SDX H1 2020 Production Surge by 97% YoY

SDX H1 2020 Production Surge by 97% YoY

SDX’s South Disouq and West Gharib production in H1 2020 exceeded the company’s 2020 guidance with a 97% increase compared to H1 2019, recording entitlement production of 6,980 barrels of oil equivalent per day (bbloe/d), according to a statement.

The full-year guidance was set between 6,000 – 6,250 bbloe/d down from 6,750 – 7,000 bbloe/d to reflect the disposal of the non-core North West Gemsa concession which SDX sold in July.  Prior to its sale, the concession’s gross production until 31 March reached 3,076 bbloe/d. 

The South Disouq concession has exceeded expectations during H1 2020, with all four wells flowing ahead of expected rates. The company’s plans include reducing production from SD-4X during H2 2020 until it reduces water production during Q1 2021. 

Additionally, SD-6X well was drilled in Q1 2020 at a depth of 3,167 meters and encountered 1.7 meters and one meter of net gas-bearing sand in Kafr El-Sheik formation and the Abu‐Madi formation, respectively. The well also encountered 143 meters and 258 meters of high-quality net reservoir in the Abu‐Madi formation and the Qawasim formation. The gas sands in both the Kafr El Sheikh and Abu Madi were deemed to be sub-economic and the Qawasim’s had low gas saturation.

SD-12X exploration well was drilled at a depth of 2,415 meters, encountering 36 meters net of high-quality gas-bearing sands.

According to the statement, the well has encountered approximately 24 billion cubic feet (bcf) of recoverable gas resources. SDX conducted a drill stem test (DST) in April 2020 and recorded a maximum rate of 25 million cubic feet per day (mmscf/d) on a 54/64 choke during the main flowing period. After several tests, the company stated that the well is expected to produce 10-12 mmscf/d of mostly dry gas.

As for the West Gharib concession, in H1 2020 Rabul-3 was successfully drilled, completed, and tied into the field production system at a rate of approximately 300 bbl/d.

The company also began production from South Ramadan concession offshore in the Gulf of Suez in Q2 2020 at approximately gross 350 bbl/d.  The concession’s production is expected to reach 400-500 bbl/d in H2 2020 after SDX perform an acid stimulation operation. It should be noted that SDX has 12.75% of working interest in the concession.


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