Anshof-3
Overview
In 2022, Xstate particpated in the Anshof-3 exploration well in Austria. The Anshof Prospect is situated in the eastern margin of the Molasse Basin and is a thrusted anticline defined on 3D seismic. Xstate has earned a 20% working interest in the Anshof Prospect Area.
Austria: Anshof Production – Xstate 20% working interest
The Anshof-3 exploration well is located in the ADX-AT-II license in Upper Austria. In January 2022 it encountered oil in the Eocene oil reservoirs and was subsequently flow tested in May 2022. An extended production test commenced on 16 October 2022 using a lease production unit. The well produced at a stable rate of 120 bbl/d in the first quarter of production, to 31 December 2022. The well delivered water-free 33o API crude oil, the quality of which meets all required specifications of the OMV refinery.
The Anshof-3 well produced a steady average of 114 BOPD gross through Q2 and Q3 of calendar 2024 (23 BOPD net to Xstate) until it was shut in on 19th September 2023. It is anticipated to produce at a comparable level once production recommences.Company’s total net share of production from Anshof-3 in 2023 was 5,960 bbl.
Production at the Anshof-3 well was suspended on the 19th September 2023 as a result of ADX (“the operator”) commencing drilling of the Anshof-2 well, installation of a permanent production facility and reaching the regulatory production limited of 5,000 Tonnes (36,000 barrels) during its test production period. Anshof-3 production is anticipated to recommence after the installation of a permanent production facility is completed, expected in March 2024.
Xstate announced its non-participation in the Anshof-2 well on 6 November 2023.
