SDX Energy has announced that drilling on the carried SD-1X well at its South Disouq concession has reached its first target depth.
SDX holds a 55% equity interest, as well as operatorship in South Disouq concession, in the Nile Delta area of Egypt.
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The SD-1X well is targeting gas in the upper Abu-Madi section, and oil from the deeper Abu Roash and AEB horizon.
Drilling has been carried out to a depth of 7,777ft, reaching its first target depth in Abu Madi.
The company has announced that it encountered conventional natural gas bearing horizons in Abu Madi during drilling phase.
The well encountered 65ft of net pay section, with an average porosity of 25%.
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By GlobalDataThese achieved results are in line with the pre-drill estimates. Additional evaluation work is currently underway to provide an accurate recoverable volume estimate.
The oil drilling will now be continued to the deeper Abu Roash and AEB sections.
SDX president and CEO Paul Welch said: "It is clearly very encouraging to have made a gas discovery at the first of SD-1X’s target intervals. The 3D seismic data acquired and interpreted over the South Disouq concession has provided a very accurate view of the subsurface as the target interval has come in on prognosis.
“This provides us with additional encouragement for the deeper horizons where we are targeting oil. Any production testing of the Abu Madi or one of the deeper horizons will be undertaken after drilling operations have been completed and the rig has moved off location.
“South Disouq is one strand in the SDX story. We have a diverse portfolio of assets in Egypt and Morocco, including further exploration opportunities.
"Irrespective of whether we have further success at SD-1X in the deeper horizon, this gas discovery and the ongoing development and facilities upgrades across our asset portfolio mean that we remain on track to build our production profile and maximise the value from our producing, development and exploration asset base.
"I am optimistic about our ability to deliver for our shareholders and also in the deeper sections of this well and look forward to reporting on our results in due course.”
SDX is an international oil and gas exploration, production and development company, headquartered in London, England, with a principal focus on North Africa.
