{"id":9441,"date":"2020-11-19T14:05:58","date_gmt":"2020-11-19T14:05:58","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=9441"},"modified":"2020-11-19T14:05:58","modified_gmt":"2020-11-19T14:05:58","slug":"egypt-morocco-sdx-energy-provides-operational-update","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-morocco-sdx-energy-provides-operational-update\/","title":{"rendered":"EGYPT\/ MOROCCO: SDX Energy Provides Operational Update"},"content":{"rendered":"

Nine months to\u00a030 September 2020\u00a0Operations Highlights<\/span>\u00a0<\/span><\/strong><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Average 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 MMscf\/d of dry gas and 467 bbl\/d of condensate (51.4 MMscfe\/d) equating to 4,710 boe\/d net to SDX.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Existing full year production guidance is maintained across all assets at 6,000 – 6,250 boe\/d, which is 48-54% higher than 2019 actual production and existing full year capex guidance is also maintained at\u00a0US$26.2 million, the majority of which has already been incurred.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>The South Disouq two-well drilling campaign was completed during the period, with the second well, SD-12X (100% working interest to SDX), being a commercial discovery in the Kafr el Sheikh formation, and management estimating 24 bcf of recoverable resources.\u00a0Construction is underway to connect SD-12X to the Company’s gas processing plant via a 5.8km flow line to the Ibn Yunus-1X well location with production expected in Q1 2021. Based upon well-test data, it is anticipated that when connected, the well will produce at a stabilised rate of 10-12 MMscf\/d.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Following further review of the 3D seismic at SD-12X, c.233bcf of close to infrastructure, mean unrisked recoverable volumes, located in productive horizons have been high-graded to ready-to-drill prospects.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Subject to receipt of final Ministerial and Parliamentary approval, the Company plans to accelerate its drilling campaign to Q2\/Q3 2021 from H1 2022 with the drilling of the Hanut prospect targeting 139bcf. The Company’s partner has still to advise whether it will participate in the well. The campaign will commence with the Company and its partner drilling the IY-2X well, a development well accessing reserves in the eastern portion of the Ibn Yunus field, to bring forward production and cash flow from this asset. The Company expects to drill the Mohsen and Warda prospects, targeting 26bcf and 14bcf respectively, in 2022.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0<\/span>The period saw the sale of the Group’s non-core North West Gemsa asset in\u00a0Egypt\u00a0with\u00a0the net\u00a0US$1.6 million\u00a0proceeds exceeding management’s expectations as well as showing the ongoing focus and commitment to capital discipline and careful management of the Group’s portfolio whilst also providing additional cash to further strengthen its balance sheet.<\/span><\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Moroccan drilling campaign has resulted in seven discoveries from nine wells drilled to date, with the tenth well, LMS-2, completed and awaiting crew mobilisation for testing, which is now expected in 2021 due to continued COVID-19 restrictions on moving people and equipment in and out of\u00a0Morocco.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Further analysis of the LMS-2 well results and a re-interpretation of the 3D seismic across SDX’s concessions has revealed that structures similar to LMS-2 are present throughout the Company’s acreage. This new prospectivity is located in horizons that are slightly deeper than the Company’s core production and development area and the areas previously targeted in Lalla Mimouna. \u00a0Work is ongoing to further define the scale of this prospectivity and, subject to a successful flow test of LMS-2, the intention is to target it as part of the planned 2021 Moroccan drilling campaign which we will also seek to accelerate into H1 2021.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Gas consumption levels at SDX’s\u00a0Morocco\u00a0customers have returned to c.90% of pre-COVID-19 levels.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Post period end, the Company agreed to the disposal of its non-core 12.75% working interest in the South\u00a0Ramadan\u00a0concession, located offshore in the\u00a0Gulf of Suez,\u00a0Egypt. The purchaser, International Oil Services, a private Egyptian oil and gas company, has already paid the\u00a0US$0.5 million\u00a0consideration for the Company’s interest, which is in excess of management’s internal valuation of the asset.\u00a0<\/span><\/p>\n

