Seplat Vitality PLC has positioned its 2026 manufacturing steering at 135, 000-155,000 barrels of oil equal per day (boepd), the midpoint of which represents a progress of about 10 % from 2025.
Final 12 months the Nigerian power firm averaged 131,506 boepd, up 148 % from 2024. The surge displays “the primary full 12 months of offshore consolidation”, Seplat mentioned in a inventory submitting.
Onshore manufacturing climbed 14 %, boosted by the completion of the Sapele Gasoline Plant and a brand new properly stock. The ANOH gasoline plant, which begin operation January 2026, has secure charges of 50-70 million cubic ft per day (MMcfd), Seplat mentioned.
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“Offshore [production] grew 9 % YoY on a pro-forma foundation”, it mentioned. A program to revive idle wells accounted for 48,600 boepd of the rise. Outage at Yoho lowered manufacturing, however Seplat expects the platform to restart within the second quarter of 2026.
Whereas Seplat expects complete manufacturing to extend in 2026, its crude oil and condensate manufacturing is anticipated to be flat year-on-year. Volumes from deliberate new wells are set to be offset by scheduled upkeep, it mentioned.
The anticipated enhance in manufacturing is to return from pure gasoline liquids (NGL) and gasoline, that are projected to extend 85 % and 30 % respectively. Seplat goals to extend offshore gasoline gross sales to 240 MMcfd this 12 months, supported by “ANOH contribution, YoY progress on Sapele IGP and completion of Oso-BRT section 1, which is on observe for 3Q 2026”.
Sepplat reported a 181 MMboe enhance in 2P plus 2C reserves to 2.49 billion boe on the finish of 2025. Liquids comprised 55 %. “Optimistic revisions to offshore oil assets mirror stronger underlying manufacturing efficiency on a number of fields and gasoline useful resource improve following inclusion of Edop”, it mentioned.
Seplat logged $497.8 million in revenue earlier than tax, up 86.7 % from 2024 as the rise in volumes offset a decline in realized oil and gasoline costs. Gross revenue elevated 156.4 % to $904.5 million.
It declared a dividend of 8.3 cents per share for This autumn 2025, up 11 % quarter-on-quarter and 20 % year-on-year. The determine consisted of a base dividend of 5 cents and a particular dividend of three.3 cents. Seplat mentioned complete dividends for 2025 signify a 52 % year-over-year enhance.
Income totaled $2.73 billion, up 144.2 % from 2024 as a result of “a full 12 months of contribution from offshore belongings”. Adjusted EBITDA elevated 136.6 % to $1.28 billion. Working revenue elevated 106.7 % to $675.2 million. Operations generated $1.17 billion in money, up 276 % from 2024.
“We benefitted from profitable execution of a number of key offshore actions that kick-started life for Seplat as an offshore operator, whereas on the similar time delivering onshore manufacturing efficiency that was the strongest in current reminiscence”, mentioned chief govt Roger Brown.
Seplat had $332.33 million in money and money equivalents at yearend 2025, whereas its present belongings totaled $1.34 billion.
Present liabilities totaled $1.23 billion together with $72.57 million in interest-bearing loans and borrowings.
To contact the creator, e mail jov.onsat@rigzone.com
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