Aradel Holdings Plc has increased its crude oil production to an average of 15,300 barrels per day for the nine months ended 30 September 2025, up from 12,300 barrels per day recorded in the same period of 2024.
The company said the 25 per cent growth was driven by improved well optimisation, enhanced efficiency and operational excellence across its operated fields.
In its unaudited results released on Thursday, Aradel reported a 122 per cent increase in profit after tax to N245.1bn from N110.6bn in the previous year, while revenue rose by 43 per cent year-on-year to N538.8bn from N377.6bn, supported by higher crude oil, gas and refined product sales.
Gas production reportedly grew by 41 per cent to 50.6 million standard cubic feet per day, and refined product volumes rose by 40 per cent to 235.7 million litres, reflecting improved refinery uptime and expanded capacity.
According to the report, following the improved performance, the board approved an interim dividend of N10 per share, representing a 25 per cent increase from the N8 declared in the previous year.
The Chief Executive Officer, Adegbite Falade, said the performance demonstrated the resilience of the company’s business model.
He said, “The company continues to demonstrate the strength and resilience of its business model, delivering another solid performance for the nine months ended 30 September 2025. This performance reaffirms our consistent track record of growth and value creation, even in a dynamic operating environment.
“As we celebrate 20 consecutive years of uninterrupted production, we remain proud of how far we have come in building a fully integrated energy company anchored on operational excellence, a disciplined growth strategy and prudent financial management.
“Since our landmark listing on the Nigerian Exchange in October 2024, we have continued to deliver on our promise of sustainable value creation and uphold the highest standards of corporate governance. Our nine-month 2025 results reflect the effectiveness of our strategic growth initiatives across the upstream, midstream and downstream segments.”
Falade added that during this period, the company completed the acquisition of the Olo and Olo West marginal fields and reached an agreement for the acquisition of an additional 40 per cent equity interest in ND Western Limited.
“Looking ahead, we remain focused on disciplined investments, strategic partnerships and innovation to increase production, advance our energy transition agenda, and further diversify our revenue base. With a clear strategy and strong fundamentals, we are confident in our ability to sustain growth and maximise value for our shareholders,” he said.
The report added that Aradel achieved 8.5 million man-hours without a lost-time injury across all operated assets during the period. Cash at bank stood at N399.5bn, while total borrowings rose to N206.5bn from N96.4bn in 2024.