2020 Guidance<\/span><\/strong><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>The Company’s 2020 full year guidance is maintained at 6,000 – 6,250 boe\/d, which is 48-54% higher than 2019 actual production.<\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>2020 capex guidance is maintained at\u00a0US$26.2 million\u00a0(US$21.8 million\u00a0has been spent to date including the costs of the SD-12X pipeline project which remains on budget).<\/span><\/p>\n

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

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>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\u00a0\u00a0<\/span>Cash generation is expected to continue strongly through the rest of 2020 and beyond as approximately 90% of the Company’s cash flows are expected to be generated from fixed-price gas businesses.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>2020, 2021 and 2022 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 investment into new projects or returning cash to shareholders. At present the Company is focused on continued investment into new projects and considers this the most appropriate use of the Company’s capital. This will be assessed on an ongoing basis.<\/span><\/p>\n

o\u00a0\u00a0<\/span>South Disouq (W.I. 55%)<\/span>: The South Disouq asset has performed above expectations during\u00a0 the nine months to\u00a030 September 2020, with all four wells flowing ahead of expected rates and the CPF achieving higher than planned levels of uptime. During Q2 2020, a well testing program was carried out as part of scheduled reservoir management activities. Scheduled CPF maintenance is planned for Q4 2020, as are workovers of the SD-4X and SD-1X wells in Q1 2021. These wells are experiencing higher than expected water and sand production respectively and in Q4 2020 they will be produced at lower rates in preparation for the workovers.\u00a0 Notwithstanding this, the Company re-iterates its full year guidance of gross production of 47 – 49 MMscfe\/d.<\/span><\/p>\n

o\u00a0\u00a0<\/span>West Gharib (W.I. 50%):<\/span>\u00a0A new production well, Rabul-3, was successfully drilled, completed, and tied into the field production system during H1 2020. Although the existing well stock experienced increasing water cut during the year to date, production was higher than guidance albeit lower than the same period in 2019. \u00a0Given the above, the Company re-iterates its full year guidance of gross production of 3,200 – 3,300 bbl\/d for 2020.<\/span><\/p>\n

o\u00a0\u00a0<\/span>Morocco\u00a0(W.I. 75%):<\/span>\u00a0As previously reported, following a period of strong demand in January and February, three customers accounting for 50% of normal daily consumption were required to close between mid-March and early May due to COVID-19 restrictions imposed by the Government of\u00a0Morocco. Since the recommencement of production, these customers have gradually increased their consumption to c.90% of pre-closure levels, which is constrained by ongoing COVID-19 containment measures. The situation in-country remains uncertain and as a result, guidance for this business for FY 2020 is maintained at 5.3 – 6.0 MMscf\/d.<\/span><\/p>\n

o\u00a0\u00a0<\/span>NW Gemsa (W.I. 50%):<\/span>\u00a0The Company sold its 50% working interest in this asset in\u00a0July 2020, with an effective date of\u00a01 April 2020. Gross production to\u00a031 March 2020\u00a0was 3,076 boe\/d (1,538 boe\/d net to SDX), which equates to equivalent actual entitlement production to the Company of 511 boe\/d for Q3 2020 and 385 boe\/d for the full year.\u00a0<\/span>Prior to its sale, the field exceeded expectations, primarily due to a slower rate of pressure depletion and water cut increase.<\/span><\/p>\n

o\u00a0\u00a0<\/span>South\u00a0Ramadan\u00a0(W.I. 12.75%):<\/span>\u00a0South\u00a0Ramadan, situated offshore in the\u00a0Gulf of Suez, commenced production in Q2 2020 at approximately gross 350 bbl\/d.\u00a0 Post completion of an acid stimulation operation, production stabilised at gross 500 – 600 bbl\/d.<\/span><\/p>\n

