Savannah Energy grows revenue to $160.6m in 7 months

Savannah Energy PLC, the British independent energy company focused around the delivery of projects that matter, has released its operational and financial result on its Nigerian operations and other markets in Africa for the seven months to 31 July 2026, recording revenue of $160.6 million.

The revenue of the energy company which also released up-to-date cash collections in its Nigerian business, increased by 10 per cent year-on-year compared to $146.0 million during the first seven months of 2025.

As at 31 July 2026, its cash balances totalled $62.0 million against $42.7 million as at 31 December 2025. The net debt stood at $672.0 million compared with $658.8 million recorded at the end of December, 2025. Its trade receivables balance as at 31 July 2026 was $394.6 million, a 22 per cent reduction on year-end 2025.

The report also shows that its cash collections in Nigeria increased by 13 per cent year-on-year to $247.9 million during the 7-month period, compared to $219.2 million during the same period in financial year 2025.

The update shows that its group daily gross production averaged 16.3 Kboepd for 7 months in 2026, compared to 18.8 Kboepd during the same period in Financial Year 2025. With its Uquo 13 now on stream, it expects its average gross daily production to exceed 20 Kboepd over the remaining five months of the year, with financial year 2026 average gross daily production anticipated to be in the range of 18-20 Kboepd, including further upside potential from the Uquo South exploration well.

Commenting on the performance, Chief Executive Officer of Savannah Energy, Andrew Knott “2025 was a year of execution for Savannah with good progress delivered across the nine focus areas we set out at the start of the year.

In Nigeria, we increased our rate of cash collections year-on-year by 12%, a trend which we hope to continue into 2026, and have made significant progress in refinancing our debt facilities.