SDX spuds second well in Egyptian campaign
North Africa-focused SDX Energy announced on August 5 that it had spudded the second well in its two-well drilling campaign at the South Disouq asset in Egypt.
The HA-1X exploration well is targeting a Basal Kafr El Sheikh prospect at a depth of around 1,585 m. The prospect is estimated to hold 3.94bn m3 of natural gas, or 23.2mn barrels of oil equivalent. SDX, which had its entire proven and probable reserves assessed at 11.1mn boe at the end of last year, has a 55% interest in the well. Its partner IPR Energy has the remaining 45%.
SDX believes the well has a 33% chance of success, describing it as "potentially transformational" for the company.
In June SDX also spudded the IY-2 development well at South Disouq, which has been in production since November 2019. The company hailed its past drilling campaign in Egypt as a success, with six of the eight wells drilled resulting in discoveries.