Last checked at 
(Alliance News) - Oil and gas company SDX Energy PLC on Wednesday said its 2019 production rose year-on-year, and it added that output next year could improve by almost three-quarters.
For the 12 months to December 31, production rose 12% to 4,020 barrels of oil equivalent per day from 3,574.
For 2020, SDX anticipates production in the range of 6,750 and 7,000 barrels of oil equivalent per day. This could represent a year-on-year output improvement of as much as 74%.
In South Disouq, Egypt, 2019 production was 6.9 million standard cubic feet per day. It was first brought online during the fourth quarter.
SDX has a 55% share in the asset, and its production entitlement totals 630 barrels of oil equivalent per day.
Meseda, in which SDX has a 50% working interest, produced 4,180 barrels of oil per day, inside its 4,000 and 4,200 barrel per day guidance. SDX's entitlement to this rose 7.6% annually to 790 barrels of oil equivalent from 734.
In its 75%-owned Morocco operations, 2019 production came in at of 6.4 million standard cubic feet per day, well within the 6.0 and 6.5 million standard cubic feet per day guidance.
SDX's production entitlement in Morocco was 800 barrels of oil equivalent per day, a 24% improvement from 646 in 2018.
At the North West Gemsa concession in Egypt, dubbed a "non-core asset", output beat forecast, coming in at 3,600 barrels of oil equivalent per day. Guidance was for NW Gemsa to post 2019 production between 3,000 and 3,200 barrels per day.
SDX's share of 1,800 barrels of oil equivalent per day was an 18% drop from 2,194 a year before.
Shares in the company were 1.0% higher at 26.00 pence each in London on Wednesday morning.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
