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Savannah Energy hails 'strong platform' for growth in 2026

Tue 30 Dec 2025 08:05

(Sharecast News) - British energy company Savannah Energy has said it has created a "strong platform" for 2026 after recent solid operational progress, with more projects expected to come on-stream early next year. Gross daily production averaged 19.1k barrels of oil equivalents per day over the first 11 months of 2025, down from 22.8kboepd the year before.

However, output at the part-owned Stubb Creek project - acquired as part of the SIPEC acquisition in March - has increased to 3.3kboepd, up 24% on the year before.

Well site construction for the Uquo NE development well is expected to be completed by the end of December, with a spud date tipped for January and first gas targeted by the end of the first quarter.

As well as site preparation starting at the Uquo South exploration well, a new compression system at the Uquo Central Processing Facility completed and fully commissioned, allowing Savannah to maximise production from existing and future gas wells.

Meanwhile, the previously announced proposed acquisition of indirect interests in three East African hydropower projects is targeted to complete in the first quarter. Progress is also being made at existing Power Division projects, including a Niger wind farm and a hydroelectric and solar project in Cameroon.

Revenues totalled $218.1m over the 11-month period, down from $226.7m the year before.

"Collectively, this progress provides a strong platform for continued execution in 2026," said chief executive Andrew Knott.

Shares were up 1.1% at 3.74p by 0835 GMT.

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