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Last C$2.08 CAD
Change Today -0.03 / -1.42%
Volume 145.5K
As of 4:00 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

savanna energy services corp (SVY) Snapshot

Previous Close
Day High
Day Low
52 Week High
04/28/14 - C$9.32
52 Week Low
03/20/15 - C$1.51
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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savanna energy services corp (SVY) Details

Savanna Energy Services Corp., through its subsidiaries, operates as an energy services provider for the oil and gas industry in Canada, the United States, and Australia. The company operates through Services and Drilling segments. It offers contract drilling services through its triple and single drilling rigs, conventional telescopic double drilling rigs, and hybrid drilling rigs; and well servicing and other ancillary services, as well as rents equipment. It operates a fleet of approximately 100 drilling rigs and 100 well service rigs. The company was founded in 1970 and is headquartered in Calgary, Canada.

Founded in 1970

savanna energy services corp (SVY) Top Compensated Officers

Interim Chief Executive Officer and Interim P...
Total Annual Compensation: C$282.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: C$282.0K
Executive Vice President of Corporate
Total Annual Compensation: C$282.0K
Compensation as of Fiscal Year 2014.

savanna energy services corp (SVY) Key Developments

Savanna Energy Services Corp. Announces Renewal and Extension of Senior Secured Credit Facility and Amendments to Financial Covenants

Savanna Energy Services Corp. announced that Savanna's syndicate of lenders have approved the renewal and extension of its senior secured credit facility and amendments to the financial covenants related thereto. The renewal, extension, and financial covenant amendments provide Savanna with increased financial flexibility amidst the prevailing uncertain market conditions. Savanna's senior secured revolving credit facility remains comprised of a $220 million Canadian syndicated facility, a $10 million Australian facility, and a $20 million Canadian operating facility. In addition, as part of the renewal, Savanna retained an available $50 million accordion, which it can request as an increase to the total available facility. The entire $250 million facility is for a committed four-year term and, based on the renewal, all drawn amounts are now due in May 2019. The credit facility has maintained an earlier maturity date of January 25, 2018 if Savanna's $175 million senior unsecured notes are not repaid or refinanced on terms acceptable to the lenders by that date. The credit facility does not require any mandatory principal payments prior to maturity and can be further extended beyond May 2019 with the consent of the lenders. The senior secured revolving credit facility had established financial covenants including Total Funded Debt to EBITDA (twelve-month trailing) at or below 4.0:1. In response to the precipitous drop in crude oil prices, lenders have agreed to revise the Total Funded Debt to EBITDA financial covenant to the following: for the quarter ending Sep. 30, 2015, 4.50:1; for the quarter ending Dec. 31, 2015, 5.25:1; for the quarter ending Mar. 31, 2016, 5.25:1; for the quarter ending Jun. 30, 2016, 5.00:1; for the quarter ending Sep. 30, 2016, 5.00:1; for the quarter ending Dec. 31, 2016, 4.50:1; and thereafter 4.00:1.

Savanna Energy Services Corp. Decides to Eliminate the Quarterly Dividend

The Board of Directors of Savanna Energy Services Corp. has decided to eliminate the quarterly dividend of $0.03 per share on Savanna's common shares after payment of the previously declared dividend to shareholders of record on March 31, 2015 and payable on April 15, 2015.

Savanna Energy Services Corp. Declares Quarterly Dividend

Savanna Energy Services Corp. announced that the dividend was reduced from three cents per share per month (36 cents per share per year), and declared a three cents per share quarterly dividend to be paid to shareholders of record on March 31, 2015. The company also suspended its dividend reinvestment plan with respect to dividends paid after Jan. 15, 2015.


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SVY Competitors

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Company Last Change
AKITA Drilling Ltd C$10.95 CAD 0.00
CanElson Drilling Inc C$4.44 CAD -0.07
Trinidad Drilling Ltd C$5.12 CAD -0.05
Western Energy Services Corp C$6.89 CAD -0.03
Xtreme Drilling & Coil Services Corp C$2.03 CAD -0.07
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Valuation SVY Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.2x
Price/Book 0.3x
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful

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