Seplat Energy PLC, a leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has announced its unaudited results for the six months ended 30 June 2024, declaring profit before tax (PBT) of N244bn from N43.5bn Year-on-Year with cash generated hitting N308.2bn.
The company also declared a $6 Cents total dividend per share for the period.
The energy company grew its production averaged 48,407 boepd (6M 2023: 50,805 boepd), at midpoint of guidance (44,000 boepd – 52,000 boepd).
In the same vein, Seplat Energy advanced its operating profit to N285.2bn from N60.2bn Year-on-Year.
It achieved more than 4.9 million hours without Lost Time Injury (LTI) at Seplat-operated assets in 6M 2024.
Operational highlights
• Production averaged 48,407 boepd (6M 2023: 50,805 boepd), at midpoint of guidance (44,000 boepd – 52,000 boepd).
• Pipeline losses of 3.1% in 6M 2024, highlights an improving environment for stable operations on the Niger Delta.
Average deferments also improved to 24% (6M 2023: 26%).
• ANOH gas project on track to reach first gas by end 3Q 2024. Critical infrastructure progressed well in 2Q 2024; spurline achieved mechanical completion and progress on OB3 pipeline tunnelling means both infrastructure projects are on track for completion during 3Q 2024.
• Abiala-1 workover activity complete, second well commenced, first oil on track for 3Q 2024.
Also Read: Seplat Energy hits $1bn revenue, commits $5.7M to end gas flaring
• Sibiri-1 and Sibiri-2 onstream and producing at a combined rate of c.3,000 bopd (gross).
• Carbon emissions intensity: 28.6 kg CO2/boe (6M 2023: 26.3 kg CO2/boe).
• Achieved more than 4.9 million hours without Lost Time Injury (LTI) at Seplat-operated assets in 6M 2024.