2020 Drilling and Operations<\/span>\u00a0<\/span><\/strong><\/p>\n

Morocco\u00a0drilling campaign update (SDX 75% working interest)<\/span>\u00a0<\/span><\/strong><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Having fulfilled the objectives for the\u00a0Morocco\u00a0campaign, being: (i) to add 2P reserves in and around its existing infrastructure; (ii) to determine if its existing producing area extends to the north; and (iii) to test the prospectivity within the Lalla Mimouna concession, the Company decided not to drill the final two planned wells. As these last two wells would not have been immediately tied into the Company’s infrastructure or contributed cash flows in the near term, the Company has chosen to preserve its capital and postpone, at no incremental cost, these last two wells for a future campaign.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Further analysis of the LMS-2 well results and a re-interpretation of the 3D seismic across SDX’s concessions has revealed that structures similar to LMS-2 are present throughout the Company’s acreage. This new prospectivity is located in horizons that are slightly deeper than the Company’s core production and development area and the areas previously targeted in Lalla Mimouna. Work is ongoing to further define the scale of this prospectivity and, subject to a successful flow test of LMS-2, the intention is to target it as part of the planned 2021 Moroccan drilling campaign which we will also seek to accelerate into H1 2021.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>The above developments will allow the Company to significantly extend reserve life and continue to support lower CO2<\/sub>\u00a0emissions at our customers.<\/span>\u00a0<\/span><\/p>\n

South Disouq Egypt exploration drilling campaign update (SDX 55% working interest)<\/span>\u00a0<\/span><\/strong><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>The Sobhi well is currently being tied in via a 5.8 kilometre connection to the Ibn Yunus-1X location where an existing flow-line connects down to the South Disouq CPF, at an estimated cost of\u00a0US$3.5 million. The discovery will potentially only require one further development well to be drilled, which will not be necessary for another two to three years. SDX drilled the Sobhi well at a 100% working interest and the total cost of the well, including the cost to complete and test, was\u00a0US$4.0 million. Management expects the Sobhi well to commence production in Q1 2021.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>The Company’s partner has confirmed that, due to the premium that would be payable if it exercised its back-in rights under the Joint Operating Agreement, it will not participate in the development of the Sobhi discovery.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Following the success of SD-12X and further review of the 3D seismic, management has now identified c.233bcf of mean unrisked recoverable volumes, which are close to our existing infrastructure, located in horizons that are either productive in South Disouq or in adjacent blocks and which have now been high-graded to ready-to-drill prospects. This increase of 137bcf from the Company’s previous estimate of c.96bcf is primarily attributable to the identification of the Hanut prospect which the Company estimates has an unrisked mean recoverable volumes of 139bcf.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Subject to receipt of final Ministerial and Parliamentary approval of the two-year extension to the South Disouq exploration area, which has already been approved by EGAS, the Company plans to accelerate its drilling campaign to Q2\/Q3 2021 from H1 2022. The campaign will commence with the drilling of the IY-2X development well in the Ibn Yunus field to accelerate production and cash flows. The Hanut prospect will be drilled immediately afterwards, targeting 139 bcf, with the Mohsen (26 bcf) and Warda (14bcf) wells to be drilled in 2022. The Company’s 45% partner will participate in the IY-2X well and has still to confirm whether they will participate in the other proposed wells.<\/span><\/p>\n

West Gharib Egypt exploration drilling campaign update (SDX 50% working interest)<\/span><\/strong>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>During Q1 2020,\u00a0the Rabul-3 development well in the West Gharib Concession in\u00a0Egypt\u00a0was drilled to a total depth of 1,710 metres and encountered approximately 39 metres of net heavy oil pay across the Yusr and Bakr formations. The Yusr and Bakr formations are of excellent reservoir quality with an average porosity of 21%<\/span>. The well was completed as a producer in\u00a0mid-April 2020, with both formations being perforated.\u00a0 After connection to the CPF at West Gharib and clean-up, the well has produced at the expected average stabilised rate of approximately 300 bbl\/d.<\/span><\/p>\n

