Stock Market News
Savannah Petroleum gears up for maiden drilling programme
AIM-quoted oil and gas company Savannah Petroleum has completed construction of the first well pad on the R3 portion of its Agadem Basin operations in south-east Niger, taking the company one step closer to kicking off its maiden drill programme in the West African nation.
Construction of the Bushiya well pad was completed last month, with Savannah moving more than 100 workers to the site, including a rig crew and supervisors in order to prepare the location for spudding.
In preparation for the rest of the drilling campaign, well pad construction at Savannah's second well, Amdigh, was over 20% complete, with civil work operations at the site expected to be complete by the end of March.
Andrew Knott, chief executive of Savannah Petroleum, said, "We are delighted to be on the cusp of commencing our maiden drilling operations in Niger, which represents the culmination of thousands of man-hours of technical and operational work. The drilling campaign has the potential to be transformational for both Savannah and the local communities in which we are operating."
Savannah assessed a total mean unrisked recoverable resource of 110m barrels of oil across the three targets.
As of 0840 GMT, shares had picked up 2.67% to 29.98p.
Construction of the Bushiya well pad was completed last month, with Savannah moving more than 100 workers to the site, including a rig crew and supervisors in order to prepare the location for spudding.
In preparation for the rest of the drilling campaign, well pad construction at Savannah's second well, Amdigh, was over 20% complete, with civil work operations at the site expected to be complete by the end of March.
Andrew Knott, chief executive of Savannah Petroleum, said, "We are delighted to be on the cusp of commencing our maiden drilling operations in Niger, which represents the culmination of thousands of man-hours of technical and operational work. The drilling campaign has the potential to be transformational for both Savannah and the local communities in which we are operating."
Savannah assessed a total mean unrisked recoverable resource of 110m barrels of oil across the three targets.
As of 0840 GMT, shares had picked up 2.67% to 29.98p.
Related share prices |
---|
Savannah Petroleum (SAVP) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price