Elixir Energy (ASX:EXR) Diona-1 well update advances Surat-Bowen Basin operations
May 4, 2026Elixir Energy (ASX:EXR) has reported a Diona-1 well update, confirming completion of stimulation activities across all target zones at its Surat-Bowen Basin project, with gas observed during flowback as operations move into completion and testing.
Highlights
- Stimulation completed across all target zones in the Diona-1 well
- Gas observed during post-stimulation flowback alongside return fluids
- Milling operations under way ahead of production completion
- Flow testing and pressure monitoring to commence post completion installation
- Well located adjacent to existing pipeline infrastructure and gas processing network
Diona-1 well update
The Elixir Energy ASX EXR Diona-1 well update confirms completion of the fracture stimulation phase, with all target zones successfully treated and stimulation equipment now demobilised.
During the flowback period following stimulation, gas was observed alongside return fluids as part of ongoing operations ahead of the next phase.
Current activity is focused on finalising milling operations using coiled tubing, after which a workover rig will rig up and run the production completion, with flow testing and pressure monitoring to follow installation.
Surat-Bowen Basin gas project context
The Diona-1 well is located within the ATP2077 Diona sub-block in Queensland’s Surat-Bowen Basin, where Elixir holds a 49% interest alongside joint venture partner Xstate Resources.
The well is positioned between the Silver Springs Gas Plant and the Waggamba gas field and is adjacent to the Waggamba to Silver Springs pipeline.
The well pad is located less than 100m from the pipeline, with an above ground tie-in point approximately 1,000m away.
This pipeline connects via the Silver Springs Gas Plant to the Wallumbillia Gas Hub, the pricing point for eastern seaboard gas sales.
The current phase of operations reflects progression from stimulation to completion and testing.
With stimulation complete, the focus shifts to installing production completion infrastructure before initiating flow testing and pressure monitoring.
Separately, Elixir Energy is the largest acreage holder in the Taroom Trough in Queensland’s Bowen Basin and is aiming to appraise approximately 3.5 TCF of independently certified 2C contingent gas resources, as referenced in recent ASX company announcements.
Next steps are defined by completion of milling operations, installation of the production completion, and commencement of flow testing and pressure monitoring at the Diona-1 well.
These activities represent the immediate operational sequence as outlined in the company’s latest ASX company announcement.
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