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SDX Energy details Egypt and Morocco well successes

Last updated: 17:46 21 Jun 2018 AEST, First published: 16:46 21 Jun 2018 AEST

oil and gas operations
In all, SDX has drilled 10 successful well in a 13 well campaign

SDX Energy Inc (LON:SDX, CVE:SDX) has spelt out a number of key details from its largely successful recent operations in Egypt and Morocco ahead of an event at which it will be presenting to sell-side and industry analysts.

Importantly, the growing oil and gas producer highlighted a positive record – three successful wells out of four in Egypt, and, seven successes out of nine wells in Morocco.

"We are pleased to provide an update on our successful drilling campaigns in South Disouq and Morocco,” said Paul Welch, SDX chief executive.

WATCH: SDX Energy makes new gas discovery at South Disouq project

“We are looking forward to first gas in South Disouq expected at the end of the year and are excited by the new Kafr El Sheik prospectivity that we have identified in the concession” he said in relation to the Egypt assets. 

“In addition, we have started to review rig options for a 2019 drilling campaign to target the additional gas and oil prospectivity that we have now confirmed exists in up to six separate locations within the concession.”

It is anticipated that the final well in the 2018 Egypt campaign will be spud in late June or early July, with the SD-3X well due to assess Abu Madi prospectivity close to the SD-1X and SD-4X discoveries.

The programme will lead on to the expected start of production from South Disouq at the end of 2018.

Based on well results, the company is anticipating a ramp up to a plateau rate of 55mln to 60mln cubic feet per day of conventional natural gas and 500 to 600 barrels of condensate per day over the first four years of the project – for at least 100bn cubic feet and 1mln barrels gross from South Disouq.

Welch added: “In Morocco, we have identified a significant volume of low risk/high value drilling opportunities which we will be targeting in our next drilling campaign during 2019, as we continue to grow our customer base and meet local gas demand. 

“We expect the upcoming 3D seismic acquisition to further de-risk this prospectivity and we look forward to the commencement of our drilling campaign in the Spring of 2019."

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