SDX Launches Onshore Morocco Campaign
SDX Energy Plc reported Friday that it has begun a 12-well drilling campaign in operated onshore acreage in Morocco’s Gharb Basin.
In a written statement emailed to Rigzone, SDX – which holds a 75-percent working interest in the license – noted that it is targeting a mean 15 billion cubic feet of gross unrisked prospective resources. It added that it has secured “an advanced North American rig” for the campaign.
“The 12 wells have three key objectives,” commented Mark Reid, SDX’s CFO and interim CEO. “The first objective is to drill seven lower-risk wells in our existing core production area. These wells are close to existing infrastructure and will increase reserves for the continued supply our gas to our existing customers.”
The first seven wells are located in SDX’s core producing concessions at Sebout and Gharb Centre, stated SDX. The firm noted the wells can be tied in quickly and at low cost, adding their geological risk resembles that of nearby producing discoveries.
“Our second objective is to drill two step-out exploration wells to the north of our core production area which, if successful, would open up new, target-rich acreage for future drilling,” continued Reid. “The final objective of the campaign is to test larger but higher-risk prospects in the Lalla Mimouna Nord concession.”
In Lalla Mimouna, SDX plans to drill up to three wells, Reid said.
“(H)owever, if the first well does not meet our expectations, we may move the rig back to our core producing area and complete the campaign by drilling two further lower-risk, but smaller, prospects to add additional reserves,” he added.
SDX, which highlights the locations of its Morocco acreage on its website, anticipates the 12-well campaign to conclude in the first quarter of 2020.
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