London-based energy company SDX Energy has completed drilling the BMK-2 well in the Gharb Basin, northwest Morocco. The well, reaching a depth of 1,412 meters, encountered a promising 9-meter interval at 1,265 meters, believed to be its primary target. SDX Energy reported gas readings about 100 times higher than background levels, indicating substantial gas reserves. The company plans to sidetrack the well to the target formation once the necessary equipment is mobilized. This development follows the approval for gas production in the KSR-21 well in the same basin. SDX Energy has been expediting its operations in Morocco, leveraging proceeds from the recent $6.6 million sale of its West Gharib interests in Egypt to bolster activities in Morocco. The company holds a 75 percent working interest in Moroccan permits, including Sebou Central, Gharb Occidental, Moulay Bouchta Ouest, and Lalla Mimouna Sud, selling gas to eight customers at contracted prices ranging from $10-$12 per thousand cubic feet.
The British energy company's swift actions in Morocco signal its strategic shift, with a focus on capitalizing on the country's promising energy prospects.