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Thursday, September 19, 2019
SDX Energy’s MSD-19 development well on Egypt’s West Gharib Concession has been deemed a discovery. In a statement, the company said the well encountered a commercial oil accumulation.
The well was drilled to a total depth of 4,665 ft and encountered approximately 135 ft of net heavy oil pay across the Asl Formation, with an average porosity of 24%. The well was completed as a producer, connected to the central processing facilities at Meseda and brought online at an average stabilized rate over five days of approximately 315 bpd.
Mark Reid, CFO and Interim CEO of SDX, commented, “We are pleased to announce a further drilling success with our MSD-19 well in the West Gharib Concession, which follows the positive result in the Rabul-7 well in June. The well was brought online in a timely and cost-efficient manner and will provide further support to our 2019 production guidance for this asset of gross 4,000-4,200 bpd. Further development wells are planned for the Concession in the next 18 months, with the final location of these wells being dependent on government approvals. A further update on future drilling will be provided to the market in due course.”
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