{"id":12117,"date":"2022-03-21T08:51:06","date_gmt":"2022-03-21T08:51:06","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12117"},"modified":"2022-04-07T09:00:17","modified_gmt":"2022-04-07T09:00:17","slug":"sdx-energy-announces-full-year-financial-and-operating-results-2","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/sdx-energy-announces-full-year-financial-and-operating-results-2\/","title":{"rendered":"SDX Energy Announces Full Year Financial and Operating results"},"content":{"rendered":"

SDX Energy has announced its audited financial and operating results for the twelve months ended 31 December 2021. All monetary values are expressed in United States dollars net to the Company unless otherwise stated.<\/span><\/p>\n

Mark Reid, CEO of SDX, commented:<\/span><\/p>\n

“2021 was a year of both challenges and successes. Our portfolio continued to perform well with production above mid-point guidance, and Netback and EBITDAX showing growth of 21% and 22%. Impairment charges relating to South Disouq and\u00a0Lalla Mimouna Nord\u00a0have resulted in a statutory loss for the year.<\/span><\/p>\n

The Group had mixed drilling results. The disappointment was the unsuccessful Hanut well, however there were a lot of positives; the IY-2X development well was drilled successfully and production brought on quickly maximising value from the field. In\u00a0Morocco\u00a0all our three wells were drilled successfully and all were tied into production infrastructure soon after drilling. Our fourth Moroccan well has encountered some issues however we plan to recommence drilling the well in early Q2 2022.<\/span><\/p>\n

At West Gharib in\u00a0Egypt, the first well of our 13 well campaign was spud in October with the entire program looking to bring on additional barrels of oil and take advantage of the higher oil price environment. Post period end, we have been able to announce the successful drilling of the first and second wells and the testing and tie in of both.<\/span><\/p>\n

SDX’s board and management has always approached the business from the perspective of maximizing value for all stakeholders. As such, we were pleased to announce in February 2022 that the Group disposed of 33% of the shares in the entity that holds its interests across its South Disouq concession for US$5.5 million which was at a significant premium to the asset’s value within our market capitalization. As a result, a share buyback program of up to US$3.0 million is planned to be initiated in the second half of the year.<\/span><\/p>\n

I am very confident that the upcoming year will be a positive one for SDX and that with a healthy balance sheet and a fully-funded drilling campaign targeting some exciting value-accretive prospects, we will finish the year in an even stronger position. The share price performance has clearly been very disappointing and I and my board colleagues are focussed on reversing this trend. I would like to extend my thanks to our shareholders for their commitment throughout the period and to all of our wider stakeholders for the support they continue to give SDX.”<\/span>\u00a0<\/span><\/p>\n

Twelve months to\u00a031 December 2021\u00a0Operations Highlights<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Average entitlement production of 5,886 boe\/d was 2% higher than 2021 mid point market guidance of 5,770 boe\/d and 1% lower than the same period in 2020, excluding disposed assets.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>2021 production from core assets either exceeded or was within market guidance. Capex was within guidance, despite operational issues resulting in higher than anticipated costs being incurred during the Q4 2021 well campaign in\u00a0Morocco.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0<\/span>The Company’s operated assets recorded a\u00a0carbon\u00a0intensity of 3.0kg CO2<\/sub>e\/boe in 2021 which is one of the lowest rates in the industry.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0<\/span>In\u00a0February 2022, the Company announced the disposal of 33% of the shares in the entity that holds its interests across its South Disouq concession for\u00a0US$5.5 million\u00a0and its intention to initiate a share buyback program of up to\u00a0US$3.0 million\u00a0in H2 2022.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>In South Disouq, a two-well development\/exploration campaign took place between June and August 2021. The first well, the IY-2X step-out development well, was brought into production during the last week of August and will ensure that the Group maximises its recovery from the Ibn Yunus Field. The second well, the Hanut-1X exploration well, spudded on 4 August and reached the target depth of 6,000ft on 17 August. The primary target for HA-1X was the Basal Kafr El Sheikh sand at approximately 5,200ft; however, the well found that the Basal Kafr El Sheikh sand had been eroded at this location. As a result, the Company recognised a US$1.3 million dry-hole cost in Q3 2021.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0<\/span>The first phase of the\u00a0Morocco\u00a0drilling campaign, which consisted of three appraisal\/development wells in SDX’s operated\u00a0Gharb Basin\u00a0acreage in\u00a0Morocco\u00a0(SDX: 75% working interest), was successfully completed in\u00a0June 2021. The OYF-3, KSR-17 and KSR-18 wells were all commercial successes and are producing into the Company’s infrastructure. The second phase, which consists of two appraisal\/development wells<\/span>\u00a0will resume in Q2 2022.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>In West Gharib, following the 10-year concession extension granted in 2021, the first well (MSD-21) in a 13-well campaign spud on\u00a016 October 2021 and commenced oil production in\u00a0January 2022. Post period end, MSD-25, the second well of the campaign was drilled and placed on production.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>As at\u00a031 December 2021, the Company’s working interest share of audited 2P reserves was 7.0 MMboe.<\/span><\/p>\n

