SDX Energy announced last week the discovery of two significant gas drilling targets in Morocco, according to a statement.
The drilling targets include the KSR-22 and OLME-A sites, which are estimated to contain 2.4 billion cubic feet (bcf) and 0.6 bcf of natural gas, respectively.
The discoveries follow a recent large-scale data reprocessing project that aimed to identify untapped gas reserves. According to SDX Energy, the total gas potential across its Moroccan sites now stands at an impressive 47 bcf, with the newly identified targets contributing over 3 bcf to that estimate.
The announcement comes as SDX Energy is engaged in discussions with the Moroccan National Office of Hydrocarbons and Mines (ONHYM) to gain approval for connecting an unlinked gas well to its network, a move expected to generate immediate revenue.
Looking ahead, SDX Energy has plans to expand its exploration activities further. A major drilling campaign is scheduled to begin in the fourth quarter of 2024, and the company is preparing a tender for additional seismic data acquisition in early 2025, which it hopes will lead to the discovery of even more gas reserves.
While awaiting approval from Moroccan authorities, SDX Energy is negotiating to connect multiple existing wells to the national gas network.