**Seplat Energy Plc Reports Strong 9M 2025 Results with Significant Growth and Strategic Progress**
Seplat Energy Plc, a leading Nigerian independent energy company, announced its unaudited results for the nine months ended 30 September 2025, highlighting robust operational and financial performance. Key takeaways include
**Operational Highlights**
**Production Growth** 9M 2025 production averaged 135,636 boepd, up 185% YoY, with 3Q 2025 production at 137,888 boepd.
**Offshore Performance** Idle well restoration added ~33.4 kbopd, partially offset by planned downtime and lower output from A/K.
**LPG Milestone** First LPG cargo sold domestically, enhancing clean cooking access.
**Safety Incidents** One Lost Time Injury (LTI) and a fire at Yoho platform (no injuries), expected to impact 4Q production by 10-12 kboepd.
**ANOH Gas Plant** On track for first gas delivery in 4Q 2025.
**Carbon Emissions** Onshore emissions intensity down 21% to 25.2 kg CO2/boe
routine flaring elimination on track for end-2025.
**Financial Highlights**
**Revenue:** $2.18 billionup 204% YoY.
**Adjusted EBITDA:** $1.11 billionup 190% YoY.
**Cash Generation** $1.39 billion, up 239% YoY, with net debt reduced to $386 million (net leverage at 0.27x ND/EBITDA).
**Dividend** Declared 7.5 US cents per share for 3Q 2025, up 63% QoQ, including a 2.5 US cents special dividend.
**Strategic Progress**
**Guidance Update** Production guidance narrowed to 130-140 kboepd
capex guidance to $270-290 million.
**Debt Management** Repaid Westport junior facility and refinanced senior RBL at lower cost
$350 million RCF undrawn.
**2030 Roadmap** Targeting 200 kboepd production and $1 billion in cumulative dividends by 2030.
**CEO Commentary**
Roger Brown emphasized Seplat’s ability to operate at scale post-MPNU acquisition, robust financial performance, and commitment to safety, sustainability, and shareholder returns.
**Summary Table**
Metric
9M 2025
9M 2024
% Change
Revenue ($ million)
2176.6
715.3
204%
EBITDA ($ million)
1111.9
383.0
190%
Production (boepd)
135636
47525
185%
Net Debt ($ million)
386
43% QoQ
Seplat Energy remains focused on sustainable growth, energy transition, and delivering value to stakeholders.