SDX has a 75% operated working interest across the Moroccan portfolio, which includes the Sebou Central, Gharb Occidental, Moulay Bouchta Ouest, and Lalla Mimouna Sud exploration permits, plus a number of exploitation concessions containing the producing wells. SDX sells the gas produced by its Moroccan assets to eight customers at contracted prices of between US$10-US$12/Mcf.
The Company’s Moroccan acreage (SDX 75% working interest and operator) consists of four concessions, all of which are located in the Gharb Basin in northern Morocco:
- Sebou
- Gharb Centre
- Lalla Mimouna Sud
- Moulay Bouchta Ouest
Lalla Mimouna Sud
- Working interest 75%
- 857 km2 permit, under-explored with strong potential
- Commitment to acquire 3D seismic.
Gharb Occidental (Centre)
- Working interest 75%
- 1343 km2 permit, with over 450 km2 of 3D seismic.
- Proven productive gas region
- Recent discoveries at OYF-2 and BMK-1 have extended the core play fairway and derisked P50 prospective resources in excess of 20 bcf unrisked.
Sebou
- Working interest 75%
- 210 km2 permit, of which 134 is covered with 3D seismic.
- Current production hub.
- Remaining prospectivity to be targeted in the 2021 drilling campaign.
Moulay Bouchta Ouest
- Working interest 75%
- 458 km2 permit, underexplored near old depleted oil fields
- Proven shallow gas at various wells
- Commitment to acquire 3D seismic.
Since 2017, SDX has performed an active drilling programme in our Gharb basin concessions, achieving a success rate of over 80% to date. Two of the discoveries, OYF-2 and BMK-1, proved an extension of the Company’s core productive area to the north. SDX estimates a recoverable resource of 2.2-2.8 bcf of gas for these wells, and a de-risked c.20 bcf of P50 prospective resources in the surrounding acreage.
Sebou Central
The Sebou Concession, located in the Gharb Basin, was acquired by SDX Energy in May of 2016 and 2D and 3D seismic surveys have been conducted over the majority of the Concession. As the current core area of production, it contributes in excess of 7.0 MMscf/day (1,166 boepd). 27 wells have been drilled in that area since 2008, resulting in 22 discoveries (a success rate of over 80%).
SDX also owns a 75% interest in the Kenitra industrial zone pipeline and local gas distribution network, with the concessions production being delivered directly to its customers in this area through the 8” 55km pipeline, that has a capacity of 20 MMscfd.
In Q2 2017, SDX received confirmation of the renewal of the Sebou exploration permit for eight years after committing to drill three exploration wells in the first four years. SDX also received confirmation of extensions to the following producing concessions in Sebou:
- Sidi Al Harati SW to 20 September 2023;
- Sidi Al Harati W to 17 October 2024;
- Ksiri Central to 18 January 2025;
- Oulad N’Zala Central to 15 May 2025.
Lalla Mimouna Sud
The Lalla Mimouna Sud permit, located in the Rharb Basin, covers an area of over 857 km2, of which just over 50 km2 is covered by 3D seismic. The permit is adjacent to the producing Sebou permit and future discoveries will be tied into the existing gas sales line to the Kenitra industrial zone. The regional basin architecture is well understood from the extensive 2D seismic framework of the area, with prospectivity established in multiple horizons throughout Miocene-aged strata.
The Lalla Mimouna Sud exploration concession was re-awarded to SDX for a period of eight years with a commitment to acquire 50 km2 of 3D seismic and drill one exploration well within the first three-year period. The 3D seismic commitment was met as part of the recent Gharb Centre 240 km2 3D seismic acquisition program.
Gharb Occidental
The Gharb Occidental exploration permit covers an area of 1,362.1 km2 and contains 5 fields which were discovered on legacy 2D seismic data and are now depleted. The 3D seismic dataset acquired in 2018 has yielded excellent results, with 4 wells drilled for 3 commercial discoveries. In particular, the OYF-2 and BMK-1 discoveries have led to the extension of the play fairway towards the North of the Sebou core area, and derisked in excess of 20 bcf of unrisked prospective resources in nearby prospects.
Moulay Bouchta Ouest
The Moulay Bouchta Ouest exploration licence (SDX 75% working interest and operator), covering an area of 458 km2 , has been awarded to SDX for a period of eight years. SDX has a commitment to reprocess 150 kilometres of 2D seismic data, acquire 100 km2 of new 3D seismic and drill one exploration well within the first three-and-a-half-year period.