SDX Energy has made a heavy oil discovery At its Rabul-3 well in Egypt and plans to produce oil later this month.
In the West Gharib concession, production from the well is expected to be an average of 300 barrels per day, which is more than what was estimated. The well was drilled to a depth of 5,129 feet and found 35 meters of net heavy oil pay in the Yusr and Bakr formation.
“We are very pleased to announce this latest result in our low-cost Meseda/Rabul area, which, thanks to its close proximity to existing infrastructure, will be contributing to cash flow in the coming weeks,” said SDX’s CEO Mark Reid.
The well will assist the company in achieving its 3,200 to 3,300 barrels per day production guidance for the Meseda field by 2020. The company is also operating on two South Disouq approved wells in Egypt, with results due in April and June.
SDX is a joint operator, with Dublin International Petroleum where both companies have a 50% working interest in the license.