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SDX makes gas discovery on Egypt well

Mon, 23rd Jul 2018 15:12

(Sharecast News) - North Africa-focussed oil and gas company SDX Energy announced on Monday that a gas discovery has been made at its SD-3X well in the South Disouq Concession in Egypt, where it holds a 55% working interest as the operator.

The AIM-traded firm said SD-3X well was drilled to a total depth of 7,842 feet, and encountered 32.6 feet of net conventional natural gas pay in the Abu Madi and Kafr el Sheik horizons, with an average porosity in the pay sections of 21.7%.

It said the SD-3X well would now be completed as a producer in the Abu Madi horizon, and then tested after the drilling rig was moved off location.

In order to optimise the potential recovery from the SD-3X well, the Abu Madi horizon would be completed and produced initially before re-entering the well to complete and produce the Kafr el Sheik horizon.

The Abu Madi testing was anticipated to begin between 30 and 45 days after the rig departed, depending on the availability of testing equipment.

Assuming a successful test in the Abu Madi, SDX said it anticipated that the well would be connected to the infrastructure located adjacent to the original SD-1X discovery, where production start-up was anticipated late in the fourth quarter of 2018.

"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 SDX president and CEO Paul Welch.

"As demonstrated by the Ibn Yunus discovery earlier this year, the Kafr el Sheik horizon is an excellent quality productive sequence."

Welch said the SD-3X discovery had confirmed that the horizon was "extensively present" throughout the concession.

"We will now analyse the data from all four wells drilled in the South Disouq campaign, as well as reprocessing and inverting the existing 3D seismic we have on the concession.

"Upon interpretation of this data, and completion of the new 3D survey later this year, we expect to identify further Abu Madi and Kafr el Sheik prospectivity for drilling in 2019 and 2020.

"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."

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11 Dec 19 18:16

SDX Energy's South Disouq Hits Production Rate Target 3 Months Early

SDX Energy's South Disouq Hits Production Rate Target 3 Months Early

10 Dec 19 14:19

SDX Energy reaches stabilised production rate early at South Disouq

(Sharecast News) - Middle East and North Africa-focussed oil and gas company SDX Energy has achieved its targeted stabilised plateau production rate of 50 million standard cubic feet per day from its operated South Disouq concession in Egypt, where it has a 55% working interest, about three months earlier than initially expected, it announced on Tuesday.

10 Dec 19 13:19

SDX Energy Third Quarter Revenue Drops On Oil And Service Fee Decline

SDX Energy Third Quarter Revenue Drops On Oil And Service Fee Decline

22 Nov 19 15:05

SDX Energy revenues slip as it continues development strategy

(Sharecast News) - Middle East and North Africa-focussed oil and gas company SDX Energy released its third quarter financial and operating results on Friday, reporting that production for the nine months ended 30 September increased to 3,501 barrels of oil equivalent per day net to SDX, compared with 3,455 barrels per day for the same period in 2018.

22 Nov 19 09:31

SDX Energy Names Shareholder Waha Capital's Boss As Non-Executive

SDX Energy Names Shareholder Waha Capital's Boss As Non-Executive

20 Nov 19 14:14

SDX Energy begins production at South Disouq concession

(Sharecast News) - Oil and gas explorer SDX Energy has commenced production at the South Disouq concession in Egypt, with all four discovery wells now hooked up to the central processing facility.

12 Nov 19 10:06

SDX Energy Starts South Disouq Production, Makes Interim CEO Permanent

SDX Energy Starts South Disouq Production, Makes Interim CEO Permanent

12 Nov 19 09:24

SDX Energy Begins 12 Well Drilling Programme In Morocco

SDX Energy Begins 12 Well Drilling Programme In Morocco

25 Oct 19 11:46

SDX Energy to start 12-well drilling campaign in Morocco

(Sharecast News) - Middle East and North Africa-focussed oil and gas company SDX Energy announced the start of a 12-well drilling campaign on Friday, targeting a mean 15 billion cubic feet of gross unrisked prospective resources, in its operated Gharb Basin acreage in Morocco, where it has a 75% working interest.

25 Oct 19 11:22

SDX Energy Makes Another Oil Discovery On Egyptian Licence

(Alliance News) - SDX Energy PLC on Wednesday announced the discovery of commercial oil at the West Gharib concession in Egypt.Drilling at the MSD-19 development well, in which it has 50% a

18 Sep 19 14:29

SDX Energy makes solid development progress as it swings to loss

(Sharecast News) - North Africa-focussed oil and gas company SDX Energy reported net revenues of $25m (£20.62m) in its first half on Thursday - a year-on-year improvement of 4% - with higher production reportedly compensating for lower net realised average oil and service fees of $57 per barrel of oil equivalent, down from $62 per barrel in the first half of 2018.

22 Aug 19 11:24

SDX Energy Makes Progress Towards Objectives As Output Rises

(Alliance News) - SDX Energy PLC on Thursday said an improvement in production in the first half of 2019 was offset by lower oil price and increased expenses.The oil & gas company said

22 Aug 19 10:14

SDX Energy Completes First Of Three Milestones At South Disouq, Egypt

(Alliance News) - SDX Energy PLC said Monday it is on track and on budget at South Disouq, Egypt, having completed the first of the three project milestones.SDX has a 55% interest in the of

8 Jul 19 12:18

SDX Energy Discovers Oil At Rabul-7 Development Well In Egypt

(Alliance News) - North Africa-focused oil & gas firm SDX Energy PLC said Wednesday it has made an oil discovery at the Rabul-7 development well in the West Gharib Concession in Energy holds a

26 Jun 19 12:35

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