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Seplat energy reports that Revenue jumps 144% to $2.73bn.
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Daily production rises 148% to 131,506 boepd; onshore and gas operations expand.
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Net debt drops 25%, cash from operations surges 276%; 2026 outlook remains strong.
Seplat Energy Plc has announced a 144.2% increase in revenue, reaching $2.73 billion in 2025, up from $1.12 billion in 2024.
The growth was largely attributed to full-year contributions from its offshore assets. Profit before tax rose 86.7% to $497.8 million, while gross profit surged 156.4% to $904.5 million.
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Adjusted EBITDA climbed 137% to $1.28 billion, reflecting robust operational performance.
The company’s cash generated from operations soared by 276% to $1.17 billion, and unit production operating costs fell by 5% to $15.7 per barrel of oil equivalent (boe).
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Capital expenditure stood at $266.8 million, while net debt reduced by 25% to $673.3 million, improving the net debt-to-EBITDA ratio to 0.53 times.
Operationally, Seplat’s average daily production jumped 148% to 131,506 boepd, supported by both onshore growth and the ANOH Gas Plant achieving first gas in January 2026.
Offshore production rose nine percent on a pro-forma basis. The company also highlighted its idle well restoration program, which added 48,600 boepd of production capacity.
Looking ahead, Seplat projects 2026 production between 135,000 and 155,000 boepd, driven by increased gas and natural gas liquids (NGL) output, as well as completion of key projects including the Oso-BRT Phase 1.
The firm plans a capital expenditure of $360–440 million and intends to drill 17 new wells, combining onshore and offshore operations.
CEO Roger Brown noted that Seplat’s 2025 performance demonstrates its capability to operate at scale, with strong cash generation and a roadmap to grow working interest production to 200 kboepd by 2030.
He highlighted ongoing efforts to strengthen balance sheets, increase dividends, and deliver long-term value to shareholders.
