Petroleum Africa
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Sunday, June 24, 2018
SDX Energy provided an update on its drilling activities in Egypt on the South Disouq and in Morocco. The company has seen significant success while drilling in both countries.
On Egypt’s South Disouq the company saw success with three out of the four wells drilled. The SD-1X and SD-4X discoveries confirmed prospectivity in the Abu Madi horizon, and the Ibn Yunus-1X discovery identified additional prospectivity in a new play horizon, the Kafr el Sheik.
SDX’s final well, the SD-3X, is set to spud in late June/early July targeting Abu Madi prospectivity close to the SD-1X and SD-4X discoveries. This will complete the company’s current drilling campaign on the concession prior to expected first production at the end of 2018.
At this time, based on the discoveries and well testing at SD-1X and Ibn Yunus-1X, the company is targeting a minimum of gross 100 bcf of conventional natural gas and 1 million barrels of condensate with an anticipated plateau production rate of around 55-60 Mmscf/d of conventional natural gas and about 500-600 barrels of condensate per day for the first four years.
Data from all five recent wells will be used to recalibrate the existing 3D seismic interpretation to improve future identification of gas bearing traps in both the Abu Madi and the Kafr el Sheik. SDX said that at present five, drill ready, conventional natural gas prospects targeting more than 90 Bcf (unrisked) have been identified in the Kafr el Sheik and Abu Madi horizons and one, drill ready, oil prospect targeting up to 50 million barrels of conventional light crude oil (unrisked) has been identified in four stacked, individual, deeper Cretaceous targeted STOIIPs ranging from a mean of about 33 million barrels to 55 million barrels with chances of success ranging from 22%-29%;
In addition, a further eight gas leads have been identified on the current 3D in the Kafr el Sheik, which are targeting up to 1 Tcf (unrisked) of conventional natural gas. Several additional oil leads have also been identified in the deeper Cretaceous reservoirs. The company anticipates acquiring up to 170 sq km of 3D in Q4 targeting further Abu Madi and Kafr El Sheik prospectivity.
Over in Morocco SDX’s 2017/2018 drilling campaign was completed with seven successful wells out of the nine drilled. The LNB-1 and LMS-1 discoveries have confirmed the company’s views on the prospectivity of the Lalla Mimouna acreage and opened a sizeable portion of the Rharb Basin to further exploration.
Currently SDX is in the final planning stages of its upcoming 240 sq km Gharb Centre 3D seismic. The company anticipates that the survey will commence in early-July.
12 drill-ready gas prospects targeting in excess of 20 Bcf (unrisked) of conventional natural gas have been identified across the acreage for a Q1 2019 drilling campaign, to be potentially refined and complemented by the new 3D seismic data. In addition to the drill ready prospects SDX has identified more than 60 further leads across the basin, which will be derisked by the upcoming 3D survey.
Paul Welch, President and CEO of SDX, commented “We are pleased to provide an update on our successful drilling campaigns in South Disouq and Morocco.
“We are looking forward to first gas in South Disouq expected at the end of the year and are excited by the new Kafr El Sheik prospectivity that we have identified in the concession. In addition, we have started to review rig options for a 2019 drilling campaign to target the additional gas and oil prospectivity that we have now confirmed exists in up to six separate locations within the concession.
“In Morocco, we have identified a significant volume of low risk/high value drilling opportunities which we will be targeting in our next drilling campaign during 2019, as we continue to grow our customer base and meet local gas demand. We expect the upcoming 3D seismic acquisition to further de-risk this prospectivity and we look forward to the commencement of our drilling campaign in the Spring of 2019.”
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