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SDX Energy unearths further gas discoveries at South Disouq

The latest well at South Disouq hit two gas reservoirs, adding further scale to the up and coming field

oil and gas operations
South Disouq is due online in the fourth quarter

SDX Energy Inc (LON:SDX) has announced another new discovery at the South Disouq project in Egypt.

The SD-3X well was drilled down to a depth of 7,842 feet and it encountered 32.6 feet of net conventional natural gas pay, in the Abu Madi and Kafr el Sheik horizons.

It will now be completed as a producer in the Abu Madi horizon, testing will follow once the drilling rig has demobilised from the site. After the Abu Madi is in production there will be subsequent work to complete the Kafr el Sheik for production.

READ: SDX Energy lands US$10mln funding with EBRD

The company expects the Abu Madi testing phase to start between 30 and 45 days after the rig departs.

The South Disouq field is due to come online for production in the fourth quarter of this year.

"The discovery of gas in both the Abu Madi and Kafr el Sheik horizons is a very positive outcome for the SD-3X well,” said Paul Welch, SDX chief executive.

“As demonstrated by the Ibn Yunus discovery earlier this year, the Kafr el Sheik horizon is an excellent quality productive sequence.  The SD-3X discovery has confirmed that this horizon is extensively present throughout the concession.”

He added: “With our drilling activities completed, we will now focus on the completion of the South Disouq processing facility and pipeline infrastructure with a view to achieving first production by the end of 2018."

Welch also highlighted that further exploration drilling will target the Abu Madi and Kafr el Sheik in 2019 and 2020.

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Price: 14 GBX

Market: AIM
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on 9/4/19

2 min read