Savoy Energy Corp. (SNVP.OB) Executes Initiative to Reduce Environmental Impact and Operating Costs

QualityStocks would like to highlight Savoy Energy Corp. (OTCBB: SNVP). The company is an independent oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying 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.

In the company’s news today,

Savoy Energy Corporation announced that it is converting all applicable wells to operate on electricity as a source of energy to help lower maintenance costs and increase efficiency. The company commenced the conversion initiative Monday of this week to have electricity provided to those well sites.

“Electricity is cheaper as an energy source and electric motors don’t have the same maintenance issues as gas operated engines. Our Rozella Kifer well, which will soon be fitted with a jack shaft reducer, already operates on electricity. It’s our way of contributing to the protection of the environment and we intend to continue this trend with all future wells,” commented Art Bertagnolli, CEO of Savoy Energy Corporation.

Savoy Energy Corp. recently announced that its representatives and joint venture, Savoy-Masi Petroleum Corporation Limited, met with The Republic of Fiji Islands Ministry of Lands and Mineral Resources’ Netani Sukanaivalu. Topics discussed included stimulating Fiji’s economy through Oil exploration licenses, recompletion, and work-over activities of previously drilled wells.

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