{"id":9751,"date":"2021-01-25T21:28:57","date_gmt":"2021-01-25T21:28:57","guid":{"rendered":"https:\/\/oilnewskenya.com\/?p=9751"},"modified":"2021-01-25T21:28:57","modified_gmt":"2021-01-25T21:28:57","slug":"savannah-petroleum-provides-fy-2020-nigeria-operational-highlights","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/savannah-petroleum-provides-fy-2020-nigeria-operational-highlights\/","title":{"rendered":"Savannah Petroleum Provides FY 2020 Nigeria Operational Highlights"},"content":{"rendered":"<ul>\n<li class=\"fl\"><span class=\"ek\">\u00a0<\/span><span class=\"es\">FY 2020 average gross daily production was 19.5 Kboepd, a 13.5% increase from the average gross daily production of 17.2 Kboepd in FY 2019, and at the mid-point of the Gross Production guidance range for FY 2020 of\u00a0<\/span><span class=\"es\">19.0 &#8211; 20.0 Kboepd<\/span><span class=\"es\">; and<\/span><\/li>\n<li><\/li>\n<li><span class=\"es\">Of the FY 2020 total average gross daily production of 19.5 Kboepd, 88% was gas, including a 16.6% increase in production from the Uquo gas field compared to last year, from 88.1 MMscfpd (14.7 Kboepd) to 102.8 MMscfpd (17.1 Kboepd).<\/span><\/li>\n<\/ul>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-9752 size-full\" src=\"https:\/\/i0.wp.com\/oilnewskenya.com\/wp-content\/uploads\/2021\/01\/Nigeria-Savannah-Petroleum.jpg?resize=1170%2C177&#038;ssl=1\" alt=\"\" width=\"1170\" height=\"177\" srcset=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/Nigeria-Savannah-Petroleum.jpg?w=1220&amp;ssl=1 1220w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/Nigeria-Savannah-Petroleum.jpg?resize=600%2C91&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/Nigeria-Savannah-Petroleum.jpg?resize=300%2C45&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/Nigeria-Savannah-Petroleum.jpg?resize=1024%2C155&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/Nigeria-Savannah-Petroleum.jpg?resize=100%2C15&amp;ssl=1 100w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/Nigeria-Savannah-Petroleum.jpg?resize=768%2C116&amp;ssl=1 768w\" sizes=\"auto, (max-width: 1170px) 100vw, 1170px\" \/><\/p>\n<p class=\"fg\"><span class=\"es\">Andrew Knott, CEO of Savannah Energy, said:<\/span><span class=\"es\">\u00a0<\/span><span class=\"es\">\u00a0<\/span><\/p>\n<p class=\"fi\"><span class=\"es\">&#8220;As this FY 2020 trading update demonstrates, despite the challenging headwinds, 2020 was a milestone year for Savannah Energy. It was our first full year of operating the high margin assets we acquired in Nigeria and I am delighted to report that we have significantly exceeded all of the original financial guidance we presented to the market this year, as laid out in our corporate Key Performance Indicator statement published within our FY 2019 Annual Report. In 2020 we grew revenues, reduced our underlying cost base and continued to provide gas contributing to over 10% of Nigeria&#8217;s daily national average power generation, highlighting the resilience of the business.<\/span><span class=\"es\">\u00a0<\/span><\/p>\n<p class=\"fi\"><span class=\"es\">Looking forward to 2021, we are providing guidance for the year for continued strong revenue generation, investments in key drilling and compression projects and an increased level of maintenance project activity versus 2020.\u00a0 Overall we have reduced our cost estimate for our indicative 2020-23 capital expenditure programme by around 13%, versus our previous indications and are guiding that we expect our underlying operating costs (which include maintenance expenditures) to track levels consistent with 2020 (in real terms) over the medium term. It should also be noted that our 2021 guidance excludes contributions from any new gas sales agreements or any contribution from the R3 East development project in Niger, which would be incremental to this.<\/span><span class=\"es\">\u00a0<\/span><\/p>\n<p class=\"fi\"><span class=\"es\">I am excited around the potential for our business to grow further over the coming years, especially given the opportunity-rich West African environment in which we operate, and look forward to keeping our stakeholders up to date on the progress we make.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0FY 2020 average gross daily production was 19.5 Kboepd, a 13.5% increase from the average gross daily production of 17.2 Kboepd in FY 2019, and at the mid-point of the &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/savannah-petroleum-provides-fy-2020-nigeria-operational-highlights\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":9753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11,7444],"tags":[8038,1749,8939,8044,8938],"class_list":["post-9751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","category-west-africa","tag-niger","tag-nigeria","tag-r3-east-development-project","tag-savannah-petroleum","tag-uquo","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/Nigeria-Savannah-Petroleum-Uquo-map.png?fit=1390%2C739&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2xh","jetpack-related-posts":[{"id":8739,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-niger-savannah-energy-provides-operational-update-for-h1-outlook-for-fy-2020\/","url_meta":{"origin":9751,"position":0},"title":"NIGERIA\/NIGER: