Seplat Energy Plc has reported strong financial performance for the nine months ended September 30, 2025, with revenue rising to ₦3.356 trillion, up from ₦1.071 trillion recorded in the corresponding period of 2024.
The company, which is dual-listed on the Nigerian Exchange Ltd. and the London Stock Exchange, disclosed the results in a statement on Thursday.
Seplat’s gross profit grew to ₦1.356 trillion from ₦531.5 billion, while cash generated from operations surged to ₦2.152 trillion, compared with ₦633.8 billion in the same period last year.
Operating profit rose to ₦1.096 trillion, and EBITDA stood at ₦1.715 trillion, representing over 190 per cent year-on-year growth.
In line with its robust performance, the company declared a third-quarter dividend of 7.5 US cents per share, consisting of a 5.0-cent base dividend and a 2.5-cent special dividend — a 63 per cent quarter-on-quarter and 108 per cent year-on-year increase.
Average daily production rose sharply to 135,636 barrels of oil equivalent per day (boepd), from 47,525 boepd in 2024, buoyed by improved onshore and offshore output as well as the restoration of idle wells that added 33,400 barrels per day in capacity.
Seplat also announced the sale of its first Liquefied Petroleum Gas (LPG) cargo to the domestic market, enhancing access to clean energy. Its ANOH gas plant remains on schedule to deliver first gas in the fourth quarter of 2025.
On sustainability, the company achieved a 21 per cent reduction in carbon emissions intensity from its onshore assets, bringing it down to 25.2 kg CO₂ per barrel of oil equivalent, while maintaining its target to end routine flaring by the end of 2025.
Financially, Seplat’s unit production cost stood at $14.1 per boe, within guidance, and its balance sheet remained solid with $579.8 million cash at bank and net debt down 43 per cent to $386 million.
Commenting, Roger Brown, Chief Executive Officer of Seplat Energy, said the company’s year-to-date performance reflects its strategic growth trajectory and commitment to shareholder value.
“We have delivered a third consecutive quarter of production growth and declared a total dividend of 7.5 US cents per share, consistent with our policy of returning more free cash flow to shareholders,” Brown said.
He added that Seplat is on course to end routine flaring in the final quarter of 2025 and complete its Petroleum Industry Act (PIA) conversion, both of which would position the company to achieve its 2030 growth roadmap targeting 200,000 boepd and $1 billion in cumulative dividends.
