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SDX Energy contracts rig for five-well campaign in Egypt

StockMarketWire.com

SDX Energy said it had signed a rig contract for the drilling of up to five wells at the South Disouq prospect in Egypt.

The agreement with Sino-Tharwa Drilling Company was for four firm wells and one contingent well, the company said.

Drilling on the first well was expected to commence in mid-March.

In Morocco, meanwhile, drilling was delayed at the company's KSS-2 development well due a failure of the top drive unit on the rig.

The unit was currently being repaired, with drilling set to recommence later on Tuesday.

'Well costs are not anticipated to be materially changed as the rig has been on zero rate while repairs on the top drive unit are being carried out,' SDX Energy said.



Story provided by StockMarketWire.com