ONZ-7 Results Confirm Sebou Permit can be 'Highly Cash Generative'
The latest results of the ONZ-7 well onshore Morocco confirm that the Sebou permit has the potential to be ‘highly cash generative’ for SDX Energy Inc, according to the company’s president and CEO, Paul Welch.
The North Africa focused oil and gas company announced Tuesday that ONZ-7 had achieved an average flow rate of conventional natural gas of 10 million cubic feet per day (mmcfpd) in a recent test, as well as a maximum flow rate of 15.34 (mmcfpd).
“This provides us with further confidence in being able to deliver our gross production target of 8-10 mmcfpd of conventional natural gas in Morocco by the end of 2018,” Welch said in a company statement.
ONZ-7 will now be shut in for several days ‘for a pressure build-up’, SDX said, after which it will be connected to local infrastructure.
Oil and gas analysts at GMP FirstEnergy described the flow test at ONZ-7 positively, noting that this was the company’s strongest flow rate in Morocco to date.
“This demonstrates the company’s ability to increase production in Morocco at short notice, to meet any increases in demand,” the analysts said in a statement sent to Rigzone.
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