SDX Energy announces completion of the initial three well phase of its 2021 drilling campaign in Morocco

Morocco rig ORAORMEAIM-listed SDX Energy, the MENA-focused energy company, has announced the successful completion of the initial three well phase of its 2021 drilling campaign in Morocco, which will comprise up to a total of five wells over the year

Mark Reid, CEO of SDX, commented, “The OYF-3, KSR-17 and KSR-18 wells in Morocco were all commercial successes, and OYF-3 and KSR-17 are already connected and producing into our infrastructure. We expect KSR-18 to be tested and connected in the next two weeks.”

“The gross 1.5-1.6 bcf reserves added by these wells is in line with pre-drill P50 estimates and it is anticipated that this will enable us to continue to deliver gas to our customers in line with their contractual requirements. We will now commence the preparations to drill up to two additional wells in Morocco later in the year.”

“In Egypt we are expecting to commence the drilling of the IY-2 step out development well at South Disouq in the coming days, and our planning for the potentially transformational HA-1X exploration well is significantly progressed, with spud expected in Q3 2021.”

Moroccan drilling campaign

This first phase of the Morocco drilling campaign consisted of three appraisal/development wells in SDX's operated Gharb Basin acreage in Morocco (SDX: 75% working interest).

The first well, OYF-3, which spud on 30 April 2021, reached its TD at 1,183 metres MD on 11 May 2021. The main Guebbas reservoir target was thicker than expected and encountered a 5.2 metre net gas sand. The well also encountered a 1.7 metre net gas sand in a secondary zone that OYF-3 will also produce from.

The second well, KSR-17, was spud on 13 May 2021 and reached its TD at 1,848 metres MD on 27 May 2021. In the main Hoot reservoir, the well encountered a 5.3 metre net gas sand which was slightly thinner than expected, but with very good reservoir properties.

Finally, the third well of the campaign, KSR-18, was spud on 30 May 2021 and reached its TD of 1,905 metres MD on 14 June 2021. Both prognosed targets were successfully encountered, with the shallower Mid Guebbas target comprising of a 3.8 metre net gas sand and the main Hoot target encountering a 13.9 metre net gas sand.

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