SDX Energy has begun producing at its Sobhi well in Egypt’s South Disouq licence, six weeks ahead of schedule.
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 made a heavy oil discovery at its Rabul-3 well in Egypt, with plans to bring this into production later this month.
SDX Energy has extended its gas discoveries in Morocco, through the play-opening BMK-1 well, although a well in Egypt has disappointed.
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 is making strong operational progress in North Africa but lower realised prices for production have dragged down revenues in the first nine months of the year.
SDX Energy has begun its 12-well campaign in Morocco, targeting 15 billion cubic feet (425 million cubic metres) of gross resources.