AleAnna Targets Early 2027 for First Gas From Its Wholly Owned Gradizza Field

AleAnna, Inc. (ANNA) says initial production from its Gradizza gas field in northern Italy is targeted for the first quarter of 2027. Gradizza would be the company's first fully owned and operated producing property.

What is planned

Gradizza, in the Province of Ferrara, is held 100% by AleAnna. The company plans a single well, a compact processing facility and a short pipeline link to the SNAM gas transmission system.

Italy's environment and energy ministry granted a 20-year production concession in January 2026. The company called it the final approval needed before first production. Production can start shortly after a 12-month seismic and subsidence monitoring study is submitted and approved. AleAnna said that study had already begun.

The approval of that study is a gating item, and the company has not said when it expects to file it. Any delay there could push first gas past the first quarter of 2027.

What it holds

The company's latest Gradizza gas reserve estimate is 0.703 billion cubic feet (bcf) on a P50 basis, meaning a median-case figure. In January, AleAnna also said new reservoir analysis pointed to additional, previously unevaluated pay zones at Gradizza, Longanesi and Trava. If those are confirmed in later reports, the field's reserves could change. The company has not stated by how much.

Other milestones

• Longanesi field: a permanent processing facility is under construction and is being installed in phases during 2026. The company expects completion and commissioning in early 2027.
• Casalino (formerly Fattoria Delle Jersey): construction to upgrade an existing facility to biomethane is due to begin in 2026. The company has given only the year, not a specific date.

Finances

AleAnna reported revenue of $10.2 million and net income of $2.4 million for the quarter ended June 30, 2026, up from $9.3 million and $2.1 million in the prior quarter. In May it filed a final prospectus for a registered offering. In its forward-looking statements the company lists its need for additional capital among the factors that could change its results.

What to watch

The main markers are approval of the Gradizza monitoring study, completion of the Longanesi facility, and the start of Casalino construction. Each timeline is a company target, and the company says actual results may differ materially.