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“This is further positive newsflow from our active Moroccan drilling campaign,” said Paul Welch, SDX chief executive.
Production from one of two zones in KSR-16 will satisfy the daily sales quota.
SDX Energy Plc (LON:SDX) has told investors that the ongoing development drilling programme in Morocco continues to deliver results ahead of the company’s own expectations.
The North Africa focussed oil and gas firm, in a stock market statement, confirmed that the KSR-14 well has measured an average production rate of 6.4mln cubic feet of gas per day during testing, and will remain on production for an extended period.
The well will subsequently be shut-in for pressure build up, as part of the group’s intended year-end reserve estimation process.
“This is further positive newsflow from our active Moroccan drilling campaign,” said Paul Welch, SDX chief executive.
“In particular, the KSR-14 test results are ahead of our internal expectations, especially in light of the fact that we are only flowing from the Hoot sand, as opposed to both the Hoot and Guebbas.
“Despite this, the well still managed to produce at a rate that would allow it to meet our entire daily sales commitment by itself.
Welch added: “This increases our confidence that we can reliably increase our production rates to meet additional customer demands based upon the results of the current program as we target an increase in our sales volumes by 50% in 2018.”
At the KSR-15 well, meanwhile, the completion work has been carried out to connect to nearby gas infrastructure and the well is expected to be complete within three weeks. A production test is due to take place by early December.
SDX added that the mobilisation process to move the drilling rig to the KSR-16 well site has now begun.
Elsewhere, the company has concluded a tender process for a proposed seismic programme for the Gharb Centre project area, with the company awarding the work to contractor CGG. The programme is due to start at the end of 2018’s second quarter.
“Overall, we are moving forward with the campaign apace and are pleased with the progress to date,” Welch said.
