SDX Energy reported a strong first quarter based largely on its fixed price gas business.
SDX Energy has made a commercial discovery at the SD-12X well, in Egypt.
SDX Energy’s capital expenditure will fall to $24.7 million this year, while production is expected to be 66-72% higher than 2019.
SDX Energy has extended its gas discoveries in Morocco, through the play-opening BMK-1 well, although a well in Egypt has disappointed.
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SDX Energy is set for a year of growth, although there are some concerns about impairments that might see it relinquish one of its longest-term producing assets.
SDX Energy has increased its resources at South Disouq, in Egypt, by 35%, according to a report by Gaffney, Cline & Associates (GCA).
SDX Energy has begun its 12-well campaign in Morocco, targeting 15 billion cubic feet (425 million cubic metres) of gross resources.