Morocco M&A | Managem acquires stake in Sound Energy’s Moroccan gas portfolio

June 21, 2024

On 17 June 2024, Sound Energy announced it had entered into a binding SPA for the partial divestment of its Moroccan portfolio to the Moroccan mining company Managem for up to US$45.2 million. Managem will acquire interests in the Tendrara basin in the northeast of the country including 55% in the Tendrara Production Concession, 47.5% in the Grand Tendrara Exploration Permit and 47.5% in the Anoual Exploration Permit.