Savannah Energy Records Another Strong Financial Performance As Uquo, Stubb Creek Drive Growth

Savannah Energy Plc, a British independent energy company, has reported another strong financial performance, maintaining its year-on-year growth trajectory across its African operations. Revenue increased by 10% to US$160.6 million compared to US$146.0 million in the same period last year. Cash collections in Nigeria rose by 13% to US$247.9 million, up from US$219.2 million in the first seven months of 2025.

The company's financial position also strengthened, with cash balances reaching US$62.0 million and net debt at US$672.0 million. Savannah has made significant progress in reducing outstanding receivables, with trade receivables falling by 22% to US$394.6 million. Notable operational achievements at the Uquo gas field and rising oil production from the Stubb Creek field have supported this financial performance.

Uquo 13 well, formerly known as Uquo NE, has been successfully completed and is now on stream, with gas production starting in July. The Uquo South exploration well is being completed and will be evaluated after testing. Stubb Creek is delivering production growth beyond expectations, with a 29% year-on-year increase in average gross daily oil production to approximately 3.7 Kboepd.

Chief Executive Officer Andrew Knott praised the company's progress in nine core focus areas and highlighted continued development at Stubb Creek and testing of the Uquo South discovery. The company is also pursuing value-accretive acquisition opportunities and implementing a hedging strategy to protect cash flows during periods of oil price volatility.