Savannah Energy Plc reported total revenues of $258.9 million for the year ended December 31, 2024, exceeding its earlier guidance of over $245 million.

Operating expenses were $71.0 million, below the forecasted $75 million, with capital expenditure at $23.1 million driven by phasing of spend.

The firm recorded a 21% increase in 2P Reserves at its Uquo field in Nigeria, bringing total increase since acquisition to 81%, while average daily production was 23.1 Kboepd, mostly gas.

CEO Andrew Knott highlighted progress on key projects, including debt refinancing and the acquisition of Sinopec International Petroleum Exploration’s Nigerian operations in Q1 2025.