Andrew Knott Archives | Energy Voice

Savannah Energy has signed a gas sales agreement for CNG supplies in Rivers State, with Mulak Energy, with an eye on displacing diesel.

Pipelines

Savannah signs supply deal for Rivers CNG

05/02/2021

by Ed Reed

Savannah Energy has signed a deal to supply gas to Mulak Energy, in Nigeria, for a CNG project in Rivers State.

Savannah Energy has rescheduled work, cutting costs and capex, while agreeing new terms with Lafarge on gas supplies.

E&P

Savannah cuts costs, tweaks gas sales deal

22/12/2020

by Ed Reed

Savannah Energy has set out cost and capital expenditure cuts, while also revising a gas sales agreement in Nigeria with Lafarge Africa.

Savannah Energy's gas production in Nigeria, is starting to pay off as power generators and industrial customers line up for supplies.

Africa

Gas cash flows for Savannah

31/07/2020

by Ed Reed

Last year was a “pivotal year” for Savannah Energy, the company has said announcing its 2019 preliminary results, as revenues flowed from its Nigerian portfolio.

Numis Securities has opted to cut its natural resources division, driving a number of companies to seek new brokers. Bloomberg, citing unnamed sources, said this decision came as mining and oil and gas sector work had dried up. The advisory firm is cutting both its equities and investment banking business. ADES International said it had received notice that Numis would no longer act as its joint broker with immediate effect. The company will continue to work with Investec Bank and Canaccord Genuity, it said. Other companies who have lost their broker include West Africa energy companies Lekoil and Savannah Energy, in addition to Greatland Gold. Savannah said Mirabaud Securities would act as its sole broker. Lekoil also retains Mirabaud, but has said it is seeking to appoint a second broker. Greatland, a mining company, said it was in advanced talks with a new joint broker. The unnamed broker would aim to grow Greatland’s institutional investor base. In the meantime, SI Capital will serve as its sole broker. Issuing a trading update at the beginning of July, Numis said its investment banking arm had benefited from an increase in capital markets transaction volumes. This had offset the decline in M&A and IPOs in the quarter coming to a close at the end of June. In a sign of its new focus, Nunmis flagged up capital raisings for larger corporate clients during the period. These included ASOS, Ocado and Unite. The broker has been pushing for a shift to clients with higher market capitalisations. It said these companies would offer more “revenue generating opportunities”. Setting out its interim results in May, Numis said it had been the weakest period for IPOs since 2012.

Africa

Savannah cashes in on Nigerian gas work

01/05/2020

by Ed Reed

Savannah Energy has paid down $40 million of debt as of the end of March as a result of its Nigerian gas supply business.

Africa

AIIM navigates Nigeria’s gas infrastructure challenge

31/01/2020

by Ed Reed

The Nigerian economy has a gas distribution and power generation problem. African Infrastructure Investment Managers (AIIM) is playing a part to tackle this, through its investment alongside Savannah Petroleum in assets previously owned by Seven Energy.

Assets recently acquired in Nigeria from Seven Energy

Africa

Savannah sets out Nigeria plans for 2020

11/12/2019

by Ed Reed

Savannah Petroleum expects to generate free cash flow of around $130 million per year from its recently acquired Nigerian assets, based on calculations from CGG Services.

Seven Energy infrastructure under maintenance in Nigeria

Africa

Savannah completes Nigerian entry with Seven Energy

15/11/2019

by Ed Reed

It has been a long time coming, but Savannah Petroleum has completed its acquisition of Seven Energy, broadening its focus from Nigerien exploration to including Nigerian production.

Africa

Savannah agrees $28million licence deal with Niger government

31/07/2015

by Phil Allan

Savannah Petroleum has signed a production sharing contract with the Niger government for the R3/R4 license area.