Po Valley Announces Successful Testing at Gradizza-1

Po Valley Energy announced it successfully completed rigless testing at the Gradizza-1 gas discovery in Italy.

‘Testing was completed over 5 days on different chokes. Flow rates stabilised at ~15,000 standard cubic metres/day with a 3/16" choke increasing by 114% or ~8,000 standard cubic metres/day compared to the test carried out post completion. Well pressure following build up and shut in recovered quickly and no formation water was associated with gas production,’ reads the note released on Wednesday. 

The Gradizza structure is located in the Ferrara province north of Bologna and consists in a sandstone Quaternary target at a total measured depth of 1,000 metres. The company has commenced drilling activities in mid August. The discovery was drilled in September. 

Po Valley Energy is an oil and gas production and exploration company listed on the Australian Stock Exchange. It has an expanding portfolio of hydrocarbon assets in northern Italy.