Vox Markets Logo

SDX Energy starts drilling at South Disouq wells

08:34, 14th February 2020
Abraham Darwyne
Company News
TwitterFacebookLinkedIn

SDX Energy (SDX) FOLLOW announced on Friday that drilling operations for the SD-6X (Salah) well have begun in South Disouq.

The Egyptian and Moroccan focused oil and gas firm is targeting to drill to a depth of 9000 feet, and around 71 bcfe of gross unrisked prospective resources, according to its own estimates.

SDX told investors after Salah, it will move the rig to SD-12X (Sobhi) 6 km west, to target around 33 bcfe of gross unrisked prospective resources.

Primary targets for both wells are in the same Kafr el Sheikh and Abu Madi formations that SDX already produces from, and if successful, would require 8km and 5.8km tie-ins to the South Disouq Central Processing Facility.

SDX said the share of the tie-in costs are estimated at $2.5 million and $1.9 million. It has a 55% working interest in the assets at South Disouq.

Shares in SDX ticked up 2.27% to 22.5p during Friday morning trading

SDX price chart


Mark Reid, CEO of SDX, commented: "Salah and Sohbi are very exciting wells for the Company with the potential to more than double the reserves to be processed through the South Disouq gas processing facilities.”

“We now have three rigs drilling simultaneously in Egypt and Morocco and I look forward to providing further updates on these campaigns in due course."

SDX said it is reviewing a number of development concepts depending on the size of any discovery. 

In order to fully produce the targeted resources at Salah and Sobhi, the company said three further development wells would likely be required, two at Salah and one at Sobhi. 

Follow News & Updates from SDX Energy here: FOLLOW

TwitterFacebookLinkedIn

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Recent Articles
Watchlist