SDX Energy Incorporation chose a location for drilling a carried exploration well in the South Disouq concession in Egypt of which it operates with a 55% interest. SDX assigned a team to provide technical assistance on the well in order to start drilling in the first quarter of 2017, reported Rigzone.SDX received enquiries from a number of operators regarding buying leases in the license.
The company’s spokesperson stated: “although the company is fully carried on its remaining obligations in the license and is unlikely to farm down any additional equity, it has agreed to let selected companies submit proposals to acquire an interest in the concession.”
Egypt Oil&Gas reported in October that SDX had revealed that the quality of the 115 sq.mile 3D seismic data acquired over the South Disouq concession surpassed expectations. The subsidiary to Canadian Sea Dragon Energy’s (SDX) had explained that the initial analysis of the seismic data set identified large prospects in the Abu Madi section and Kafr El Sheikh formation.