Corporate update<\/span>\u00a0<\/span><\/strong><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>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\u00a0\u00a0<\/span>In the period SDX announced the\u00a0appointment of\u00a0Catherine Stalker\u00a0as independent non-executive Director\u00a0<\/span>effective\u00a06 February 2020.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Q3 2020 saw the sale of the Group’s non-core North West Gemsa asset in\u00a0Egypt\u00a0with\u00a0the net\u00a0US$1.6 million\u00a0proceeds exceeding management’s expectations as well as showing the ongoing focus and commitment to capital discipline and careful management of the Group’s portfolio whilst also providing additional cash to further strengthen its balance sheet.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>Post period end, the Company agreed to the disposal of its non-core 12.75% working interest in the South\u00a0Ramadan\u00a0concession, located offshore in the\u00a0Gulf of Suez,\u00a0Egypt. The purchaser, International Oil Services, a private Egyptian oil and gas company, has already paid the\u00a0US$0.5 million\u00a0consideration for the Company’s interest, which is in excess of management’s internal valuation of the asset.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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 … 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":[709,8675,7633,1629,8673,8267,7820,8676,7630,8674,7626],"class_list":["post-9441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-egypt","tag-international-oil-services","tag-lalla-mimouna","tag-morocco","tag-north-west-gemsa","tag-nw-gemsa","tag-sdx-energy","tag-sobhi-well","tag-south-disouq","tag-south-ramadan-concession","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-2sh","jetpack-related-posts":[{"id":10064,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-morocco-sdx-energy-provides-full-year-2020-financial-operating-results\/","url_meta":{"origin":9441,"position":0},"title":"EGYPT\/ MOROCCO: SDX Energy Provides Full Year 2020 Financial & Operating Results","author":"","date":"March 21, 2021","format":false,"excerpt":"Mark Reid, CEO of SDX, commented: \"After what has been a very disruptive period for both businesses and people, I am extremely pleased to announce a set of results featuring record production, a strong balance sheet and successful drilling results.\u00a0 Operationally, 2020 was a strong year for the Group and\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":8935,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-egypt-sdx-energy-announces-h1-operating-results\/","url_meta":{"origin":9441,"position":1},"title":"MOROCCO\/ EGYPT: SDX ENERGY Announces H1 Operating Results","author":"","date":"August 20, 2020","format":false,"excerpt":"H1 2020 Operations Highlights\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0H1 2020 average entitlement production of 6,980 boe\/d, an increase of 97% from H1 2019 and 72% higher than average production during FY 2019 (4,062 boe\/d) due to strong production levels mainly from South Disouq, which continued to perform ahead of expectations at gross production of\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":13376,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sdx-energy-provides-egypt-morocco-operational-update\/","url_meta":{"origin":9441,"position":2},"title":"SDX Energy Provides Egypt & Morocco Operational Update","author":"","date":"March 1, 2023","format":false,"excerpt":"Egypt\u00a0- South Disouq \u00b7\u00a0\u00a0\u00a0\u00a0Average gross production of 38.5 MMscfe\/d (2,720 boe\/d net to SDX) for full year 2022. \u00b7\u00a0\u00a0\u00a0\u00a0The SD-5X well, drilled in Q2 2022, is on production and is exceeding the immediate post-drill volume expectations.\u00a0 It is expected in place volumes will be increased for this well.\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Evaluation of\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\/2023\/03\/Egypt-South-Disouq.jpg?fit=591%2C539&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Egypt-South-Disouq.jpg?fit=591%2C539&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Egypt-South-Disouq.jpg?fit=591%2C539&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12842,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sdx-energy-provides-financial-operating-results-for-the-3-9-months-ended-30-september-2022\/","url_meta":{"origin":9441,"position":3},"title":"SDX Energy Provides Financial & Operating Results for the 3 & 9 Months Ended 30 September 2022","author":"","date":"November 21, 2022","format":false,"excerpt":"YTD 9 months 2022 key highlights:\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Production of 512 bbls\/d and 19.3mmscf\/d (3,729 boe\/d), 3% higher than mid-point full year guidance of\u00a03,480 - 3,795\u00a0boe\/d. \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0EBITDAX of\u00a0US$21.6 million\u00a0and operating cash flow (before capex) of\u00a0US$15.0 million. \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Out of the 14 wells completed across SDX's portfolio in the year to date, eight were\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\/11\/Morocco-SDX-Energy.jpg?fit=1200%2C824&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Morocco-SDX-Energy.jpg?fit=1200%2C824&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Morocco-SDX-Energy.jpg?fit=1200%2C824&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Morocco-SDX-Energy.jpg?fit=1200%2C824&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Morocco-SDX-Energy.jpg?fit=1200%2C824&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":12067,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sdx-energy-announces-full-year-financial-and-operating-results\/","url_meta":{"origin":9441,"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. 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