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Tag: Seplat Energy

Seplat reports 11% increase in production after SEPNU acquisition
News

Seplat reports 11% increase in production after SEPNU acquisition

Seplat Energy Plc has recorded an 11% surge in total production following its acquisition of Mobil Producing Nigeria Unlimited, now rebranded as Seplat Energy Producing Nigeria Unlimited. This was disclosed in the company’s audited financial results for the year ended December 31, 2024. According to the report, Seplat’s onshore assets averaged 48,618 barrels of oil […]

News

Seplat Energy targets 14tn cubic feet of gas in Akwa Ibom

The Chief Executive Officer of Seplat Energy, Roger Brown, has emphasized the company’s potential to tap into an estimated 14 trillion cubic feet of untapped natural gas in its newly acquired assets in Akwa Ibom State. Brown made this statement during his address at the Heirs Energies Leadership Forum 2025 in Abuja, where he discussed […]

News

Seplat to revive 400 oil wells, targets 120,000bpd

Seplat Energy plans to revive 400 idle oil wells to boost its crude production to over 120,000 barrels per day in the coming months. The Nigerian company, which took over ExxonMobil’s local operations, aims to more than double production within six months by capitalizing on the exit of foreign majors from the country’s onshore oil […]

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ExxonMobil-Seplat deal to increase Nigeria’s oil output – Experts

The conclusion of the $1.28 billion divestment deal between ExxonMobil and Seplat, along with similar transactions in Nigeria’s upstream oil sector, is expected to boost oil output by 21.4%, reaching over 1.7 million barrels per day, according to experts. In his Independence Day national broadcast, President Bola Tinubu announced that the government is set to […]

News Oil and Gas

Seplat Energy demand swift divestment process to boost oil, gas output

Seplat Energy Plc, a Nigerian independent energy business listed on the Nigerian and London Stock Exchanges, has stated that if divestiture and other related deals are hastened, Nigeria’s subsurface potentials could be greatly maximized and oil/gas production levels improved. This disclosure was made by the CEO of Seplat Energy, Mr. Roger Brown at the 2024 […]

Tinubu orders NNPC to sell Crude to Dangote in Naira
News

Tinubu moves to settle ExxonMobil, Seplat Energy rift

President Bola Tinubu has reaffirmed his commitment to resolving the divestment issues between ExxonMobil and the indigenous energy company, Seplat Energy. This commitment was articulated in a statement by the president’s spokesperson, Ajuri Ngelale, during a meeting with ExxonMobil President Liam Mallon and other executives at the State House in Abuja on Tuesday. In February […]

Seplat Energy extends agreement for ExxonMobil acquisition
News

Seplat Energy extends agreement for ExxonMobil acquisition

Seplat Energy Plc has prolonged the Share Sale and Purchase Agreement for the acquisition of ExxonMobil’s share capital in Mobil Producing Nigeria Unlimited, according to a notice submitted to the Nigerian Exchange Limited. The extension is aimed at keeping the transaction intact while awaiting the resolution of certain legal matters and obtaining the required regulatory […]

Seplat Energy announces N125bn profit before tax in 2023
Energy

Seplat Energy announces N125bn profit before tax in 2023

Melvin Onwubuke Seplat Energy Plc, on Thursday, announced N125.5 billon profit before tax in its audited result and accounts for the full year ended December 2023, an increase of 45 per cent compared to the preceding N86.73 billion, recorded for the 2022 financial year. Seplat Energy, listed on both the Nigerian Exchange Limited and the […]

Seplat energy board appoints Udo Udoma as chairman
Business

Seplat energy board appoints Udo Udoma as chairman

Melvin Onwubuke The Board of Seplat Energy Plc, listed on both the Nigerian Stock Exchange and the London Stock Exchange, has announced the appointment of Mr. Udoma Udo Udoma, as the new Independent Non-executive Chairman of the company. This was disclosed by the company’s notice to the Nigerian Exchange Limited and the investing public; Udoma […]

How increased electricity access will drive investment - Seplat
Oil and Gas

Seplat gas revenue hits $63.7m H1 2023

Seplat Energy Plc, an indigenous energy firm, increased its gas revenue by 10.21% to $63.7 million in the first half of 2023 from $57.8 million in the same period of 2022. The Punch reported that the increase in petrol revenue, according to a statement issued by the group on Monday, was the result of higher […]