A significant increase in drilling activity has been undertaken by Khalda Petroleum over the previous two months, as the company completed the drilling of four exploratory wells, three developmental wells, and one water injection well in its Western Desert concession. The operations come in the context of Khalda’s drilling plan for the 2011-2012 fiscal year.
KARANIS SW-1 ST-3 is an oil-producing exploratory well. It’s located in the Matruh development lease in the Northern Egypt Basin and is currently in the appraisal stage. It was drilled to a depth of 16,500 feet via the EDC-54 rig, attracting investments of $9 million.
In the Khalda concession of the Shoushan Sub-basin, the company spudded KHALDA SW-X3, an exploratory oil-producing. It was drilled using the EDC-8 rig to a depth of 16,000 feet. Drilling Investments in the well amounted to $3.808 million, and it is currently in the stage of appraisal.
Another exploratory oil-producing well is the MEGAHAR-1X. It was drilled using the ST-10 rig to a depth of 13,400 feet. Currently in the appraisal stage, the well has cost $4 million in drilling investments.
KAH B-42X is an exploratory natural gas well, which attracted investments of $1.66 million. The drilling operation was conducted using an EDC-84 rig to a depth of 13,500 feet. The well has yet to be added to Khalda’s overall production.
Khalda’s three new developmental wells, namely the WRZK-69, the SHROUK NE-1, and the UMB-209, were drilled the company’s Western Desert concessions.
The WRZK-69 is an oil-producing well that was drilled to the depth of 6,800 feet using an EDC-65 rig. $451,305 worth of drilling investments was pooled into the operation.
The SHROUK NE-1, also an oil-producing well, is located in the Shoushan Sub-basin. It was drilled to a depth of 6,500 feet via the EDC-61 rig with investments totaling $710,000.
In its Umbarka field in Marmarica Basin, Khalda drilled the UMB-209 with investments worth $1.444 million. The oil-producing well was drilled using an EDC-40 rig, to a depth of 12,000 feet.
None of the three developmental wells has been added to the company’s overall production numbers.
Khalda has also completed drilling a water-injection well in Abu El Gharadiq South field, Abu Gharadiq Basin in the Western Desert, labeled AG-93. The well was drilled to a depth of 11,000 feet via an ST-6 rig, the cost of which has totaled $3.901 million.
A joint venture between the Egyptian General Petroleum Corporation (EGPC) and American petroleum giant Apache Corporation, Khalda’s production rates for the month of February stood at 4,194,049 barrels of crude oil and 4,363,393 cubic feet of natural gas.