ADX Energy Ltd (ASX code: ADX) is an ASX listed European Energy company. ADX operates oil and gas assets in Austria, Romania and Italy as well as a portfolio renewable energy projects in Austria.
ADX activities are focussed on Austria where it has broken into a 75 year duopoly to become one of only three oil and gas producers and one of only two explorers in a country that has produced over a billion barrels of oil and 3 Trillion cubic feet of gas. Austria has a supportive regulatory regime, proven yet largely unrecognised oil and gas resources, and excellent access to existing infrastructure.
ADX currently produces both oil and gas from its Vienna Basin oil and gas fields and is working to bring its Anshof oil discovery in Upper Austria – where it has a dominant 1,022km2 exploration portfolio – into production during the fourth quarter of this year.
A key differentiating factor from its peers is ADX location in the middle of Europe, arguably the most energy hungry region in the world. European natural gas prices have increased to extraordinary levels. The increase in gas price has been due to the combination of strong demand recovery following the COVID-19 pandemic, domestic production constraints and the impact of the Ukraine-Russia conflict.
ADX current activities in Austria include
Planned activities in the coming 12 months include