Rabat – London-listed energy company, SDX Energy announced on Friday completing the drilling of the BMK-2 well, located in the Gharb Basin, in northwest Morocco.
In a statement, SDX Energy explains that “at 1,265 meters in the Guebbas formation, the well encountered a 9-meter interval, believed to be equivalent to the well’s primary target.”
The company further explains that their data shows up to approximately 100 times background gas readings, meaning that the levels of gas being detected at the well site are significantly higher than what would be expected as the natural background levels in the surrounding environment.
“The well was drilled to its total depth of 1,412 meters and has been left temporarily suspended with a plug set to allow the well to be sidetracked, to the target formation at 1,265 meters, once the required equipment has been mobilized,” the statement continues.
The news comes days after the company announced that it locked the necessary government approval to initiate gas production in the KSR-21 well in the Gharb Basin in Morocco. The company began gas production on the same day as the well, being that it was already connected to its infrastructure.
SDX has fast-tracked its operations in Morocco in recent months. Last month, the British company announced that it had sealed a deal for the sale of its West Gharib interests in Egypt for $6.6 million, channeling the proceeds to ramp up cash-generating operations in Morocco.
The company had 75% working interest across the Moroccan portfolio, which includes the Sebou Central, Gharb Occidental, Moulay Bouchta Ouest and Lalla Mimouna Sud exploration permits.
SDX sells the gas produced by its Moroccan assets to eight customers at contracted prices of between $10-$12 per thousand cubic feet (Mcf).
Read Also: SDX Energy Begins Gas Production in KSR-21 Well in Morocco
