SDX Give Operations Update on Egypt and Morocco

Posted On February 13th, 2018 - 12:08 pm | by Oil and gas press

SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, provided an operations update.

Egypt

The Company has signed a rig contract for the ST-6 rig with Sino-Tharwa Drilling Company (“Sino-Tharwa”) for its Ibn Yunus-1X exploration well at South Disouq, Egypt. The agreement is for four firm wells and one contingent well. Sino-Tharwa’s ST-6 rig is currently drilling for another operator and is anticipated to be released in late February 2018 from a location in the Western Desert, Egypt. It will then be mobilized to the Ibn Yunus prospect location. Following inspection and rig up, the well is anticipated to be spud in mid-March 2018.

Operations at the Ibn Yunus-1X well are anticipated to take 30 – 40 days and will be targeting the same Abu Madi conventional natural gas bearing intervals that were discovered in the SD-1X well in April 2017. After Ibn Yunus, the rig will move to the SD-1X discovery, where it will drill two appraisal wells, before moving on to the Kelvin-1X exploration prospect.

SDX is also announced that it has spud its Rabul 5 development well on the West Gharib Concession, Egypt. The Rabul 5 well is the first of two development wells planned for the field this year. The well is targeting both the Bakr and Yusr oil bearing intervals found in the Rabul 1 and 2 wells. Operations for Rabul 5 are anticipated to take approximately 30 days.

Morocco

Drilling has been delayed at the Company’s KSS-2 development well due a failure of the top drive unit on the rig. The unit is currently being repaired, with drilling set to recommence later today. The Company expects the well to reach its target depth within the next 7 to 10 days. Well costs are not anticipated to be materially changed as the rig has been on zero rate while repairs on the top drive unit are being carried out.

Source / More: SDX Energy

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