Total Energy Services announces that Savanna Energy Services Corp., a wholly-owned subsidiary of Total Energy, has purchased $39.6 million aggregate principal amount of 7 percent senior unsecured notes of Savanna due May 2018 that were tendered to Savanna's change of control offer made on April 24, 2017 at a price of 101% of the aggregate principal [...]
Total Energy Services and Savanna Energy Services announced today that Total Energy has completed its acquisition of Savanna. Earlier today, at a special meeting held in Calgary, Alberta, the holders of common shares of Savanna overwhelmingly approved the amalgamation of Savanna and 2043324 Alberta Ltd., a wholly-owned subsidiary of Total Energy [...]
Savanna Energy Services announces that at its special meeting of shareholders held earlier today, holders of common shares of Savanna approved the amalgamation of Savanna and 2043224 Alberta Ltd., a wholly owned subsidiary of Total Energy Services Inc. A total of 107,202,817 Savanna Shares (approximately 90.58% of the issued and outstanding Savanna [...]
Savanna Energy Services and Total Energy Services announced today that they have entered into an amalgamation agreement with 2043324 Alberta, a wholly-owned subsidiary of Total Energy, under which Savanna will amalgamate with 2043324, with the amalgamated entity becoming an wholly-owned subsidiary of Total Energy. The Amalgamation, which is subject [...]
Savanna Energy Services is pleased to announce the appointment of Lyle Whitmarsh as President of Savanna. Mr. Whitmarsh currently serves on the Board of Directors of Savanna and will assume the duties of President effective June 1, 2017. Mr. Whitmarsh is a seasoned industry executive with over 33 years of experience in the oil and gas industry [...]
Savanna generated revenue of $117.3 million, EBITDAS of $10.8 million and a net loss, attributable to shareholders of the Company, of $19.8 million or $0.17 per share in the first quarter of 2017, compared to revenue of $93.7 million, EBITDAS of $20.3 million and a net loss, attributable to shareholders of the Company, of $10.1 million or $0.11 per [...]
Savanna Energy Services announces that, in connection with the acquisition by Total Energy Services of more than 50% of the outstanding common shares of Savanna pursuant to Total's offer to purchase all of the common shares of Savanna, Savanna has issued a Notice of Change of Control and Change of Control Offer to repurchase the outstanding Cdn [...]
Savanna Energy Services intends to release its First Quarter 2017 results after markets close on Friday, May 12, 2017. The results will be available on the Company's web site after the dissemination has taken place over the news wire service.
Savanna Energy Services from Western Energy Services for payment of a termination fee in the amount of $20 million pursuant to the arrangement agreement between Savanna and Western dated March 8, 2017, as amended on March 14, 2017. Savanna terminated the Arrangement Agreement on March 28, 2017 following the acquisition by Total Energy Services Inc [...]
Savanna Energy Services announces it has received a notice of an event of default pursuant to its second lien credit facility with Alberta Investment Management as a result of the acquisition by Total Energy Services of more than 50% of the outstanding common shares of Savanna and Savanna's failure to pay the obligations owing pursuant to the [...]
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