SDX Hits Gas Onshore Egypt
North Africa focused oil and gas company, SDX Energy Inc., announced Monday that a gas discovery has been made at its onshore SD-3X well, in Egypt’s South Disouq Concession.
The well was drilled to a total depth of 7,842 feet and encountered 32.6 feet of net conventional natural gas pay in the Abu Madi and Kafr el Sheik horizons, SDX said in a company statement. SD-3X will now be completed as a producer in the Abu Madi horizon and then tested after the drilling rig has moved off location.
“The discovery of gas in both the Abu Madi and Kafr el Sheik horizons is a very positive outcome for the SD-3X well,” Paul Welch, president and CEO of SDX, said in a company statement.
“We will now analyze the data from all four wells drilled in the South Disouq campaign, as well as reprocessing and inverting the existing 3D seismic we have on the concession. Upon interpretation of this data, and completion of the new 3D survey later this year, we expect to identify further Abu Madi and Kafr el Sheik prospectivity for drilling in 2019 and 2020,” he added.
Commenting on SDX’s latest news, Ashley Kelty and Jack Allardyce, oil and gas research analysts at Cantor Fitzgerald Europe, said the latest discovery was a “great boost” for the company.
SDX holds a 55 percent working interest in, and operatorship of, the South Disouq Concession.
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