{"id":6987,"date":"2024-03-11T21:42:34","date_gmt":"2024-03-11T21:42:34","guid":{"rendered":"https:\/\/economicherald.net\/?p=6987"},"modified":"2024-03-11T21:42:34","modified_gmt":"2024-03-11T21:42:34","slug":"drilling-of-adx-energys-major-welchau-1-gas-exploration-well-is-speeding-ahead-of-plans","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6987","title":{"rendered":"Drilling of ADX Energy\u2019s major Welchau-1 gas exploration well is speeding ahead of plans"},"content":{"rendered":"<p>Drilling of ADX Energy\u2019s Welchau-1 gas exploration well progressing faster than expected<br \/>\nFracturing noted in carbonate reservoirs, a good sign for future productivity<br \/>\nMinor hydrocarbon shows noted in the shallower Lunz Formation<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Drilling of ADX Energy\u2019s potentially transformational Welchau-1 gas exploration well in the ADX-AT-II exploration licence in Upper Austria is progressing faster than expected.<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>Welchau has a best technical prospective resource of 807 billion cubic feet equivalent (Bcfe) of gas and is hosted in relatively shallow\u00a0reservoirs updip of the nearby Moln-1 gas discovery that flowed 4 million cubic feet of pipeline quality gas per day during testing.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/adx-energy-adx\/\"><strong>ADX Energy\u2019s (ASX:ADX)<\/strong><\/a> drill costs are partly funded by partner MCF Energy, which is paying up to half to a cap of \u20ac5.1 million in return for a 25% interest in the Welchau Investment Area, reducing the company\u2019s drill risk.<\/p>\n<p>Any successful discovery is expected to result in a development decision as Europe is keen to purchase gas from domestic sources rather than relying on imports.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Positive signs<\/strong><\/h2>\n<p>Welchau-1 is currently at a depth of 1,028m \u2013 about four days ahead of the well plan due to better than expected <a href=\"https:\/\/stockhead.com.au\/energy\/adx-energy-drilling-key-welchau-1-gas-well-in-upper-austria\/\"><strong>drilling<\/strong><\/a> penetration rates.<\/p>\n<p>\u201cQuick look\u201d interpretation of image and dip logs taken in the 12 1\/4 inch open hole section confirms the well intersected a large north-verging anticline close to the crest of the structure.<\/p>\n<p>Notably, carbonate formations intersected to date have demonstrated evidence of fracturing, faulting and gentle folding which is the result of deformation predicted at the crestal location of the Welchau anticline structure.<\/p>\n<p>This is promising as fractures are essential for enhanced productivity in carbonate reservoirs.<\/p>\n<p>Adding further interest, minor hydrocarbon shows have been encountered in the carbonate formations with up to 0.1765% methane, ethane and propane noted in the Lunz Formation where 9 5\/8 inch casing has been set.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>The plan ahead<\/strong><\/h2>\n<p>ADX is currently drilling out of the 9 5\/8 inch casing at a depth of 1,028m in the 8 1\/2 inch hole.<\/p>\n<p>It will then drill ahead to the main target which is between 1,100m and 1,800m measured depth.<\/p>\n<p>\u00a0<\/p>\n\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with ADX Energy, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/energy\/drilling-of-adx-energys-major-welchau-1-gas-exploration-well-is-speeding-ahead-of-plans\/\">Drilling of ADX Energy\u2019s major Welchau-1 gas exploration well is speeding ahead of plans<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Drilling of ADX Energy\u2019s Welchau-1 gas exploration well progressing faster than expected Fracturing noted in carbonate reservoirs, a good sign for future productivity Minor hydrocarbon <a href=\"https:\/\/economicherald.net\/?p=6987\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6988,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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