Sound Energy, the North Africa and Europe-focused upstream gas company said it will launch a three-well drilling programme in Eastern Morocco.
James Parsons, Sound Energy's chief executive office said the company’s new drilling programme “has the potential to significantly increase the core value of Moroccan acreage and to establish Eastern Morocco as a prolific but low cost gas province."
The new exploration programme in Eastern Morocco includes three wells to be drilled back to back and will target high impact locations with significant exploration potential, the company said in a statement.
Sound Energy and its partners hold significant gas exploration acreage in Eastern Morocco, which the company internally estimates to include a total of 1.03 Tcf gas originally in place (GOIP) over the greater Tendrara, TE-5 Horst and Lakbir and TE-4 highs (consisting of a mid-case 0.63 Tcf GOIP on the TE-5 Horst and an additional 0.4 Tcf unrisked GOIP over the Lakbir High and the TE-4 high).
The new wells could further increase the company's internally estimated unrisked gross GOIP exploration potential volumes across Sound Energy's Eastern Moroccan acreage of 17 Tcf mid case (31 Tcf upside case and 9 Tcf low case).
Sound Energy’s new exploration wells will span multiple target types across structural and stratigraphic traps and Triassic and Paleozoic reservoirs, and each of the wells is expected to cost approximately US$10 million, the company said.
The exploration drilling programme leads will be reviewed again after the completion of the exploration drilling programme and high-graded towards the end of the year following receipt of the gradiometry, 2D seismic surveys, the 2D seismic reprocessing and the geological studies.