Seplat Grew H1, 2021 Profit By 142% 

…Declares Interim Dividend Of 2.5 Cents Per Share

Seplat Energy Plc recorded an impressive half year (H1) 2021 scorecard with profit before deferred tax (PBT) of $62.1million, representing an increase of 142.7percent as against H1’20.

Highlights of the company’s financial further show that revenue went up 32percent to $308.8 million in H1’21, from $233.5 million in H1’20.

In the half year (H1) period, Seplat pronounced an interim dividend at a rate of US2.5 cents per Ordinary Share, subject to appropriate withholding tax (WHT), to be paid to Seplat Energy’s shareholders whose names appear in the Register of Members as at the close of business on August 12, 2021.

Both the Nigerian Exchange (NGX) Limited and London Stock Exchange hosted Seplat Energy Plc on Thursday July 29 to commemorate Seplat’s first dual Capital Markets Day .

The event marked an important milestone for Seplat marking its name change from Seplat Petroleum Development Company Plc to Seplat Energy Plc.

Seplat’s operational highlights show: working-interest oil and gas production within guidance at 50,786 barrels of oil equivalent per day (boepd); liquids production of 30,028 barrels of oil per day (bopd) in H1 2021, gas production up 21percent to 120 million standard cubic feet per day (MMscfd); Oben-50 and 51 gas wells completed in the period and producing; safety record extended to more than 20.5 million man hours without LTI on Seplat-operated western assets; while first liftings from Amukpe-Escravos Pipeline expected fourth-quarter (Q4) 2021.

Seplat successful issue of $650 million 7.75 per cent senior notes to redeem existing $350 million 9.25 per cent senior notes and repay $250 million drawn on $350 million Revolving Credit Facility (RCF); Refinanced $100 million Westport RBL facility; raised a $50 million offtake linked to the RBL in July; and total capital expenditure of $57.5 million.