SDX Energy said that its proved and probable natural gas reserves at Egypt’s South Disouq operated concession have increased by 35%, reaching 86 billion cubic feet (bcf), according to Pipeline Oil and Gas News.
Gaffney, Cline & Associates (GCA) reported that the company’s 2P reserves reached 86 bcf of natural gas, in addition to 0.6 million barrels of condensate from South Disouq’s concession by the end of 2019.
This is equivalent to gross 89 billion cubic feet equivalent, up from gross 66 billion cubic feet equivalent included in the company’s reserves audit covering all of its concessions as of the end of 2018.
The company said that “the increase in South Disouq 2P reserves is as a result of the 2019 reprocessed 3D seismic data providing a better understanding of the structure and distribution of the reservoir around the production wells.”
The CEO of SDX Mark Rei, commented saying that they are now looking forward to the commencement of the South Disouq drilling campaign in February when they launch the first of two wells targeting the same results encountered in their four discoveries to date.
He added that “if successful, these wells have the potential to significantly increase our existing reserves and can be quickly tied into the South Disouq CPF. Depending on partnering discussions, a third well targeting deeper prospectively in a potential new play fairway, may be drilled later in 2020.”