SDX Energy Inc., London, has agreed to drill an exploration well and do seismic work on each of two licenses it has been awarded in Morocco.
On the Moulay Bouchta Ouest exploration license, it will reprocess 150 line-km of 2D seismic data and acquire 100 sq km of 3D seismic data. The seismic work and drilling of the exploration well are to be completed within the first 3½ years of the 8-year license term.
The renewed 857-sq-km Lalla Mimouna Sud license also has an 8-year term, during the first 3 years of which SDX is to drill the well and acquire 50 sq km of 3D seismic data.
SDX originally acquired the license when it bought Moroccan and Egyptian assets from Circle Oil PLC for $30 million in January 2017. The license expired after completion of work commitments.
SDX applied for and won back the license after acquiring additional 3D seismic data in the area.
