Savanna Energy Services Corp (SVY.TO) said on Thursday it had received interest from other potential bidders after fellow oilfield services provider Total Energy Services Inc (TOT.TO) went hostile with its offer to buy the company.

Calgary-based Savanna, whose shares rose as much as 10.5 per cent to $2.00 in morning trading, said it would explore strategic alternatives early next year.

Total Energy, also based on Calgary, first made a proposal to buy Savanna in November, offering 0.1132 of its shares for each Savanna share.

The company raised its offer to 0.1300 of its shares earlier this month and took it directly to Savanna's shareholders. Savanna said on Monday it would review the latest unsolicited bid.

Savanna Energy had a market value of about $190 million as of Wednesday's close, while Total Energy was valued at about $435 million.

A more than 50-per-cent fall in oil prices since mid-2014 eroded demand for services provided by oilfield companies, setting off a wave of consolidation.

U.S. driller Patterson-UTI Energy Inc (PTEN.O) said on Monday it would buy Seventy Seven Energy Inc (SVNT.PK) in an all-stock deal worth US$1.76 billion including debt.

Up to Wednesday's close, Savanna's stock had risen 23 per cent since Total Energy's initial bid.