Australian energy company ADX Energy is accelerating its drilling activities in Austria as it seeks to increase oil and gas production and help strengthen Europe’s energy supply. The company currently produces around 285 barrels of oil equivalent per day (BOEPD) from its Austrian assets and is targeting an additional 1,000 BOEPD through its near-term drilling program. A key focus is the company’s 2026 campaign in Upper Austria, where it is advancing the GOLD-1 and SCHOEN-1 shallow gas wells following the successful HOCH-1 exploration well. Initial drilling costs are estimated at around €3 million, while potential revenues could reach €44 million based on conservative gas price assumptions.
The HOCH-1 well has already encountered several gas-bearing zones, with early testing delivering encouraging results. ADX believes the project could become a commercially attractive new source of gas for the European market. Beyond its shallow gas program, the company is also progressing the Pergen oil prospect, which is estimated to contain significant oil resources and could be developed quickly using existing production infrastructure.
Looking further ahead, ADX continues to advance its larger Welchau project in Austria, which contains both oil and gas potential, as well as exploration opportunities in the Sicily Channel offshore Italy. Together, these projects form part of the company’s strategy to grow production and support Europe’s search for new and reliable energy sources.
For further information on ADX's current Austrian and European projects see links below.
