leadf
logo-loader
viewSDX Energy PLC
(
AIM:SDXFRA:3KXOTC:SDXEF
)

SDX Energy brings on new oil production well in Egypt

It is part of a programme - comprising two wells, and nine well work-overs - designed to maintain a plateau production rate of 8,000 bopd this year.

Nodding donkey an oil well silhouette - represents SDX Energy's operations
AASE-24 flowed oil at a rate of 1,714 bopd.

SDX Energy Inc (LON:SDX, CVE:SDX) has revealed the results of a new well at the North West Gemsa operation, in Egypt, which has been completed as a production well.

The well, Al Amir SE-24 (AASE-24), was drilled to a depth of 9,925 feet. It encountered the Shagar and Rahmi oil reservoirs, hitting 15 feet of net pay in the former and 7 feet in the latter.

AASE-24 flowed oil at a rate of 1,714 barrels of oil per day, as well as 3mln cubic feet of associated gas.

"The AASE24 well is expected to be another strong producer from the Shagar and is the second of two successful development wells to be drilled in the field this year,” said Paul Welch, SDX Energy

“The results of these two development wells combined with a 9 well work-over program, which his currently underway, will allow us to maintain production at a plateau rate of 8,000 Boepd for the remainder of 2016."  

The well has now been connected to existing facilities and production will begin immediately.

Quick facts: SDX Energy PLC

Follow
AIM:SDX

Price: 10.01 GBX

Market Cap: £20.56 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Eqtec continue to deliver on three year strategy, announcing Kibo Energy...

EQTEC PLC (AIM:EQT) David Palumbo, chief executive talks to Proactive London's Katie Pilbeam about their deal for Kibo Energy to become a strategic investor in the proposed Billingham waste gasification and power plant in Teesside, UK. Kibo will acquire a 54.54% equity stake in the Haverton...

1 hour, 4 minutes ago

2 min read