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(Alliance News) - SDX Energy PLC on Monday said it completed drilling at the MSD-24 infill development well at the Meseda field in the 50% owned West Gharib concession in Egypt.
The London-based oil and gas company said the well encountered 86.5 feet of "good-quality", net oil pay sandstone, with an average porosity of 19% in the Asl Formation reservoir.
It said MSD-24 will now be tied-in to the existing facilities and flow tested.
MSD-24 is the fourth well in a fully-funded, 13-well development campaign on the Meseda and Rabul oil fields in the West Gharib concession.
Operations at the third well, MSD-20, continue, SDX added. The rig will now move to the next well in the campaign, MSD-27, which is expected to spud in July.
The development drilling campaign is aimed at growing production to between 3,500 to 4,000 barrels per day by mid-2023.
Chief Executive Mark Reid says: "The logs from MSD-24 are encouraging and the well will now be connected to our infrastructure and flow tested. We will update the market on the results of this in the coming weeks. With oil price now at multi-year highs, West Gharib is a very high margin asset in our portfolio and MSD-24 and subsequent wells will boost production and cashflow from these fields in the coming months."
By Heather Rydings; heatherrydings@alliancenews.com
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