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ADX Energy (ASX: $ADX) commissions Anshof Permanent Production Facility

  • Author: Stock Piper

ADX Energy Ltd (ASX: $ADX) announcement overview


ADX Energy Ltd (ASX: $ADX) has successfully installed and commissioned the Anshof Permanent Production Facility (PPF) at the Anshof-3 well site, allowing the recommencement of oil production at an initial rate of 134 barrels of oil per day. The PPF, with a capacity of 3,000 barrels of liquids per day, was installed safely, on time, and within budget, representing a significant milestone for the company.

Executive commentary on Anshof Permanent Production Facility


The newly installed Anshof Permanent Production Facility marks a crucial achievement for ADX Energy Ltd, allowing us to recommence oil production from the Anshof-3 well at an initial rate of 134 barrels of oil per day. The successful installation and commissioning of the PPF within the set timeline and budget demonstrate our commitment to operational excellence and maximizing revenue generation. We are pleased with the increased production capacity and the potential to take advantage of the improved oil price environment, positioning us for sustained growth and value creation.

Summary of ADX Energy Ltd (ASX: $ADX) announcement


ADX Energy Ltd (ASX: $ADX) has achieved a significant milestone with the successful installation and commissioning of the Anshof Permanent Production Facility (PPF) at the Anshof-3 well site. The PPF, with a capacity of 3,000 barrels of liquids per day, has enabled the recommencement of oil production at an initial rate of 134 barrels of oil per day, representing a 16% increase from the previous production rate. The company anticipates that the increased production will substantially enhance revenue and cash flow generation, leveraging the improved oil price environment. ADX's plans to steadily increase oil production from the Anshof-3 well and the potential construction of new production pipelines demonstrate the company's ambitions for sustained growth and operational efficiency. The successful execution of the PPF project underscores ADX's commitment to operational excellence and value creation for its stakeholders.

ADX ENERGY LTD
ADX | ASX | Energy
0.10(+0%)
At close 05/07 (AEDT)
Market cap
$56.8M
Volume
977,010
DY Yield
0
PE Ratio
0
52 Week Range
0.07 - 0.248
1YR Return
525%

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