Business · Companies · 7 hrs ago
ADX more than doubles Pergern oil estimate in Austria
Australian company ADX Energy raised Pergern’s mean oil estimate to 6.1 million barrels, up from 2.4 million, after revising its interpretation of the prospect in Upper Austria.
The estimate is prospective, meaning it describes oil that might be found rather than a confirmed discovery.
ADX’s updated inventory covers 28 prospects across two permits and includes estimates of 579 billion cubic feet of gas and 59 million barrels of oil and condensate.
The company is also pursuing drilling near its producing Anshof field, where an existing facility can process up to 3,000 barrels of liquids a day.
ADX plans to drill the shallow GOLD-1 gas well in January 2027, following a gas discovery at the nearby HOCH-1 well.
It also plans to drill the Pergern near-field oil prospect in 2027 and to deepen the Welchau-1 well in late 2027.
Success could add production near existing infrastructure, while further drilling and seismic work will help ADX assess its prospects.
ADX Energy raised its mean prospective oil resource estimate for the Pergern prospect in Upper Austria to 6.1 million barrels from 2.4 million.
The company said it refined its interpretation of the prospect’s structure and faults.
Its updated inventory covers 28 prospects across the ADX-AT-I and ADX-AT-II permits, spanning 1,022 square kilometres.
ADX plans to drill the GOLD-1 shallow gas well in January 2027 and a near-field oil prospect by Anshof in 2027.
A new Pergern discovery could use the existing Anshof processing facility, which can handle 3,000 barrels of liquids a day.
- Who
- ADX Energy, an oil and gas company.
- What
- It more than doubled its mean prospective oil resource estimate for Pergern to 6.1 million barrels.
- When
- The estimate was reported on 10 November 2026. ADX plans to drill at Pergern in 2027.
- Where
- The Pergern prospect in Upper Austria, near the Anshof oil field.
- Why
- ADX refined its interpretation of the prospect’s structure and faults.
This story does not have two clearly opposing sides.
ADX refined its interpretation of Pergern’s structure and faults.
Stockhead reported that ADX had raised Pergern’s mean prospective oil resource estimate from 2.4 million to 6.1 million barrels.
ADX plans to drill the GOLD-1 shallow gas well.
ADX plans to drill the Pergern near-field oil prospect.
- Pergern estimate
- 6.1 million barrels, up from 2.4 million
- Inventory area
- 1,022 square kilometres across ADX-AT-I and ADX-AT-II
- Updated inventory
- 579 Bcf of gas and 59 million barrels of oil and condensate in unrisked net mean prospective resources
- Anshof facility capacity
- 3,000 barrels of liquids a day
- GOLD-1 target
- January 2027
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What people are saying
In the near term, ADX exploration activities continue to focus on the potentially extensive, low risk Shallow Gas Play following up on our successful HOCH-1 well discovery with the GOLD-1 well planned to be drilled in January 2027
These play types, which are low risk and proximal to infrastructure, provide excellent opportunities to increase the company’s cash flow base in the near term.