3 days ago · SIPEC owns a 49% non-operated stake in the Stubb Creek oil and gas field (Stubb Creek Field), with the remaining 51% operated by Universal Energy Resources, a Savannah affiliate. The SIPEC Acquisition is highly accretive to Savannah’s group net asset value, with SIPEC’s management estimated value at $194m on a pre-debt basis.

4 days ago · The total consideration paid at completion was approximately $35.1m, inclusive of $19.5m of SIPEC’s cash reserves, with an additional $2m in deferred cash consideration payable over eight quarterly instalments. ... Since commencing commercial oil production in 2015, the field has produced 8.1 MMstb as of December 31, 2024,” it added. ...

4 days ago · Savannah Energy Plc says it has completed the acquisition of Sinopec International Petroleum Exploration and Production Company Nigeria Limited, strengthening its foothold in Nigeria’s oil and gas sector. A statement from the company said the deal grants Savannah a 49 per cent non-operated stake in the Stubb Creek oil and gas field, which is 51 […]

3 days ago · SIPEC’s principal asset is the 49% non-operated interest in the Stubb Creek oil & gas field (Stubb Creek Field), which is operated and 51% owned by Universal Energy Resources Limited (a Savannah affiliate company). The SIPEC Acquisition increases Savannah’s reserves and resources base by approximately 30% from 151 MMboe to 197 MMboe.

3 days ago · Savannah Energy Plc, a British independent energy firm, has finalized the acquisition of Sinopec International Petroleum Exploration and Production Company Nigeria Limited (SIPEC). The $35.1 million transaction will boost Savannah Energy’s total reserves and resources by 30% from the current 151 million barrels of oil equivalent (MMboe) to 197 MMboe.

4 days ago · “SIPEC’s principal asset is the 49 percent non-operated interest in the Stubb Creek oil & gas field (Stubb Creek Field), which is operated and 51 percent owned by Universal Energy Resources Limited (a Savannah affiliate company),” Savannah said.

3 days ago · SIPEC's principal asset is the 49% non-operated interest in the Stubb Creek oil & gas field ("Stubb Creek Field"), which is operated and 51% owned by Universal Energy Resources Limited (a Savannah affiliate company).

4 days ago · Savannah Energy acquires SIPEC, boosting oil and gas reserves by 30%. The deal includes a 49% interest in Stubb Creek Field, with plans to increase production by nearly 75% over the next 18 months ...

5 days ago · The SIPEC Acquisition increases Savannah’s Reserves and Resources base by approximately 30% from 151 MMboe to 197 MMboe. It adds 227 Bscf of 2C gross gas Resources at Stubb Creek Field, securing significant additional long-term feedstock gas available for sale to Accugas customers.

1 day ago · The company, in a statement, said SIPEC’s principal asset is the 49 per cent non-operated interest in the Stubb Creek oil & gas field, which is operated and 51 per cent owned by Universal Energy ...