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Egypt: SDX Energy commences oil production at MSD-25 well, West Gharib concession


17 Mar 2022

Photo - see caption

AIM-listed SDX Energy, the MENA-focused energy company, has announced the commencement of oil production at the MSD-25 infill development well on the Meseda field in its West Gharib concession, Egypt (SDX: 50% working interest). MSD-25, which encountered the primary top Asl Formation reservoir at 4,109ft MD (3,361ft TVDSS) and reached 4,385ft TD on 22 February 2022, after drilling through 84.8ft of good-quality, net oil pay sandstone with an average porosity of 26.1%. The well has now been successfully perforated, tied-in to the existing facilities, and flow tested. It is expected that, post-clean up, the well will achieve a stabilised gross production rate of c.300bbl/d which is in line with pre-drill estimates.

MSD-25 is the second well in a fully funded, up to 13-well development campaign at the Meseda and Rabul oil fields in the West Gharib concession, Egyptian Eastern Desert. The development drilling campaign is aiming to grow gross production to c.3,500 - 4,000bbl/d by early 2023.

The rig is now in the process of moving to the next well in the campaign, MSD-20, with spud expected in the next two to three weeks. In order to take advantage of the high oil price, a second rig will also begin operations to drill the MSD-24 well and accelerate the development plan, with a spud date planned for mid-April.  SDX and its partner will continue to assess the performance of the rigs over the coming months to determine how long both rigs will remain operational on the concession.

Photo - see caption
West Gharib concession (Source: SDX Energy)

Mark Reid, CEO of SDX, commented:

'We are pleased to get MSD-25 quickly and successfully connected to our infrastructure. The well is now producing and, when it has fully cleaned-up, we expect it to contribute c.300bbl/d of gross oil production. Our 13-well development campaign at West Gharib, which we are now accelerating with the contracting of a second rig, provides a low-cost, highly beneficial exposure to the oil price which has generated a netback of US$35/bbl at US$68/bbl Brent in the first nine months of 2021. MSD-25 and the rest of the planned wells are expected to significantly boost the production and cashflow from these fields in the coming months and I look forward to updating the market further as the campaign progresses.'

Original article link

Source: SDX Energy





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