2022 Guidance<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>2022 production guidance of 3,300 – 3,550 boe\/d is lower than 2021 production, predominantly due to the disposal of 33% of SDX’s interests in the South Disouq asset, as well as the decision not to immediately renew an expired customer contract in\u00a0Morocco. At West Gharib, the development drilling is expected to arrest the natural decline in production and then grow volumes as the new wells come online.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>An analysis of 2022 production guidance by asset is as follows:<\/span><\/p>\n\n\n\n\n\n\n\n\n
\n

Gross production<\/span><\/p>\n<\/td>\n

\n

SDX entitlement<\/span><\/p>\n

production boe\/d<\/span><\/p>\n<\/td>\n

\n

SDX entitlement production boe\/d<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Asset<\/span><\/p>\n<\/td>\n

\n

Guidance – 12 months ended\u00a031 December 2022<\/span><\/p>\n<\/td>\n

\n

Actual – 12 months ended\u00a031 December 2021<\/span><\/p>\n<\/td>\n

\n

Guidance<\/span><\/p>\n

12 months ended\u00a031 December 2022<\/span><\/p>\n<\/td>\n

\n

Actual<\/span><\/p>\n

12 months ended\u00a031 December 2021<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

South Disouq – WI 55% & 100% (36.9% & 67.0%1<\/sup>)<\/span><\/p>\n<\/td>\n

\n

33 – 35 MMscfe\/d<\/span><\/p>\n<\/td>\n

\n

45.5 MMscfe\/d<\/span><\/p>\n<\/td>\n

\n

2,280 – 2,420<\/span><\/p>\n<\/td>\n

\n

4,465<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

West Gharib – WI 50%<\/span><\/p>\n<\/td>\n

\n

2,200 – 2,650 bbl\/d<\/span><\/p>\n<\/td>\n

\n

2,398 bbl\/d<\/span><\/p>\n<\/td>\n

\n

420- 505<\/span><\/p>\n<\/td>\n

\n

457<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Morocco\u00a0– WI 75%<\/span><\/p>\n<\/td>\n

\n

4.8 – 5.0 MMscf\/d<\/span><\/p>\n<\/td>\n

\n

7.7 MMscf\/d<\/span><\/p>\n<\/td>\n

\n

600 – 625<\/span><\/p>\n<\/td>\n

\n

964<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total<\/span><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n

\n

3,300 – 3,550<\/span><\/p>\n<\/td>\n

\n

5,886<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

After completion of the South Disouq disposal with effect from 1 February 2022, and net of minority interest. Gross of minority interest, production is expected to be 3,250 – 3,450 boe\/d.<\/span>\u00a0<\/span><\/p>\n

o\u00a0\u00a0<\/span>South Disouq<\/span>: Production guidance for 2022 reflects the disposal of 33% of SDX’s interest in the asset, 2-3% CPF and compressor downtime due to planned maintenance, and several well workovers. The existing wellstock is expected to continue to exhibit natural decline, some of which will be offset by drilling the SD-12_East development well. The SD-5X\/Warda exploration well is assumed to be dry for guidance purposes but if successful, could increase gross production to 38-40 MMscfe\/d and SDX’s total corporate entitlement guidance to 3,600-3,850 boe\/d (net of minority interest) from the 3,300-3,550 boe\/d currently presented. The Mohsen exploration well, if successful, will require to be tied in and therefore is not expected to contribute to production until mid-2023.<\/span>\u00a0<\/span><\/p>\n

