AIM-listed SDX Vitality, the MENA-focused vitality firm, has accomplished drilling on the MSD-21 infill improvement properly on the Meseda subject in its West Gharib concession, Egypt
The MSD-21 encountered the first prime Asl Formation reservoir at 4,040ft MD (-3,251ft TVDSS) and reached a TD of 4,740ft. The properly encountered 62.3ft of good-quality, web oil pay sandstone, with a median porosity of 21.3% within the Asl Formation reservoir. MSD-21 will now be tied-in to the prevailing services and circulate examined.
MSD-21 is the primary properly in a fully-funded, 12-well improvement marketing campaign on the Meseda and Rabul oil fields within the West Gharib concession, Egyptian Japanese Desert. The event drilling marketing campaign is geared toward rising manufacturing from present charges of roughly 2,100 bbl per day to roughly 3,500-4,000 bbl per day by early 2023.
The rig will now transfer to the following properly within the marketing campaign, MSD-25, which is anticipated to spud in early to mid-January 2022.
Mark Reid, CEO of SDX, commented, “The logs from MSD-21 are encouraging and the properly will now be related to our infrastructure and circulate examined. We are going to replace the market within the coming weeks on manufacturing charges.
“With YTD Q3 2021 netback of US$35 per bbl at US$68 per bbl Brent, West Gharib is at the moment a really excessive margin asset in our portfolio and MSD-21, and subsequent wells, will enhance the manufacturing and cashflow from these fields within the coming months. I sit up for updating the market additional because the marketing campaign progresses,” Reid added.