SDX Energy Inc. said the seismic acquisition program at its South Disouq asset onshore Nile Delta Egypt has been completed.
“The initial data set is of good quality and clearly indicates the presence of the prolific Abu Madi trend within the block,” SDX Energy said in a news release.
The program, which consisted of the acquisition of 300 sq km of 3-D data, was completed safely, under budget and ahead of the anticipated schedule, the company said.
SDX planned to immediately began data processing, which is expected to take three months to complete. The company intends to use the processed data to build a prospect inventory with a view to selecting a location for a fully carried exploration well, which is anticipated to be drilled in late 2016, the release said.
SDX has a 55% equity interest in the asset and is operator.
Recommended Reading
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.
Energy Transfer Ups Quarterly Cash Distribution
2024-04-25 - Energy Transfer will increase its dividend by about 3%.
ProPetro Ups Share Repurchases by $100MM
2024-04-25 - ProPetro Holding Corp. is increasing its share repurchase program to a total of $200 million of common shares.
Baker Hughes Hikes Quarterly Dividend
2024-04-25 - Baker Hughes Co. increased its quarterly dividend by 11% year-over-year.
Weatherford M&A Efforts Focused on Integration, Not Scale
2024-04-25 - Services company Weatherford International executives are focused on making deals that, regardless of size or scale, can be integrated into the business, President and CEO Girish Saligram said.