SDX Energy announced that it has completed the drilling of the MSD- 24 infill development well which is located on the Meseda field in the West Gharib concession.
In a statement, the company said that MSD-24 encountered the primary top Asl Formation reservoir at 4,089ft measurement drilling (MD) through which it met 86.5 feet of good-quality, net oil pay sandstone, with an average porosity of 19%.
SDX elaborated that the well will be tied to the existing facilities and the flow will be tested.
MSD-24 is the fourth well in the 13-well development campaign on the Meseda and Rabul oil fields in the West Gharib concession in the Egyptian Eastern Desert. Currently, operations are continuing at the third well MSD-20. As activities progress, the drilling campaign seeks to expand its production to c.3,500 – 4,000 bbl/d by mid-2023.
Mark Reid, CEO of SDX, commented: “The logs from MSD-24 are encouraging and the well will now be connected to our infrastructure and flow tested. We will update the market on the results of this in the coming weeks. With oil price now at multi-year highs, West Gharib is a very high margin asset in our portfolio and MSD-24 and subsequent wells will boost production and cashflow from these fields in the coming months. I look forward to updating the market further as the campaign progresses.”
Now, the rig will move to the MSD-27 being the next well in the campaign, which is expected to spud in July 2022.