SDX Energy has commenced drilling the Ksiri-21 (KSR-21) well in Sebou Central of the Gharb Basin, Morocco
The vertical development well will be drilled to a planned total depth of approximately 1,950 m. Using existing 3D seismic, the well is targeting a well-defined prospect within the main Hoot formation, which is the main producing sand in the area. SDX has drilled over 20 production wells in the same basin. As such, this new well presents a low-risk step-out location. The well can be immediately brought into production, supplying gas to existing customers, under the improved gas price announced on 5 June.
The company will make further announcements as appropriate.
Daniel Gould, managing director, commented, "Commencement of drilling signifies an early milestone in SDX's new roadmap in Morocco, which the Company will present imminently. As part of re-energising the Company's upstream production, we will assess the feasibility of drilling additional wells, back to back. This type of programme would reduce capex per well, ensure operational efficiency, and prove sufficient reserves of 'gas-behind-pipe' to meet both existing and future demand."