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8 months ago
BRIEF-Savanna energy services reports interest from potential bidders, continued improvement in drilling, well servicing activity
December 15, 2016 / 12:09 PM / 8 months ago

BRIEF-Savanna energy services reports interest from potential bidders, continued improvement in drilling, well servicing activity

Dec 15 (Reuters) - Savanna Energy Services Corp :

* Savanna Energy Services Corp - special committee anticipates that a strategic alternatives process will commence in early 2017

* Savanna Energy Services Corp - seven original new-build contracts, still in place in Australia, begin to expire in second half of 2017

* Savanna Energy Services Corp - "based on current trends, stronger activity levels are expected to continue into 2017"

* Savanna Energy Services Corp - special committee intends to conduct a formal process early next year to explore strategic alternatives

* Savanna Energy Services Corp - Savanna expects to be operating 13 drilling rigs in Q1 2017

* Savanna Energy Services - expects to run between 25, 30 service rigs on average in Q1 2017, compared to average of 20 service rigs working during Q1 2016

* Savanna Energy Services Corp reports interest from potential bidders and continued improvement in drilling and well servicing activity Source text for Eikon: Further company coverage:

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