o\u00a0\u00a0<\/span>West Gharib:<\/span>\u00a0The development drilling campaign will arrest the asset’s natural decline, with new wells beginning to grow production during the second half of the year and into 2023.<\/span>\u00a0<\/span><\/p>\n

o\u00a0\u00a0<\/span>Morocco:<\/span>\u00a02022 production guidance is lower than 2021 production as the Company decided not to immediately renew a five-year customer contract that expired on\u00a031 December 2021\u00a0until the Company has better visibility on future gas supply and pricing to support the full term of a new contract. This decision is the main factor for a reduction in Moroccan capex guidance in 2022 which is c.US$6.0 million\u00a0(32%) lower than FY21 capex.\u00a0 The Company is exploring several options for re-entering into discussions with this customer.<\/span>\u00a0<\/span><\/p>\n

o\u00a0\u00a0<\/span>COVID-19:\u00a0<\/span>The 2022 production guidance presented assumes no significant production curtailments due to COVID-19. If there are disruptions, then production guidance may be revised.<\/span><\/p>\n

2022 Capex Guidance<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>2022 capex guidance range of\u00a0US$21.5-23.0 million\u00a0is fully funded and predominantly relates to one appraisal and two exploration wells in South Disouq, up to eight new wells and facilities upgrades in West Gharib, and five new wells in\u00a0Morocco.<\/span><\/p>\n\n\n\n\n\n\n\n
\n

Asset<\/span><\/p>\n<\/td>\n

\n

Guidance – 12 months ended\u00a031 December 2022<\/span><\/p>\n<\/td>\n

\n

Actual – 12 months ended\u00a031 December 2021<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

South Disouq – WI 55% & 100% (36.9% & 67.0%(1)<\/sup>)<\/span><\/p>\n<\/td>\n

\n

US$4.5\u00a0– 5.0 million(2)<\/sup><\/span><\/p>\n<\/td>\n

\n

US$6.6 million(3)<\/sup><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

West Gharib – WI 50%<\/span><\/p>\n<\/td>\n

\n

US$4.5\u00a0– 5.0 million<\/span><\/p>\n<\/td>\n

\n

US$2.2 million<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Morocco\u00a0– WI 75%<\/span><\/p>\n<\/td>\n

\n

US$12.5\u00a0– 13.0 million<\/span><\/p>\n<\/td>\n

\n

US$18.9 million(4)<\/sup><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total<\/span><\/p>\n<\/td>\n

\n

US$21.5\u00a0– 23.0 million<\/span><\/p>\n<\/td>\n

\n

US$27.7 million<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>The anticipated timings of planned key capex activities are outlined below:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Asset<\/span><\/p>\n<\/td>\n

\n

Activity<\/span><\/p>\n<\/td>\n

\n

2022 Timing<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

South Disouq<\/span><\/p>\n<\/td>\n

\n

SD-5X (Warda) exploration well<\/span><\/p>\n<\/td>\n

\n

Q1-Q2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

SD-4X workover<\/span><\/p>\n<\/td>\n

\n

Q2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

SD-12_East appraisal well<\/span><\/p>\n<\/td>\n

\n

Q2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

SD-3X workover (AM-I)<\/span><\/p>\n<\/td>\n

\n

Q2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

MA-1X (Mohsen) exploration well<\/span><\/p>\n<\/td>\n

\n

Q3<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

SD-3X workover (KES)<\/span><\/p>\n<\/td>\n

\n

Q4<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Morocco<\/span><\/p>\n<\/td>\n

\n

Two well drilling campaign<\/span><\/p>\n<\/td>\n

\n

Q1-Q2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

SAH-4 workover<\/span><\/p>\n<\/td>\n

\n

Q1<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Three well drilling campaign<\/span><\/p>\n<\/td>\n

\n

Q3-Q4<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

West Gharib<\/span><\/p>\n<\/td>\n

\n

Eight development wells<\/span><\/p>\n<\/td>\n

\n

Q1-Q4<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Water injection well and facilities upgrades<\/span><\/p>\n<\/td>\n

