SDX Energy Plc said April 8 it has made a commercial gas and condensate discovery at the SD-12x well in Egypt.
The well, located in the South Disouq Exploration Permit onshore Egypt’s Nile Delta, hit 108 feet of high-quality gas-bearing sands near the base of the the Kafr El Sheikh (KES) Formation, SDX said in a news release. The company estimates the well, which was drilled to a measured depth of 7,245 feet, encountered about 24 billion cubic feet equivalent of recoverable gas and condensate resources.
“This is an excellent result for SDX and fully justifies our confidence to drill this well on a sole risk basis,” SDX CEO Mark Reid said in the release. “South Disouq represents our flagship asset and in the current economic climate this fixed price, low cost gas development is highly cash generative for the group.”
Plans are to tie in the well in 2021 to the Ibn Yunus-1X location where an existing flow-line connects to the South Disouq Central Processing Facility at an estimated cost of about $3.5 million.
Reid added the discovery could extend the current South Disouq plateau production of 50 MMscfe/d through to 2023-24 with the low-cost tie in.
In the meantime, the company said it is completing the well and preparing for testing, results of which will be announced later.
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