Savanna Energy Services Corp.

Savanna Energy Services Corp.

March 29, 2017 07:30 ET

Savanna Announces Termination of Arrangement Agreement With Western Energy Services Corp.

CALGARY, ALBERTA--(Marketwired - March 29, 2017) - Savanna Energy Services Corp. ("Savanna") (TSX:SVY) announces it has terminated the arrangement agreement with Western Energy Services Corp. ("Western"), pursuant to which Western had agreed to acquire all of the outstanding common shares of Savanna on the basis of 0.85 of a common share of Western and $0.21 in cash per common share of Savanna.

About Savanna

Savanna is a leading contract drilling and oilfield services company operating in North America and Australia providing a broad range of drilling, well servicing and related services with a focus on fit for purpose technologies and industry-leading Aboriginal relationships.

Contact Information

  • Savanna Energy Services Corp.
    Chris Strong
    President and Chief Executive Officer
    (403) 267-6728

    Savanna Energy Services Corp.
    Dwayne LaMontagne
    Executive Vice President and Chief Financial Officer
    (403) 214-5959