SDX Energy survives in Egypt as others fail3 February 2017
Small oil producer SDX Energy is about to move into Egypt’s increasingly crowded gas sector. The company will spud its first well towards the end of this month in the South Disouq concession in the Abu Madi-Baltim trend, an area where 178 billion cubic metres of gas has been found over 10 discoveries.
SDX has managed to come through Egypt’s currency and economic crises unscathed: it has no debt, no overdue receivables, and has survived where other companies – such as Circle Oil and Petroceltic – have failed. SDX picked up Circle Oil’s Egyptian and Moroccan assets for $30 million this week.
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