Image: upstream online
UK-based exploration and production company SDX Energy made a new gas discovery at its SD-12X well in the South Disouq Concession, Egypt.
The well has 108 ft of net, high-quality gas and SDX holds 55% of the working interest in the concession. The SD-12X well is scheduled to be connected to South Disouq’s production facilities in 2021 through a 5.8Km link to Ibn Yunus-1X.
“This is an excellent result for SDX and fully justifies our confidence to drill this well on a sole risk basis. 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,” said SDX Energy CEO, Mark Reid.
SDX stated that it would only allow one construction well to be drilled at an estimated cost of $3.5 million and that such drilling will not be feasible for another two or three years.