\n

Q2-Q4<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

o\u00a0\u00a0<\/span>South Disouq<\/span>: One appraisal well, SD-12_East, and two exploration wells, SD-5X (Warda) and MA-1X (Mohsen), will be drilled consecutively, commencing in Q1 2022. SD-5X (Warda), the first well in the campaign, is a basal Kafr El Sheikh prospect targeting unrisked P50 recoverable volumes of 11bcf with a 40% chance of success. The well location is close to the producing SD-4X well, again enabling low-cost and quick tie-in in the event of success. SD-12_East will target the eastern part of the Sobhi field and is expected to be completed and tied back rapidly once drilled. MA-1X (Mohsen) is targeting a prospect further to the south-east, c.5.5km from the CPF. It too is a basal Kafr El Sheikh prospect and is targeting unrisked P50 recoverable volumes of 21bcf with a 45% chance of success. Following the disposal announced on\u00a01 February 2022, all three wells are being drilled with partner participation. In addition to the drilling activity, several well workovers will be undertaken to maximise recovery from the fields.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

o\u00a0\u00a0<\/span>West Gharib:<\/span>\u00a0Up to eight infill development wells will be drilled as part of the field development plan, with additional facilities installed, including greater fluid handling capacity.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

o\u00a0\u00a0<\/span>Morocco:\u00a0<\/span>Five wells will be drilled in two campaigns in Q2 and Q3\/Q4 2022. As in 2021, conducting two campaigns allocates the capital investment over a longer period of time and therefore allows the cost of these wells to be comfortably covered by cash generated by the asset. All five wells will target shallow biogenic gas that can be tied into the Company’s infrastructure quickly and at low cost, with one of the first two wells targeting a new area of the acreage which is as yet untested, but covered by 3D seismic. If successful, this well could open up further drilling and exploitation opportunities, some of which could be tested in the second campaign. Several wells will be worked over, including re-perforation and sliding sleeve operations to exploit behind-pipe reserves and maximise production and recovery from the existing well stock.<\/span><\/p>\n

Outlook<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0<\/span>Management believes that the Company is well-placed to weather the current macroeconomic uncertainties and continues to screen a number of business development opportunities.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0<\/span>Cash generation is expected to continue strongly through 2022 and beyond as approximately 80% of the Company’s cash flows are expected to be generated from fixed-price gas businesses, with the remaining 20% being generated from our West Gharib oil asset which is highly profitable in the current oil price environment.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>The current strong oil price and outlook means that the Group also plans to continue with its thirteen well drilling campaign and capitalize on its recent production service agreement extension at West Gharib.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Anticipated 2022 and 2023 work programmes are fully funded.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>The Company continues to assess the optimum use of capital in the interests of all stakeholders, whether that be an investment into new projects or returning cash to shareholders. As previously announced, following the disposal of 33% <\/span>of the shares in the entity that holds its interests across it South Disouq concession<\/span>, the Company has stated its intention to initiate a share buyback program in H2 2022 of up to\u00a0US$3.0 million.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

