Savoy Energy Corp., an independent oil and gas company, is focused on building a diversified portfolio of valuable oil and gas assets in the United States. Incorporated in 1982, the companyâ€™s business model is to identify abandoned oil and gas assets, which are then brought online through recompletion and work-over activities, a meticulous process of evaluation, application of modern well technology, and stringent management controls.
The companyâ€™s officers, directors and geologists together retain more than a century of combined experience in the oil and gas industry. The management team is focused on strategically increasing Savoy Energy’s asset base and cash flow, while significantly reducing the cost of initial drilling, effectively reducing the risk of traditional exploration projects. Furthermore, the companyâ€™s financial structure allows it to minimize the high overhead of traditional E&P companies.
Today, itâ€™s a distinct financial advantage to be a small company looking for small abandoned properties for acquisition. Larger companies, as well as most mid-size companies, are searching for large acquisitions and new drilling to successfully increase the size of their company. However, large acquisitions are expensive and the cost of drilling can prolong the return on investment. Furthermore, large plays are difficult to locate, encouraging most companies to look outside U.S. borders.
Since inception, Savoy Energy has successfully owned or participated in more than 100 wells in Texas, Oklahoma, and Ohio. Currently, the company leases four properties in Gonzales County, Texas. These properties include: Wright, 485.41 acres; Rozella Kifer, 193.003 acres; Ali-O No.1, 82.66 acres; and Zavadil No.1, 45 acres. Savoy Energyâ€™s phased approach is to concentrate on existing low maintenance production, exploit low risk sidetrack drilling opportunities as identified through day to day research, and use the accumulated information and results to advance operations.
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