SDX Energy Share News (SDX)

(Sharecast News) - Oil and gas company SDX Energy on Friday confirmed that a production test has successfully been completed at its SD-3X appraisal well at South Disouq, Egypt.The firm, which is the operator of and has a 55% working interest in South Disouq, said the well flowed at a maximum rate of 16.1m metric standard cubic feet per day of conventional natural gas during an eight-hour period, with no pressure decline detected afterwards.Two six-hour periods saw rates of 5.3 MMscfd and 8.4 MMscfd, while a 12-hour test saw an average rate of 10.5 MMscfd.A total of 12.02 MMscf of conventional natural gas was produced throughout the testing process.Paul Welch, president and chief executive of SDX, said: "We are very pleased with the test results of the SD-3X well as it exceeded our expectations. The well is located the furthest down dip on the structure and had the least amount of pay when compared to the two offset wells. We therefore limited both the test duration and peak rates to ensure that no damage was done."Currently, the well has been shut down for a 96-hour pressure build-up, which will be followed by retrieval of downhole pressure gauges and well suspension prior to connection to local production facilities."We are now very confident that we can achieve the peak rates at the planned facility at South Disouq of 60MMscfd of conventional natural gas with our current well stock. We intend to connect this well to infrastructure located adjacent to our SD-1X discovery over the coming months. We are targeting a late Q4 2018 start-up of production in South Disouq," said Welch.SDX's shares were up 4.55% at 57.50p at 1632 BST.