by Andreas Exarheas
Wednesday, March 14, 2018
SDX Energy Inc. makes an onshore oil discovery at its Rabul 5 well in Egypt’s West Gharib Concession.
North Africa focused oil and gas company SDX Energy Inc. has made an onshore oil discovery at its Rabul 5 well in Egypt’s West Gharib Concession.
The well was drilled to 5,280 feet, total depth, and encountered approximately 151 feet of net heavy oil pay across the Yusr and Bakr formations, with an average porosity of 18 percent.
Further evaluation of the discovery is ongoing, SDX said, after which the company expects the well to be completed as a producer and connected to central processing facilities at Meseda.
Paul Welch, president and CEO of SDX, said the well demonstrated the significant oil potential contained within the license.
“We are pleased to continue our recent run of drilling success with this oil discovery at Rabul 5. This well encountered the thickest section of pay sands seen in the Rabul area to date,” Welch said in a company statement.
“We have further drilling activity planned for the concession over the coming months and we firmly believe that these activities will enable us to increase output from the license and achieve our ambitious production plans for 2018,” he added.
Following the completion of the Rabul 5 well SDX plans to move on to the Rabul 4 location, the second of two appraisal wells planned for the Rabul feature this year.
Oil and gas analysts at GMP FirstEnergy said market reaction to SDX’s latest update was ‘positive’ as it will contribute to the company reaching its gross production target at Meseda.
SDX holds a 50 percent joint operated stake in the West Gharib Concession.
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