Savannah Energy Provides Operational Update for H1 &#038; Outlook for FY 2020","author":"","date":"August 3, 2020","format":false,"excerpt":"H1 2020 Operational Update Nigeria \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0H1 2020 cash collections from the Nigerian Assets of US$82.1m compared to US$55.3m in H1 2019; \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Average gross daily production, of which 89% was gas, increased 18% during H1 2020 to 21.3 Kboepd (H1 2019: 18.1 Kboepd). This includes a 22% increase in production from\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Savannah-Energy.jpg?fit=400%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11224,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-updated-cpr-report-increases-savanna-energys-2p-reserves-by-27\/","url_meta":{"origin":9751,"position":1},"title":"NIGERIA: Updated CPR Report Increases Savanna Energy&#8217;s 2P Reserves by 27%","author":"","date":"November 23, 2021","format":false,"excerpt":"An updated Competent Person's Report CPR was compiled by CGG Services (UK) Ltd covering Savanna Energy's assets in Nigeria has placed them at 108.6 MMboe 2P Reserves up from 85.5MMboe in 2019 with with additional 99.7 MMboein\u00a0 2C Contingent Resources up from 98.0MMboe in 2019. The significant increase is attributed\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15045,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-niger-savannah-energy-provides-q1-trading-update-terming-2025-an-exciting-year\/","url_meta":{"origin":9751,"position":2},"title":"NIGERIA\/NIGER: Savannah Energy  Provides Q1 Trading Update terming 2025 an &#8220;Exciting Year&#8221;","author":"","date":"May 20, 2025","format":false,"excerpt":"Nigeria Existing BusinessAverage gross daily production was 23.6 Kboepd for Q1 2025, broadly in line with the prior year period (Q1 2024: 24.1 Kboepd). On 10 March 2025, we announced the completion of the SIPEC Acquisition. Since its completion, we have commenced work on the planned production expansion with an\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Savannah-Energy.png?fit=458%2C358&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13569,"url":"https:\/\/www.oilnewskenya.com\/index.php\/savannah-energy-provides-q1-2023-financial-and-operational-update\/","url_meta":{"origin":9751,"position":3},"title":"Savannah Energy Provides Q1 2023 Financial and Operational Update","author":"","date":"April 14, 2023","format":false,"excerpt":"Q1 2023 Unaudited Financial Highlights Q1 2023 Total Revenues2 of US$147.6m comprising Q1 2023 Total Revenues2 from Nigerian operations of US$71.0m (up 29% on Nigerian operations Q1 2022 Total Revenues2 of US$55.0m)plus Chad upstream revenues of US$76.6m; and Group cash balance of US$217.3m3 and net debt of US$412.2m4.Q1 2023 Operational\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14248,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-provides-2023-operational-performance-2024-outlook\/","url_meta":{"origin":9751,"position":4},"title":"Tullow Oil Provides 2023 Operational Performance 2024 Outlook","author":"","date":"March 6, 2024","format":false,"excerpt":"Operational performance In 2023, full year working interest production averaged 62.7 kboepd, including 6.9 kboepd of gas. Group working interest production is expected to increase year-on-year and our guidance range for 2024 is 62-68 kboepd, including c.7 kboepd of gas production. Group working interest production (kboepd)FY 2023FY 2024 GuidanceGhana\u00a0oil42.648\u00a0 \u00a0Jubilee\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12829,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-november-trading-statement-operational-update\/","url_meta":{"origin":9751,"position":5},"title":"Tullow Oil November Trading Statement &#038; Operational Update","author":"","date":"November 16, 2022","format":false,"excerpt":"OPERATIONAL UPDATE Production Group net working interest production averaged c.61.8 kboepd to end October 2022, in line with guidance. Full year production guidance for 2022 narrowed from 60-64 kbopd to 61-62 kbopd. Group average working interest production FY 2022 guidance (kboepd) Ghana 45 \u00a0\u00a0\u00a0\u00a0Jubilee 32 \u00a0\u00a0\u00a0\u00a0TEN 13 Non-operated portfolio 17\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=9751"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9751\/revisions"}],"predecessor-version":[{"id":9755,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9751\/revisions\/9755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/9753"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=9751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=9751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=9751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}