SDX Energy has announced its audited financial and operating results for the twelve months ended 31 December 2021. All monetary values are expressed in United States dollars net to the … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11],"tags":[10343,10345,10344,8539,1629,7820,7630,7626],"class_list":["post-12117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-hanut-well","tag-iy-2x","tag-lalla-mimouna-nord","tag-mohsen","tag-morocco","tag-sdx-energy","tag-south-disouq","tag-west-gharib","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/SDX-Energy.png?fit=541%2C306&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-39r","jetpack-related-posts":[{"id":10677,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-sdx-energy-spuds-hanut-1-exploration-well-in-south-disouq\/","url_meta":{"origin":12117,"position":0},"title":"EGYPT: SDX Energy Spuds Hanut-1 exploration well in South Disouq","author":"","date":"August 5, 2021","format":false,"excerpt":"SDX Energy announceS the spudding of the Hanut-1 exploration well (HA-1X), the second well in the Company's 2021 two-well drilling campaign in South Disouq following the successful IY-2 well announced in July.\u00a0 The HA-1X exploration well on the Hanut prospect spudded on 4 August. HA-1X is targeting a Basal Kafr\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/Egypt-South-Disouq.jpg?fit=529%2C479&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/Egypt-South-Disouq.jpg?fit=529%2C479&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/Egypt-South-Disouq.jpg?fit=529%2C479&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9252,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sdx-energy-to-accelerate-drilling-campaign-in-south-disouq-into-q2-q3-2021\/","url_meta":{"origin":12117,"position":1},"title":"SDX Energy to Accelerate Drilling Campaign in South Disouq into Q2\/Q3 2021","author":"","date":"October 5, 2020","format":false,"excerpt":"Nine months to\u00a030 September 2020 Drilling and prospectivity\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0South Disouq two-well drilling campaign completed during the period, with the second well, SD-12X (100% W.I.), being a commercial discovery in the Kafr el Sheikh (KES) Formation, and management estimating 24 bcf of recoverable resources. Work is underway to connect SD-12X to\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Egypt-South-Disouq-Permit-Map-1.jpg?fit=1200%2C1088&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Egypt-South-Disouq-Permit-Map-1.jpg?fit=1200%2C1088&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Egypt-South-Disouq-Permit-Map-1.jpg?fit=1200%2C1088&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Egypt-South-Disouq-Permit-Map-1.jpg?fit=1200%2C1088&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Egypt-South-Disouq-Permit-Map-1.jpg?fit=1200%2C1088&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":10501,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sdx-energy-commences-drilling-operations-in-south-disouq-spudding-of-iy-2-well\/","url_meta":{"origin":12117,"position":2},"title":"SDX Energy Commences Drilling Operations in South Disouq & Spudding of IY-2 Well","author":"","date":"June 29, 2021","format":false,"excerpt":"SDX Energy has announced the commencement of the South Disouq drilling campaign, which will comprise two wells over the next few months.\u00a0 South Disouq Drilling Campaign:\u00a0 The upcoming drilling campaign will consist of one step-out development well and one exploration well in the Company's operated South Disouq (SDX: 55%WI) acreage\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9441,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-morocco-sdx-energy-provides-operational-update\/","url_meta":{"origin":12117,"position":3},"title":"EGYPT\/ MOROCCO: SDX Energy Provides Operational Update","author":"","date":"November 19, 2020","format":false,"excerpt":"Nine months to\u00a030 September 2020\u00a0Operations Highlights\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Average entitlement production of 6,646 boe\/d, an increase of 90% from the nine months to\u00a030 September 2019\u00a0(3,501 boe\/d) and 64% higher than average production during FY 2019 (4,062 boe\/d) due to strong production levels mainly from South Disouq, which delivered gross production of 48.6\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/SDX-Energy.png?fit=541%2C306&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/SDX-Energy.png?fit=541%2C306&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/SDX-Energy.png?fit=541%2C306&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12067,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sdx-energy-announces-full-year-financial-and-operating-results\/","url_meta":{"origin":12117,"position":4},"title":"SDX Energy Announces Full Year Financial and Operating results","author":"","date":"March 21, 2022","format":false,"excerpt":"SDX Energy has announced its audited financial and operating results for the twelve months ended 31 December 2021. All monetary values are expressed in United States dollars net to the Company unless otherwise stated. Mark Reid, CEO of SDX, commented: \"2021 was a year of both challenges and successes. Our\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/SDX-Energy.png?fit=541%2C306&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/SDX-Energy.png?fit=541%2C306&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/SDX-Energy.png?fit=541%2C306&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8400,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-morocco-post-drilling-extension-of-plateau-production-at-south-disouq-and-de-risked-prospectivity-in-both-egypt-and-morocco\/","url_meta":{"origin":12117,"position":5},"title":"EGYPT\/ MOROCCO: Post-drilling Extension of Plateau Production at South Disouq and De-risked Prospectivity in both Egypt and Morocco","author":"","date":"June 23, 2020","format":false,"excerpt":"Egypt \u00b7\u00a0\u00a0\u00a0\u00a0As a result of the Sobhi discovery in South Disouq (SDX Working Interest: 55% and operator), which SDX drilled at 100% Working Interest, gross plateau production of c.50 MMscfe\/d is now expected to be maintained for a further 18-24 months until mid-2023 with the potential for a further extension\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/West-Gharib.jpg?fit=420%2C361&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12117"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12117\/revisions"}],"predecessor-version":[{"id":12120,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12117\/revisions\/12120"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8936"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}