AIM-listed SDX Energy, the MENA-focused energy company, has announced the completion of drilling at the MSD-24 infill development well on the Meseda field in its West Gharib concession, Egypt (SDX WI: 50%). MSD-24 encountered the primary top Asl Formation reservoir at 4,089ft MD (3,276ft TVDSS) and reached a TD of 4,625 feet MD on 5 June 2022. The well encountered 86.5 feet of good-quality, net oil pay sandstone, with an average porosity of 19% in the Asl Formation reservoir. MSD-24 will now be tied-in to the existing facilities and flow tested.
MSD-24 is the fourth well in a fully-funded, 13-well development campaign on the Meseda and Rabul oil fields in the West Gharib concession, Egyptian Eastern Desert. Operations at the third well, MSD-20, are continuing. The development drilling campaign is aimed at growing production to c.3,500 - 4,000 bbl/d by mid-2023.
The rig will now move to the next well in the campaign, MSD-27, which is expected to spud in July 2022.
Mark Reid, CEO of SDX, commented:
'The logs from MSD-24 are encouraging and the well will now be connected to our infrastructure and flow tested. We will update the market on the results of this in the coming weeks. With oil price now at multi-year highs, West Gharib is a very high margin asset in our portfolio and MSD-24 and subsequent wells will boost production and cashflow from these fields in the coming months. I look forward to updating the market further as the campaign progresses.'
Source: SDX Energy