and perforation of a gas zone.
  • Pipeline capacity limits will restrict the well to 0.6 MMSCFPD, equal to about 100 barrels of oil equivalent per day.
  • The company estimates the restricted output would lift Austrian production by roughly 40%, from an average of 242 BOEPD in the September 2026 quarter.
  • Further well work runs through December, including HOCH-1 gas testing from the week commencing 7 December.

ADX Energy Ltd (ASX:ADX) has reported early gas results from a well work program at its 100%-owned Vienna Basin fields in Austria. In an update dated 11 November 2026, the company said the GA-093 production well flowed at an initial rate of 1.8 million standard cubic feet per day after a workover rig recompleted the well and perforated a new gas zone. The focus of the update quickly moves from that initial flow to the rate at which the well will actually be sold.

A restricted sales rate for a constrained pipeline

ADX said the well will be restricted to a sales gas rate of 0.6 MMSCFPD because of capacity limits on its sales pipeline. That figure is roughly one third of the initial flow, which means about two thirds of the early rate will not be sold. The company converts the restricted rate to about 100 barrels of oil equivalent per day, a calculation that depends on the prevailing European gas price of EUR 82.6 per megawatt hour. On that basis, ADX equates the gas to an oil price of about US$162 per barrel.

The timing has been linked to the European winter. Gas Demand usually rises through the colder months, and ADX argues that producing now will generate elevated incremental cash flow. That argument rests on demand and prices holding through the season, neither of which can be assured, and the well has not yet been measured over an extended period at the restricted rate.

What the well adds to Austrian production

ADX said the incremental output from GA-093 represents about a 40% increase on Austrian production, which averaged 242 BOEPD in the quarter ended 30 September 2026. The uplift is based on the restricted rate rather than the initial flow, which is a more conservative basis for the comparison.

The Austrian portfolio also includes the HOCH gas discovery, where ADX is the operator and holds a 50% economic interest. The HOCH-1 well sits within the ADX-AT-I exploration licence in Upper Austria, and the company also holds ADX-AT-II. Those licences extend the company beyond the producing Vienna Basin fields, although the discovery is still at the testing stage.

The remaining work program and its timing

Three further activities are scheduled. A pump replacement in the Vienna Basin Oil Well is set for the week commencing 16 November, which ADX expects to deliver about 15 BOEPD of incremental production from the GA-072A well. A new production interval at GA-087 is expected to add 30 to 40 barrels of oil per day, with completion scheduled for the week commencing 14 December.

HOCH-1 is the most involved task. Phase 2 testing of the Hall Channel Zone #6 reservoir requires removing the current completion, drilling out a cement plug and re-running a production completion before perforation. ADX has flagged about two weeks of well work ahead of testing. Any delay to that schedule would push back the timing of the results.

Final Word

ADX has reported an early result, but the figures still depend on a restricted sales rate, a gas price that moves with the season and a short flow record. Investors following the company will be watching whether the GA-093 output holds through winter, whether the pump replacement lifts GA-072A as expected, and whether HOCH-1 testing stays on its current timetable. Those milestones will show whether the initial flow translates into sustained production.