London-listed Savannah Energy has agreed to buyout its partners' 49% stake in an oilfield in southern Nigeria for a total of $61.5 million, the company said on Tuesday. Savannah, which has operations in Nigeria, Cameroon and Niger, said the deal would be financed through debt arranged by Standard Bank of South Africa. The firm agreed to pay $52 million in cash for a stake in the Stubb Creek oil and gas field held by China's Sinopec International Petroleum Exploration and Production Corporation and $9.5 million for the shares held by Jagal Energy.
Savannah Energy ( LON:SAVE ) First Half 2023 Results Key Financial Results Revenue: US$123.7m (up 44% from 1H 2022...
When you see that almost half of the companies in the Oil and Gas industry in the United Kingdom have price-to-sales...