Savoy Energy Corporation (SNVP)
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Savoy Energy Corporation Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Arthur Bertagnolli CEO | OTC PINK Exchange | 80534P200 CUSIP |
| US Country | 1 Employees | - Last Dividend | 15 Jun 2009 Last Split | - IPO Date |
Overview
Savoy Energy Corporation specializes in the oil sector with a strategic focus on reviving and enhancing the production of oil from previously drilled but undeveloped wells across the United States. The company's operational strategy centers on entering or re-entering, re-completing, and extracting oil to sell from these wells. Based in Houston, Texas, Savoy Energy Corporation has managed to secure a significant presence in the oil market by leveraging its expertise to tap into the potential of wells that are both unproven and proven but remain developed or undeveloped. Its operations span across securing leasehold interests that attribute to its revenue and production capabilities, highlighting its role in the niche area of oil production from wells that have not been fully exploited.
Products and Services
- Re-entering and Re-completing Wells:
- Extracting and Selling Oil:
- Leasehold Interests:
Savoy Energy focuses on re-entering existing but idle wells and re-completing them for oil extraction. This involves using modern technology and techniques to tap into reservoirs that were not fully exploited or developed by previous operators. This approach not only reduces the environmental impact associated with new drillings but also capitalizes on the existing infrastructure to extract valuable oil resources.
The core of Savoy Energy’s operations lies in the extraction of oil from previously undeveloped and drilled wells. Following the re-entering and re-completing processes, the company moves forward with extracting oil. The extracted oil is then prepared and sold in the market, which constitutes the primary revenue source for the company. This process showcases Savoy Energy’s capability to harness untapped oil reserves and channel them into the energy market.
Savoy Energy holds leasehold interests that enable its extraction and sale of oil. These include a notable 49.25% undivided interest in lease acreage comprising 144 acres in Gonzales County, Texas. Additionally, the company holds a 5.0% overriding royalty interest in W.L. Barnett ET AL #1 & #2, and a 2.75% working interest in the Glass 59 #2 well. These interests represent the physical and legal frameworks within which Savoy Energy operates, contributing to its ability to access, develop, and monetize oil reserves.
