SDX Energy, the North Africa focused oil and gas company, said it has begun planning for a 12-well campaign in Morocco with drilling to start later this year.
In Morocco’s Gharb concession, where SDX holds a 75 per cent interest and operatorship, the company has processed 3D seismic data, which resulted in multiple leads and prospects identified.
The prospects will now be chosen for the 2019 drilling campaign of 12 wells, set to start in late third quarter or fourth quarter and finish during the first half of 2020, SDX said in an operational outlook.
During this campaign the LNB-1 and LMS-1 wells in Lalla Mimouna, originally drilled in 2018, will be retested, with the remainder of the programme’s targets coming from the recently acquired Gharb Centre 3D seismic.
It is anticipated that three wells from the 12 well programme will be completed and connected in 2019.
SDX Energy said its 2019 total gross capex is expected to be approximately US$10 million with SDX’s share being approximately $8 million. SDX is targeting gross production of 9-11 MMscf/d of conventional natural gas sales in 2019.
Meanwhile, the company also announced its intention to delist from the TSXV in conjunction with a move of its corporate residence of the group’s holding company to the UK from Canada.