
Savoy Energy Corporation, an independent oil and gas company based in Texas, specializes in what is called “recompletion” and “workover” activities. What this means is that the company is very good at identifying and acquiring abandoned oil and gas wells that still have a lot to give, and bringing them back into production using advanced processing technologies and careful management. Savoy is known for its ability to economically extract significant remaining product from abandoned wells.
Savoy is already producing oil from four wells, and has identified 18 other U.S. wells that are favorable candidates for turnaround. In addition, the company recently announced plans to create a joint venture in the South Pacific island of Fiji to license properties there for oil exploration and drilling.
As long term fossil fuel prices continue to rise, the demand for more production from previously producing wells is
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