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News Releases

Dec

13

2016

SAVANNA APPOINTS SPECIAL COMMITTEE TO OVERSEE RESPONSE TO TOTAL ENERGY’S UNSOLICITED TAKEOVER BID-Advises Shareholders to take no action

CALGARY, December 12, 2016 – Savanna Energy Services Corp. (“Savanna“) (TSX–SVY) today announced that it has appointed a Special Committee of independent directors to oversee Savanna’s response to an unsolicited takeover bid launched by Total Energy Services Inc. (“Total“). The Special Committee is comprised of James Saunders (Chair), Allen Brooks, Stella Cosby, John Hooks and Read More.

Dec

7

2016

Savanna Provides Update to AIMCo Financing

CALGARY, November 28, 2016 – Savanna Energy Services Corp. (“Savanna“) (TSX–SVY) announces that Alberta Investment Management Corporation (“AIMCo“) has advised it that AIMCo does not intend to consent to a change of control of Savanna that may result from Total Energy Services Inc.’s previously announced intention to make an offer for the outstanding common shares Read More.

Dec

7

2016

Savanna Responds to Announcement of Total’s Intention to Make An Unsolicited Offer For Savanna

CALGARY, November 24, 2016 – Savanna Energy Services Corp. (“Savanna“) (TSX–SVY) confirms that it is aware of the announcement by Total Energy Services Inc. (“Total“) that it intends, subject to a number of conditions, to make an unsolicited takeover bid for the outstanding common shares of Savanna (“Common Shares“).

Nov

22

2016

Savanna Announces Concurrent Debt Financing, Private Placement and Bought Deal Financing

CALGARY, November 22, 2016 – Savanna Energy Services Corp. (“Savanna”) (TSX–SVY) is pleased to announce that it has entered into agreements with Alberta Investment Management Corporation (“AIMCo”) providing for a $200 million second lien senior secured term loan facility and a private placement (the “Private Placement”) of 13,000,000 common shares of Savanna (“Common Shares”) at Read More.

Nov

8

2016

Savanna Energy Services Corp. Announces Third Quarter 2016 Results and Reactivation of Drilling Rigs in the Permian Basin

Savanna generated revenue of $71.1 million, adjusted EBITDAS of $11.2 million and a net loss, attributable to shareholders of the Company, of $11.1 million or $0.12 per share in the third quarter of 2016, compared to revenue of $98 million, adjusted EBITDAS of $25.3 million and a net loss, attributable to shareholders of the Company, Read More.

Investor Relations Disclaimer

Savanna Energy Services Corp. ("Savanna" or "the Company") is a public company trading on the Toronto Stock Exchange under the symbol SVY. Savanna's expectations and predictions for the future are discussed in our press releases, presentations, quarterly and annual reports. Such statements, including statements in this document and the documents listed above that relate to matters that are not historical are forward-looking statements within the relevant securities regulations in Canada and elsewhere. Certain forward-looking statements may constitute projections regarding future events or the future financial performance of Savanna Energy Services Corp. When used in this website, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect" and similar expressions, as they relate to Savanna Energy Services Corp., are intended to identify forward-looking statements. Such statements reflect Savanna Energy Services Corp.'s views at the time such statements are made with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Savanna Energy Services Corp.'s actual results, performance or achievements to vary from those expressed or implied in such forward-looking statements or could affect the extent to which a particular projection is realized.

It is important to take the following factors into consideration when evaluating Savanna Energy Services Corp.

  • The rise and fall in worldwide prices and demand for oil and gas.
  • Changes in the demand for our services, competitors' existence, technological changes and developments in the oilfield services industry.
  • Changes in levels of natural gas and crude oil exploration and development activities.
  • The continuation of operating risks inherent in the oil field services industry.
  • The continuation of regulatory and legislative uncertainties.
  • The change in tax laws.
  • Political instability, war or acts of terrorism in any of the countries in which we do business.
  • General economic conditions.

Savanna's business depends significantly on the level of spending by oil and gas companies for exploration, development and production activities. Sustained increases or decreases in the price of natural gas or oil could materially impact such activities, and thereby materially affect our financial position, results of operations and cash flows.

The above disclaimer outlines the risks and factors which are important to consider.

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