Savannah Energy Plc, a leading British independent energy company, has announced a four per cent increase in its total revenues for the first seven months of 2025, reaching US$147.3 million.
According company’s unaudited operational and financial update, issued on Wednesday, 27 August, 2025 showcased significant improvements in cash collections, which rose by an impressive 37% year-on-year.
The Chief Executive Officer, Savannah Energy, Andrew Knott, while speaking on the company’s finances commented on the results, stating, “I am pleased to provide a trading update for the first seven months of 2025, highlighting Total Revenues1 of US$147.3 million and good progress in our core objectives for the year, including a 37% increase in cash collections year-on-year, with almost US$220 million collected in the year to date, and a 12% improvement in the Trade Receivables balance compared to year-end 2024.”
He also noted the company’s efforts to “‘tick-off’ the delivery of the nine focus area projects that we outlined at the beginning of the year.”
According to him, the company’s financial performance was underpinned by robust cash management, with cash collections climbing to US219.2millionfortheperiod, up from US160.0 million in the first seven months of 2024.
According to the company, as at July 31, 2025, its cash balances stood at “US93.7million, a substantial increase from US32.6 million at the end of 2024. This financial discipline also led to a 12% reduction in the trade receivables balance to US476.4million and a decrease in net debt to US591.9 million, down from US$636.9 million at the close of the previous year.
“Operationally, Savannah Energy has made marked progress in its core projects. The company signed a turnkey drilling contract for up to two new wells on its Uquo Field in Nigeria, with the Uquo NE well slated to begin drilling in January 2026.
“This development is forecast to provide a significant boost to Nigeria’s energy supply, with anticipated gas volumes of up to 80 million standard cubic feet per day (MMscf/d). Additionally, production at the Stubb Creek asset has risen by 20% compared to the 2024 average, reaching a current gross daily output of 3.2 Kbopd.”
The company also announced that it is finalising agreements with a consortium of five Nigerian banks to refinance its Accugas subsidiary’s debt.
“This strategic move aims to increase its Nigerian facility to approximately US$503 million, enabling the full repayment of the remaining outstanding US dollar debt during the second half of the year,” the company said.
